Labor

Changes hit retail C-suites in September

Reebok, Starbucks, and Land’s End found new CEOs.
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Courtesy of Authentic Brands Group

· 3 min read

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While the Beyond Meat nose-biting scandal (more on that later) dominated retail headlines in September, the month saw plenty of other significant C-suite news, like a Reebok intern’s 30-year climb to become CEO. We rounded up the month’s most notable retail hires and departures:

  • Todd Krinsky, a 30-year Reebok veteran who began as an intern, climbed to the top rungs of the sportswear company to become CEO. Current chief Matt O’Toole will join new owner Authentic Brands Group as executive vice chairman next year.
  • Unilever CEO Alan Jope is retiring at the end of 2023. Jope, too, rose through the ranks for three decades, joining the company in 1985 as a graduate marketing trainee.
  • Starbucks named Laxman Narasimhan, former CEO of The Reckitt Benckiser Group, as its incoming CEO as of October 1 before taking over the role in April, ending Howard Schultz’s third stint as the coffee chain’s chief exec.
  • Land’s End named Andrew McLean, former president of international at American Eagle Outfitters, its new CEO. He’ll assume the role from current CEO Jerome Griffith when the latter retires on January 27.
  • Don Hendricks will officially become Belk’s CEO after serving in the interim position since May.
  • After just seven months in the role, Vijay Talwar stepped down as Wish CEO. GGV Capital operating partner Joe Yan has been appointed interim CEO.
  • After a major C-suite overhaul in June, Dollar Tree tapped Michael Creedon, former EVP of US stores at Advance Auto Parts, to take over as COO.
  • Burberry said its COO and CFO Julie Brown will leave her role in April 2023 for an opportunity “outside of the luxury industry.”
  • Peloton co-founder John Foley, who left the CEO role in February but remained executive chair, fully resigned from the company. Co-founder and chief legal officer Hisao Kushi and CMO Dara Treseder will also step down.

Making ends meat: Beyond Meat COO Doug Ramsey was suspended from the alt-meat maker after being arrested for allegedly assaulting a man and biting his nose following a college football game. Meanwhile, the company eliminated its chief supply chain officer role after Bernie Adcock stepped down from the position, so SVP of manufacturing operations Jonathan Nelson will take over responsibilities for both positions.

Kohl’s shoulder: Activist investor Ancora Holdings tried to force out Kohl’s CEO Michelle Gass and chairman Peter Boneparth, following dipping profits and halted talks to sell to Franchise Group. However, the retailer said its board “unanimously supports Ms. Gass and her leadership team.”—EC

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