Mickey Drexler, longtime chairman and former CEO of J.Crew has decided to retire. Drexler had been with the company since 2003 when he joined as CEO. The brand grew into a leading global player under Drexler's leadership.
The Board of Directors elected J.Crew director Chad Leat to succeed Mr. Drexler as chairman, effective immediately.
"It's been a privilege to have had more than 15 years with J.Crew Group both as CEO and chairman of the board. J.Crew and Madewell have been long admired as iconic American brands, and I am thankful to have been a part of their evolution throughout the years," said Drexel in a statement.
Drexler chose to retire in order to devote his full time to the development of Drexler Ventures, LLC and other interests. He had founded Drexler Ventures in 2017 upon stepping down from the CEO position. The company, which invests in and advises emerging brands, has worked with Outdoor Voices and Warby Parker.
Drexler continues his retail career with new brands
Drexler's notable career as an apparel executive spans over four decade. He spent 18 years with Gap, Inc., working as both President and CEO. In that time, Drexler founded both the Old Navy and Gap Kids labels. Prior to his time with Gap, Inc., he held the same two roles with Ann Taylor over three years.
Drexler will continue to serve as a strategic advisor to both the Office of the CEO and the board of J.Crew. He also currently serves as chairman of Outdoor voices and is a member of the board for Warby Parker.