Dodgeville-based Lands’ End Inc. announced today that chief executive officer and board member Federica Marchionni has resigned.
“I am honored to have led this extraordinary company and proud to have succeeded in providing a vision to expand its positioning in the industry with a multi-dimensional strategy,” Marchionni said. “However, the board of directors and I have agreed it is time for others to bring Lands’ End into the future. I thank everyone who supported me in this journey and wish Lands’ End the very best.”
Marchionni had been the Land’s End CEO since February of 2015. Previously, she was the president of Dolce & Gabbana USA Inc.
“On behalf of the entire board, I want to thank Federica for her dedication and contributions to Lands’ End,” said Josephine Linden, chairman of the board for Lands’ End. “Her creative vision has helped Lands’ End begin its transformation as a global lifestyle brand with a broader merchandise offering that is more relevant in today’s marketplace. Federica is stepping down at this time, leaving Lands’ End well positioned to continue its evolution and capture the growth opportunities that exist for our iconic brand in this dynamic retail environment.”
The company’s board of directors appointed Joseph Boitano, executive vice president and chief merchandising and design officer, and James Gooch, executive vice president and chief operating officer and chief financial officer, to be co-interim CEOs, effective immediately.
“Joe and Jim are seasoned retail executives with a deep understanding of and appreciation for Lands’ End’s values, customer base and growth opportunities, and we are delighted that they have agreed to expand their roles during this interim period,” Linden said. “The board is confident that Jim’s financial and operational acumen in consumer retail, combined with Joe’s widely recognized apparel merchandising and design expertise, make them the right fit to lead Lands’ End as Co-Interim CEOs. As we move forward, we remain committed to building on Gary Comer’s legacy of keeping Lands’ End at the forefront of innovation in the retail industry and returning to sustained, profitable growth for the benefit of all our stakeholders.”
The board has hired Heidrick & Struggles, a global executive search firm, to help the company find a new permanent CEO.
