Land's End CEO Steps Down; Boitano, Gooch Named As Co-Interim Replacements

Land's End, Inc. LE named Joseph Boitano and James Gooch as co-interim CEOs to replace Federica Marchionnni, who stepped down from the CEO position. The appointment would come into immediate effect.

While Boitano is a serving EVP and Chief Merchandising and Design Officer, Gooch is the current EVP and COO and CFO. The company indicated it hired Heidrick & Struggles to help them in searching a permanent CEO. The search would include both internal and external candidates.

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Land's End chairman, Josephine Linden, commented, "Federica is stepping down at this time, leaving Lands` End well positioned to continue its evolution and capture the growth opportunities that exist for our iconic brand in this dynamic retail environment."

The chairman indicated the company would continue to build on Gary Comer's legacy of keeping the firm at the forefront of innovation in the retail sector. That would mean returning to sustained profitable growth to the satisfaction of its stakeholders.

On Friday, the stock closed at $18.00.