Oxford Industries, Inc.
) recently announced that its chief executive officer (CEO) J.
Hicks Lanier intends to retire at the end of 2012, after
successfully leading the company for almost 35 years. However, even
after his retirement as CEO, he will remain associated with the
company as the chairman of the board.
J. Hicks Lanier, 72, is the son of the previous CEO, and has served
the company for 48 years, playing a crucial role in the development
of the Oxford. He has successfully steered the company from all the
challenges and now shall leave it in a profitable position.
After Mr. Lanier retires, Oxford's president and a current member
of the board, Thomas C. Chubb III, will take charge as CEO from Jan
Chubb, 48, started at Oxford as a summer intern in 1988 and joined
the company full time as an in-house attorney in 1989. He was
promoted to general counsel in 1999. He became the executive vice
president in 2004. In 2009, he was promoted to his present position
as Oxford's president. He was elected to the company's board in
June, 2012. Thus, Chubb has an association of 24 years with the
company and has played a key role in the company's strategic and
operational plans. Moreover, he has also helped Oxford move toward
a more brand oriented growth.
Management remains optimistic regarding Chubb's appointment and
expects the maker of Tommy Bahama, Lilly Pulitzer and other
clothing brands, to achieve new heights under his leadership. The
company has surpassed the Zacks Consensus Estimates in the past 15
quarters, except one, and we expect Chubb to maintain the trend in
the coming years.
Atlanta, Georgia-based Oxford Industries primarily deals in the
designing, manufacturing, marketing and sale of consumer apparel
products in the United States. The company which competes with
Ralph Lauren Corporation
) currently carries a Zacks #2 Rank, implying a short-term 'Buy'
rating on the stock. We are maintaining our long-term 'Neutral'
recommendation on the stock.
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