Nike, Under Armour, McDonald's, and Gap have all announced CEO departures. Here's the next generation of CEOs tasked with saving the retail industry.
Gap CEO Art Peck stepped down on November 7. The company did not provide a reason for his departure.
Robert Fisher, Gap's chairman and board member since 1990, will serve as interim CEO. Fisher's parents operated the first Gap store in 1969, and he served as interim CEO in 2007.
"On behalf of the entire Board, I want to thank Art for his many contributions to Gap Inc., spanning a nearly 15-year career with the company," Fisher said in a statement. "Under Art's tenure as CEO, we have made progress investing in capabilities that bode well for the future, such as expanding the omnichannel customer experience and building our digital capabilities."
McDonald's CEO Steve Easterbrook was fired on November 3 following a relationship with an employee.
Source: Business Insider
US business chief Chris Kempczinski took over the CEO role. Some McDonald's franchisees told Business Insider's Kate Taylor that they have clashed with him in the past over costly remodeling and modernization programs. Some franchisees have been more optimistic.
Under Armour announced on October 22 that founder Kevin Plank would be stepping down from his role as CEO following years of slowing sales and reports about the company paying for strip club visits for executives.
Source: Business Insider, Business Insider
Patrik Frisk, the company's president and chief operating officer, was named as Plank's replacement effective January 1.
Source: Business Insider
That same day, Nike announced that CEO Mark Parker would be stepping down and becoming executive chairman, effective in January.
Source: Business Insider
Nike announced that former eBay CEO John Donahoe, a member of Nike's board since 2014, would replace Parker.
Donahoe is the president and CEO of ServiceNow, a cloud-computing company based in Santa Clara, California, and the chairman of PayPal Holdings. He was president and CEO of eBay from 2008 to 2015 and the worldwide managing director of Bain & Co. from 1999 to 2005.
Source: Business Insider
Barneys New York CEO Daniella Vitale announced she would step down after the company was sold to Authentic Brands Group on November 1.
Source: Business Insider
A bankruptcy court approved Barneys' sale to Authentic Brands Group, which would effectively shutter all Barneys stores in their current form.
Source: Business Insider
David's Bridal announced in March that CEO Scott Key had stepped down from his position.
Source: PR Newswire
He was succeeded by Miguel Patricio, who worked at Anheuser-Busch InBev for over 20 years, in July.
Source: Associated Press
Guess said in January that CEO Victor Herrero would step down. A reason for the departure was not immediately clear.
Source: Business Insider
Former top executive Carlos Alberini was named Herrero's replacement.
REI's president and CEO, Jerry Stritzke, resigned in February after failing to disclose his relationship with the head of another outdoor retailer.
Source: Associated Press
Eric Artz, REI's chief operating officer, became interim CEO. Artz previously held leadership positions at Urban Outfitters and VF Corporation, which owns brands like The North Face, Smartwool, and Timberland.
Source: Associated Press, REI
Bed Bath & Beyond CEO Steven Temares stepped down in May amid slipping sales and pressure from activist investors.
Source: Business Insider
Target's chief merchandising officer, Mark Tritton, replaced Temares. Tritton helped revamp Target stores and introduced more private labels for the brand.
Source: Business Insider, CNBC
Mattress Firm executive chairman, president, and CEO Steve Stagner resigned from the company in April.
Source: Mattress Firm
John Eck was appointed president and CEO in May, coming from Rockdale Partners, where he was a senior advisor and consultant for media and emerging technology platforms. Mattress Firm filed for Chapter 11 bankruptcy in October 2018 but reemerged less than two months later.
Source: Mattress Firm, Business Insider
Heyward Donigan was appointed CEO in August and was chosen for her 30 years of experience in the healthcare industry and her digital shopping technology expertise.
Source: Business Wire
Burlington CEO Thomas Kingsbury announced in April that he would be stepping down from the company.
Source: MarketWatch
Michael O'Sullivan, formerly chief operating officer of Ross Stores, took over as CEO of Burlington in September.
Best Buy CEO Hubert Joly stepped down in April. He was credited with reviving the electronics retailer and expanding its online channels.
Source: Associated Press
Corie Barry became Best Buy's CEO in June, after being with the company since 1999.
Source: Associated Press, CNBC
eBay announced in September that CEO Devin Wenig would step down. Wenig cited conflict with eBay's board as the reason for his departure.
Source: Business Insider
Scott Schenkel, eBay's senior vice president and chief financial officer, was appointed interim CEO.
Source: Business Insider
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