Abercrombie & Fitch has announced it will re-hire its former vice president of finance and merchandising Scott Lipesky after a year long hiatus in efforts to “aggressively” execute its turnaround strategy.
Lipesky previously spent nine years at Abercrombie & Fitch, where he held numerous senior financial roles, including chief financial officer (CFO) of its brand Hollister.
He left the company in October last year to take on the role of finance chief at American Signature, a furniture retailer in the US.
He returns at a turbulent time for the fashion retailer, which reported its 16th consecutive quarter of decline in March this year.
It stocks also plummeted in value after a rescue deal was abandoned.
“I’m excited to return to Abercrombie & Fitch Co. at this important point in its revitalisation journey,” Lipesky said.
“I look forward to working with Fran, Joanne and the rest of the leadership team, as the company continues on its path to delivering enhanced performance and long-term shareholder value.”
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