Abercrombie and Fitch's CEO Mike Jeffries To Step Down Immediately

Following 11 consecutive quarters of comparable sales decline, Abercrombie & Fitch‘s CEO Mike Jeffries has decided to retire. In a recent press release, the management stated that Mr. Jeffries will step down from his positions of the CEO and a member of the board of directors effective immediately. Alongside, Arthur Martinez, the current non-executive chairman of the board has been promoted to executive chairman, and he along with office of the chairman will oversee Abercrombie’s strategies...