Lands’ End Falls as CEO Steps Down After Less Than Two Years
- Federica Marchionni had been hired from Dolce & Gabbana
- Sales have slid amid attempt to transform into lifestyle brand
Lands’ End Inc. shares slipped after Chief Executive Officer Federica Marchionni stepped down less than two years into the job, leaving the apparel retailer without a permanent leader as it struggles to revive sales growth.
Chief Merchandising and Design Officer Joseph Boitano and Chief Operating and Financial Officer James Gooch have been named co-interim CEOs, effective immediately, the Dodgeville, Wisconsin-based company said Monday in a statement. The board has engaged executive-search firm Heidrick & Struggles International Inc. to help with finding a permanent CEO.