New York City Aeropostale said Thursday that CEO Julian R. Geiger plans to step down by the end of the fiscal year. The company said he was making the move to exercise the right of election granted to him as part of his employment contract.
Geiger, who has served as CEO since 1996, will remain chairman of the company.
Aeropostale named president and chief merchandising officer Mindy C. Meads and executive VP and COO Thomas P. Johnson as co-CEOs. Meads has served as president and chief merchandising officer since March 2007, while Johnson has been in his roles since 2004.
The chain also promoted CFO Michael J. Cunningham to the additional role of president. He has been an executive VP since March 2004.
On behalf of the board of directors, Geiger said, "Part of Aeropostale's unique culture is its emphasis on developing a group of tremendously talented and dedicated executives who will continue the outstanding performance that has characterized our past, while maintaining the core values that we believe make the company so special. We are therefore delighted by the promotions of Mindy, Tom and Michael."
Aeropostale currently runs 891 Aeropostale stores in 49 states and Puerto Rico, 39 Aeropostale stores in Canada and nine P.S. from Aeropostale stores in two states.