American Eagle names Jay Schottenstein as it new CEO

American Eagle Outfitters has appointed Jay L. Schottenstein as Chief Executive Officer, effective immediately. He will continue in his role as Executive Chairman of the Board. He has served as interim chief executive officer since January of 2014.

“Jay has orchestrated a swift recovery since taking the helm, successfully guiding the company through a challenging and highly competitive retail environment,” commented Michael Jesselson, Lead Independent Director for AEO’s Board of Directors, adding, “He has exceptional instincts for our brands, a strong strategic vision and proven ability to lead the company to profitable growth. On behalf of the entire Board, we are pleased to have Jay’s commitment and the leadership continuity that this appointment brings.”

“Nearly two years ago, we set priorities to strengthen the merchandise, reinvigorate our brands and deliver profit improvement,” commented Jay Schottenstein. “As a result, we have achieved several quarters of sales and earnings growth in a tough retail landscape. This success is a true testament to the strength of our leadership team, dedication and talent of our associates and the power of our brands. I am convinced we have the best opportunity in retail today, and we will stay focused on driving profitable growth across our brands, channels and geographies.”

Prior to his role as interim CEO, he served as Chairman of the company since March 1992, and previously held the role of chief executive from March 1992 until December 2002.