Pittsburgh -- American Eagle Outfitters said that CEO Robert Hanson, would leave the company, effective immediately. He was appointed to the position in late 2011, after 23 years at Levi Strauss & Co., where he served in a number of executive roles.
Similar to many other teen retailers, American Eagle has been struggling. The company reported a profit of $24.9 million in the three months ended Nov. 2, compared to $78.6 million in the year-ago period. Revenue was $857.3 million, a decline from $910.4 million a year ago.
American Eagle chairman Jay was named interim CEO while the company searches for a replacement. In line with the changes, Roger S. Markfield has agreed to postpone his retirement and will continue in his current role as vice chairman and executive creative director.
“On behalf of the board of directors, I want to thank Robert for his contributions during his tenure and wish him well in his future endeavors,” Schottenstein said. “I look forward to working closely with Roger and our talented team to capitalize on the significant potential of our brands and to position the company for growth and long-term success.”