Following Jenna Lyons’ departure from J.Crew and the subsequent round of layoffs comes another massive change for the brand: Mickey Drexler is stepping down as C.E.O. WWD reports that Drexler had informed the board last year that was he was looking to move on and a search began for his successor. He will be replaced by Jim Brett, the president of West Elm, who grew the home brand’s sales from $250 million to over $1 billion and is expected to help J.Crew turn their profits around. But don’t worry, Drexler isn’t completely gone—he’ll remain on as chairman and still owns 10% of the company. Now the only question is: will Brett take over the P.A. system too?
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