Lands' End CEO Leaves Company
Last week, American Apparel CEO Paula Schneider, stepped down, and this week, there's another apparel CEO saying, "Goodbye." Federica Marchionni, CEO of Lands' End, Dodgeville, Wis., left the company after two years on the job, according to Crain's Chicago Business.
As a result, Lands' End shares took a nosedive leaving the company scrambling to put the pieces back together. According to a press release, chief merchandising and design officer, Joseph Boitano, and chief operating and financial officer, James Gooch, have been named co-interim CEOs, effective immediately.
For a more permanent CEO solution, the company has enlisted the help of executive-search firm Heidrick & Struggles International Inc.
Lands' End hired Marchionni last February after she worked for Dolce & Gabbana's U.S. brand. However, Lands' End continued to lose sales, and the company has posted three consecutive quarterly losses.