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Federica Marchionni has stepped down from her role as CEO of Lands’ End and resigned as a Director. She had joined the company in February 2015.
Joseph Boitano and James Gooch will serve as Co-Interim CEOs, effective immediately. Boitano currently serves as EVP and Chief Merchandising and Design Officer, and Gooch currently serves as EVP and Chief Operating and Financial Officer.
Lands’ End swung to a $19.5 million loss in the year ended January 29, 2016. That compares with a profit of $73.8 million the previous year. Excluding a $98.3 million charge to reflect a lower value of the Lands’ End brand name, the company would have earned $40.4 million last year.