Abercrombie's CEO Battle Is Now Down to Two Contestants

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It's been a year since Abercrombie & Fitch ousted CEO Mike Jeffries and an ensuing internal competition rose over the vacancy, and now the retailer is finally making some leadership announcements. Abercrombie just promoted Hollister brand president Fran Horowitz to serve as the entire company's president and chief merchandising officer, a newly created position that will encompass merchandising, design, planning, inventory management, marketing, and stores.

Abercrombie expects to name new presidents for each of its brands, as Horowitz's old position is now open and Christos Angelides, Abercrombie's brand president, has been fired. The company pitted Horowitz, Angelides, and chief operating officer Jonathan Ramsden against each other back in May as it searched for a replacement for Jeffries.

Abercrombie's public filing detailing the leadership changes notes that Angelides's employment with the company was terminated without cause; his departure leaves Horowitz and Ramsden as Abercrombie's top internal candidates for the CEO position.

Update: Abercrombie & Fitch Co. Executive Chairman Arthur Martinez told Bloomberg that the company has postponed their CEO search for now. "Given our encouraging performance, the board believes we’re on the right track and we intend to continue with the current governance structure," Martinez said in a statement to Bloomberg. "We are not actively conducting a search for a CEO at this time."