American Eagle Outfitters, Inc. (NYSE: AEO) today announced that Jay L.
Schottenstein, Executive Chairman of the Board, has been appointed as
the Company’s Interim Chief Executive Officer, effective immediately,
succeeding Robert Hanson, who is leaving the Company. The Board will
initiate a search for a permanent Chief Executive Officer. Roger S.
Markfield has agreed to postpone his retirement and will continue in his
current role as Vice Chairman and Executive Creative Director.
The Company also said that it continues to expect to report fourth
quarter 2013 EPS in line with the outlook provided on January 9, 2014.
Jay Schottenstein commented, “On behalf of the Board of Directors, I
want to thank Robert for his contributions during his tenure and wish
him well in his future endeavors. I look forward to working closely with
Roger and our talented team to capitalize on the significant potential
of our brands and to position the Company for growth and long-term
success.”
Jay Schottenstein has served as Executive Chairman since the beginning
of fiscal 2012 and as Chairman of the Company since March 1992, and
previously held the role of Chief Executive Officer from March 1992
until December 2002.
Roger Markfield joined the Company in 1993 and has provided the creative
vision for American Eagle Outfitters since that time. He oversaw the
evolution to a leading lifestyle apparel brand through its most
profitable years. In addition, Mr. Markfield has served as a Director
since 1999.
About American Eagle Outfitters, Inc.
American Eagle Outfitters, Inc. (NYSE: AEO) is a leading global
specialty retailer offering high-quality, on-trend clothing, accessories
and personal care products at affordable prices under its American
Eagle Outfitters® and Aerie® brands. The company operates more than
1,000 stores in the United States, Canada, Mexico, China, and Hong Kong,
and ships to 81 countries worldwide through its websites. American Eagle
Outfitters and Aerie merchandise also is available at 66 licensed
international franchise stores in 12 countries. For more information,
please visit www.ae.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform
Act of 1995: This release contains forward-looking statements, which
represent our expectations or beliefs concerning future events,
specifically regarding fourth quarter 2013 results. All forward-looking
statements made by the company involve material risks and uncertainties
and are subject to change based on factors beyond the company's control.
Such factors include, but are not limited to the risk that the company’s
operating, financial and capital plans may not be achieved and the risks
described in the Risk Factor Section of the company's Form 10-K and Form
10-Q filed with the Securities and Exchange Commission. Accordingly, the
company's future performance and financial results may differ materially
from those expressed or implied in any such forward-looking statements.
The company does not undertake to publicly update or revise its
forward-looking statements even if future changes make it clear that
projected results expressed or implied will not be realized.
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