J.Crew losing another exec
Holden, who has been in the role for just one year, was a part of the recent relaunch of the brand.
The news comes on the heels of the J.Crew’s announcement on Saturday that CEO Jim Brett was stepping down, effective immediately.
Brett said in a statement that despite having seen positive results from the brand’s relaunch, he and the board had been unable to agree on how to continue its evolution.
GlobalRetail Data managing director Neil Saunders believes Brett’s exit has left the brand leaderless at a pivotal moment.
“The suddenness of the exit suggests there is a tussle over how to develop the brand among the various senior stakeholders,” Saunders said, noting that the brand’s management had been an issue since before Brett arived.
“If the departure of Jim Brett hails the return of these unrealistic attitudes, J.Crew is going to slip back and undo all of the progress made to date. Given the precariousness of its financial position, this is a mistake it cannot afford to make.”
A spokeswoman told Ad Age the two exits are unrelated, and that Holden had resigned in advance of Brett.
Inside Retail Polls
Four CEOs in five years, lacklustre holiday performance and an unhappy parent company. https://t.co/IBK4AaqOp51 day ago