Millard “Mickey” Drexler, chairman and chief executive officer of J. Crew Group Inc., has a new contract that will keep him on the job until after his 70th birthday.
As part of the acquisition of J. Crew by TPG Capital and Leonard Green & Partners that closed on March 7, Drexler, 66, signed a new employment agreement that runs through the fourth anniversary of the acquisition in 2015. After that date, it is automatically renewed for one-year extensions without limit unless Drexler or the company provides notice of nonrenewal at least three months before its anniversary.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"