Chairman, president, and chief executive officer Howard Socol of Barneys has resigned, we just learned from WWD. He’ll remain with the company until the end of June, and Barneys will hire a search firm to find a successor. Since he started in 1991 Socol opened four flagships, fifteen Co-op stores, and two outlets and led the company from bankruptcy to profitability:
“After more than seven of the greatest years of my long career in retail, I felt it was time to take time to enjoy all the opportunities that life affords,” he said. “I felt strongly about remaining with the company for a short period following the sale to Istithmar as well as through the opening of our Las Vegas flagship. With the sale process well behind us and the Las Vegas location having opened in January of this year, this is the appropriate time to move forward.”
Well, that confirms the rumors.