Abercrombie & Fitch COO Jonathan Ramsden has stepped down from his position and resigned from the company, effective June 15, 2016. Ramsden’s responsibilities will be assumed by other members of the retailer’s Office of the Chairman, which include Executive Chairman Arthur Martinez, President and Chief Merchandising Officer Fran Horowitz and Executive VP and CFO Joanne Crevoiserat.
Ramsden joined Abercrombie & Fitch as Executive VP and CFO in December 2008, and has been the company’s COO since January 2014.
While Abercrombie & Fitch is doing much better than its competitor Aéropostale, which recently filed for bankruptcy protection, it has taken some time for the company to get back on its feet after three years of continually reporting net losses. The retailer recently announced a 1% increase in comparable store sales in Q4 2015, and it will announce Q1 2016 earnings at the end of the month.
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“I have a strong attachment to Abercrombie & Fitch and to the fantastic group of people I work with every day,” said Ramsden in a statement. “The decision to leave was a very difficult one, but I know that the Company is in the hands of an outstanding leadership team and that we have built a strong foundation for growth and success. I look forward to working with my colleagues over the next several weeks to ensure a smooth transition.”
Abercrombie & Fitch has yet to hire a new CEO after Michael Jeffries resigned from that role in December 2014. This leaves the retailer down by two executives on its Board when Ramsden finishes his term.
