A day after Nike announced the departure of former Hurley CEO Michael Egeck after a short stay, Eddie Bauer said this morning that Egeck will take over the CEO role there.
Egeck, a former VF Corporation executive who also worked previously at True Religion, joined Hurley in October 2011.
Golden Gate Capital is the majority owner of Eddie Bauer, which is based in Seattle.
Here is the full press release:
Eddie Bauer today announced that Michael R. Egeck has been named its President and Chief Executive Officer. Egeck was most recently CEO of Hurley International LLC, a leading marketer of action sports and youth lifestyle apparel, and a division of Nike, Inc. David Chamberlain, Executive Chairman of Eddie Bauer who has served as Interim CEO since February, will remain a member of the company’s board of directors.
Egeck, 53, is a well-known and highly respected industry leader who brings to Eddie Bauer significant specialty retail and sportswear experience as well as a proven track record of building leading apparel and outdoor brands. Egeck’s prior career highlights include serving as President of VF Corp’s North American Outdoor business, President of The North Face, Inc., and leading the sportswear division at Columbia Sportswear Company.
Josh Olshansky, Managing Director of Golden Gate Capital, the majority owner of Eddie Bauer said, “We are thrilled Mike has agreed to join Eddie Bauer. He is a proven leader with more than three decades of highly relevant sportswear, outdoor and specialty retail experience, and brings to Eddie Bauer an exceptional track record of growing brands, delivering strong operating performance and generating excellent financial results.”
Neale Attenborough, Operating Partner at Golden Gate Capital added, “Mike is one of the retail industry’s most successful merchant leaders. His specific outdoor apparel domain expertise and success in building global businesses make him the ideal person to lead Eddie Bauer and maximize the potential of this legendary brand. Having spent significant time with Mike, I am excited about what the future holds for Eddie Bauer.”
Egeck said, “I am a true believer in the power of the Eddie Bauer brand, which has a deep heritage of delivering high quality, innovative, and dependable clothing for the outdoor enthusiast. As CEO, I look forward to building upon the company’s strong partnerships, focusing on delivering the best service and products to our customers, and driving profitable growth. Furthermore, I am excited to work closely with Eddie Bauer’s strong management team and Golden Gate Capital, whose success in growing top-tier consumer brands is unmatched. This is a terrific opportunity and I’m ready to get started.”
Chamberlain said, “Mike is an inspiring and team-oriented leader with excellent management skills and a superb track record of delivering growth and stellar bottom line results. I am confident he will fit well with the talented team at Eddie Bauer and we are delighted that Mike has agreed to join us.”
Attenborough added, “On behalf of the Board and the entire company, I’d like to thank David Chamberlain for providing Eddie Bauer with steady and strong leadership for the past four months, and for ensuring a smooth transition.”
Eddie Bauer’s Board of Directors was assisted in the recruitment of Mr. Egeck by Herbert Mines & Associates.
Michael Egeck Bio
Prior to joining Hurley International, Egeck was President of True Religion Apparel, Inc. a position he held from June 2010 to September 2011. From 2007 to 2009, he was President of VF Corp’s Contemporary Brand Coalition, and was CEO of Seven For All Mankind from 2006 to 2007. From 2004 to 2006, he was President of VF Corp’s North American Outdoor business, where he was responsible for a portfolio of brands, including The North Face, Reef, JanSport, Eastpak, Napapijri and Vans. In this role, he oversaw an increase in revenues at VF’s Outdoor business from $1.0 billion to approximately $1.8 billion. Previously, Egeck was President of The North Face, Inc. where revenues grew from $220 million when he joined in 2000 to over $750 million in 2006. In 1992 Egeck joined Columbia Sportswear Company where he oversaw the launch of their sportswear division. Born and raised in Seattle, Egeck has a B.A. in Economics from the University of Washington and an M.B.A. from the Michael G. Foster School of Business at the University of Washington.
About Eddie Bauer
Established in 1920 in Seattle, Eddie Bauer is a specialty retailer that sells sportswear, outerwear, gear and accessories for the active outdoor lifestyle. The Eddie Bauer brand is a nationally recognized brand that stands for high quality, innovation, style and customer service. Eddie Bauer products are available at approximately 350 stores throughout the United States and Canada, through catalog sales and online at www.eddiebauer.com. Eddie Bauer is proud to be named a J.D. Power 2011 Customer Service Champion and is only one of 40 companies so named in the U.S. Eddie Bauer was purchased in 2009 in an all-cash transaction by Golden Gate Capital, a San Francisco-based Private Equity firm with over $12 billion under management and a leading investor in specialty retailing.
About Golden Gate Capital
Golden Gate Capital is a San Francisco-based private investment firm with approximately $12 billion of capital under management. The principals of Golden Gate have a long and successful history of investing across a wide range of industries and transaction types, including going-privates, corporate divestitures, and recapitalizations, as well as debt and public equity investments. Golden Gate is one of the most active investors in leading brands in the retail and restaurant sectors. Representative investments include California Pizza Kitchen, Eddie Bauer, J.Jill, Pacific Sunwear, Express, Zales, Romano's Macaroni Grill, and On the Border Mexican Grill. For additional information, visit www.goldengatecap.com.