Apple exec departs for Abercrombie
Luxury apparel retailer Abercrombie & Fitch Co. has lured away an executive from Apple Computer, Inc. to become its next chief financial officer.
In a press release, the New Albany, Ohio-based Abercrombie said Michael W. Kramer, 41, will become CFO, effective August 8, 2005.
"Mike has thrived in collaborative and creative environments throughout his career," said Mike Jeffries, chairman and chief executive officer of Abercrombie. "His understanding of leveraging the power of strong brands makes him a great new leader for the company."
Kramer joins Abercrombie from Apple, where he served as CFO for the company's retail division -- the most successful retail startup in recent times. He replaces Robert Singer, 53, who joined Abercrombie this year as its president and also held the CFO position following the departure of the company's chief operating officer Seth Johnson.
Kramer previously held retail positions at Gateway, Inc., Limited, Inc. and Pizza Hut, Inc. of Pepsico. He earned a B.A. in Business Administration and Accounting from Kansas State University and is a Certified Public Accountant.
There is so far no word on Kramer's replacement at Apple.
In a press release, the New Albany, Ohio-based Abercrombie said Michael W. Kramer, 41, will become CFO, effective August 8, 2005.
"Mike has thrived in collaborative and creative environments throughout his career," said Mike Jeffries, chairman and chief executive officer of Abercrombie. "His understanding of leveraging the power of strong brands makes him a great new leader for the company."
Kramer joins Abercrombie from Apple, where he served as CFO for the company's retail division -- the most successful retail startup in recent times. He replaces Robert Singer, 53, who joined Abercrombie this year as its president and also held the CFO position following the departure of the company's chief operating officer Seth Johnson.
Kramer previously held retail positions at Gateway, Inc., Limited, Inc. and Pizza Hut, Inc. of Pepsico. He earned a B.A. in Business Administration and Accounting from Kansas State University and is a Certified Public Accountant.
There is so far no word on Kramer's replacement at Apple.
Comments
What apparel do they carry that's luxurious? Last time I checked they sold wrinkled shirts and lowriding brown-stained jeans.
Personally, I don't consider Abercrombie clothing to be "luxurious" but I guess it must be considered luxurious since they charge $65 for a wrinkled pink polo.
PS-Why else would he leave apple?
For the $money$ of course. When you're that high up of an executive what other reason could it be for?
Originally posted by brent1a
"LUXURY apparel retailer..."What apparel do they carry that's luxurious? Last time I checked they sold wrinkled shirts and lowriding brown-stained jeans. Personally, I don't consider Abercrombie clothing to be "luxurious" but I guess it must be considered luxurious since they charge $65 for a wrinkled pink polo.
Lowriding brown-stained jeans and wrinkled pink polo are Luxury clothes if you are 10-18. Whats wrong with spending 65 of your parents dollars on a polo?
They had the best damn flannel shirts, but then they had to go and realize they could make a lot more money selling cheap crap to teenagers.
Originally posted by brent1a
PS-Why else would he leave apple?
For the $money$ of course. When you're that high up of an executive what other reason could it be for?
Actually, its the money and the promotion. CFO is a sweet job. Pretty much the ceiling for the accounting corps. You're way up the corporate ladder so you get all those perks and all, too. You get to do conference calls every quarter about your quarterly earnings. And you can funnel a ton of money off to the Caymans before anyone realizes it! Just look at Fred Anderson!
But maybe he's hoping to get in on some of that soft-core porn action that A&F uses for their marketing.
Oh, and isn't it hillarious that jeans we used to wear as kids now are sold in the condition that we used to stop wearing them because our mothers tossed them because they were so worn out and full of holes. Hell, if we just kept them then, we could making a fortune. Like people spending extra money on buying new 'distressed' furniture!
Originally posted by Louzer
Actually, its the money and the promotion. CFO is a sweet job. Pretty much the ceiling for the accounting corps. You're way up the corporate ladder so you get all those perks and all, too. You get to do conference calls every quarter about your quarterly earnings. And you can funnel a ton of money off to the Caymans before anyone realizes it! Just look at Fred Anderson!
But maybe he's hoping to get in on some of that soft-core porn action that A&F uses for their marketing.
Oh, and isn't it hillarious that jeans we used to wear as kids now are sold in the condition that we used to stop wearing them because our mothers tossed them because they were so worn out and full of holes. Hell, if we just kept them then, we could making a fortune. Like people spending extra money on buying new 'distressed' furniture!
EDIT: soft-core ANOREXIC/BOLEMIC porn.
half the time the chicks are so dang skinny in those xxx catalogs they almost look like boys.......
A guy who works for Pizza Hut then Gateway and now a sweatshop-clothing importer isn't the kind of guy we want at Apple. He's better off selling sugar-water.