Engaged Capital calls on Abercrombie & Fitch to immediately initiate CEO search Engaged Capital, beneficial owner of approximately 400K shares of the common stock of Abercrombie & Fitch, made public a letter it sent to the company’s board of directors. In its letter, Engaged Capital highlighted the upcoming expiration of Abercrombie Chairman and CEO, Michael Jeffries’ employment contract on February 1, 2014 as an opportunity for the board to set a new direction. Engaged Capital also expressed its concern that no qualified successor appeared to exist at Abercrombie, and noted that continuing on the present course under the leadership of Jeffries’ would "further cement the loss of shareholder confidence in the board."
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