LE Stock Pops as Lands’ End, Inc. Names New CEO

LE, Lands' End, Inc.Lands’ End, Inc. (NASDAQ:LE) stock was up on Monday following its announcement that it has chosen a new CEO.

Lands’ End, Inc.’s Board of Directors has chosen Jerome Griffith to take over as the clothing and accessory retailer’s new CEO. Griffith will take on the role of LE’s CEO starting on March 6, 2017. The company is currently led by Joseph Boitano and James Gooch, both of which have been Co-Interim CEOs since September 2016.

“We look forward to sharing our insight and experience with Jerome as we all work together to advance strategic initiatives that meet the needs of Lands’ End’s customers and drive long-term sustainable growth,” Boitano and Gooch said in a shared statement.

When Jerome Griffith takes over as the CEO of Lands’ End next year, he will also join the company’s Board of Directors. His most recent job had him acting as the President and CEO of Tumi Holdings Inc (NYSE:TUMI), which is a maker of business and travel items.

LE sought help from executive search firm Heidrick & Struggles International, Inc. (NASDAQ:HSII) in conducting the search for its new CEO. This search started earlier this year in September.

“I believe Lands’ End is well positioned to innovate and grow as a global leader in classic American sportswear,” Griffith said in a statement. “I look forward to working with the entire Lands’ End team to drive the Company forward in a way that expands and strengthens its bonds with its customers while creating compelling value for all of its stakeholders.”

LE stock was up 5% as of Monday afternoon.

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Article printed from InvestorPlace Media, https://investorplace.com/2016/12/le-lands-end-inc/.

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