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Abercrombie CEO Leaves Chain After Overseeing Rise and Fall

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Abercrombie & Fitch Co. Chief Executive Officer Mike Jeffries, who helped create the definitive wardrobe for 1990s teens before losing his status as a tastemaker in recent years, is stepping down.

Jeffries will retire immediately as CEO and a member of the board, the New Albany, Ohio-based company said today in a statement. The board is now seeking a replacement and has enlisted an executive-search firm to identify both internal and external candidates.