L.L. Bean, Freeport’s landmark business, announced Tuesday that Stephen Smith will take over as the company’s new president and chief executive officer, succeeding Chris McCormick, who is retiring.
Smith will assume his new duties in January. McCormick, president and CEO for 15 years, transitions out of the job in February. Smith will be the fourth president in the retail giant’s history.
“I welcome the opportunity to lead one of the world’s best brands, known for quality products and outstanding customer service,” Smith said in an L.L. Bean press release. “L.L. Bean is a company I have long admired, both as a customer and as a retailer. I also am looking forward to returning to Maine where my family has deep ties and where we can embrace our love of the outdoors.”
According to the release, Smith comes to L.L. Bean with extensive experience in the retail industry. He is well-acquainted in customer relationship management, strategy, brand development, marketing and merchandising across all channels, according to the press release.
“We are very pleased with the selection of Steve Smith as our next president,” said Shawn Gorman, L.L. Bean chairman of the board. “Hiring a CEO who embodies the values of Bean was a top priority for the family and the board, and I am confident we have done just that. He has a deep understanding of and appreciation for customer needs, and multi-channel retailing, which is well aligned with our approach here at L.L. Bean.”
The release said Smith began his career in New York, but moved to Maine in the late 1990s when he joined Resort Sports Network, where he became vice president of sales and marketing. He moved to Hannaford Supermarkets as director of marketing, and since then has held several executive-level roles at both American and international retailers, including Sweetbay Supermarkets and Delhaize Le Lion (sister companies of Hannaford) in Florida and Belgium; and Walmart International subsidiaries, including Sam’s Club in China, ASDA in the United Kingdom; and Yihaodian, an e-commerce business located in Shanghai.
McCormick, who spent 33 years with L.L. Bean, was the company’s first leader from outside the family, in 2001 succeeding Leon Gorman. Gorman died on Sept. 3.
Stephen Smith, the new president of L.L. Bean, says he is looking forward to returning to Maine.
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