WWD.com/business-news/executive-changes/j-crew-promotes-libby-wadle-james-scully-6896773/
government-trade
government-trade

J. Crew Promotes Libby Wadle, James Scully

J. Crew Group Inc. has pumped up its organization with a string of high-level promotions, WWD has learned.

NEW YORK — J. Crew Group Inc. has pumped up its organization with a string of high-level promotions, WWD has learned.

Among the changes, Libby Wadle has been named president of the J. Crew brand, a new position in which she oversees both the retail and direct businesses of J. Crew, Crewcuts and J. Crew factory outlets.

James Scully, formerly chief administrative officer, has advanced to chief operating officer, taking over responsibilities for finance, real estate, legal, global supply chain, distribution centers, international and all office and administrative services.

“We don’t go to the outside often” to fill key positions, said Millard “Mickey” Drexler, chairman and chief executive officer. “Why go outside the organization when the people inside understand the values, concepts and strategies of the company and know how to perform and get quality results?”

Wadle has been executive vice president of J. Crew since September 2011 and before that was executive vice president of retail and factory. Earlier, she supervised the factory outlets and the Madewell division. Prior to J. Crew, she was with Coach Inc. and Gap Inc.

Scully was chief administrative officer since 2008 and was chief financial officer from 2005 to 2012. Prior to joining J. Crew, he was executive vice president of human resources and strategic planning of Saks Inc.

In other key changes:

• Two senior vice presidents of merchandising, Laura Willensky and Charlie Phillips, were promoted to executive vice presidents. Willensky continues covering women’s merchandising and Crewcuts, and Phillips continues handling men’s and factory.

• Tom Mora and Frank Muytjens have been elevated to senior vice presidents of women’s and men’s design, respectively. They were vice presidents.

• Mark Demott, formerly senior vice president, has been named executive vice president of brand creative, overseeing the design of the J. Crew catalogue and Web site.

• Charlie Miller, formerly a vice president, has risen to senior vice president of asset management.

Drexler characterized the promotions as recognition of strong performances by the individuals. They also reflect a solid 2012 for J. Crew, which cracked $2 billion in revenues for the first time, increased net profits 86.7 percent and opened a record number of stores. He said the promotions had nothing to do with succession planning. “No, not at all,” said the 68-year-old Drexler. “Anyone who is in a position such as mine has to think about that. But this is not at all any succession plan. This is a recognition of the team that has built and continues to build the J. Crew Group. Clearly it talks to us internally, about who the leadership is and a strengthening of that. We operate the company as really a partnership with a relatively flat organization.”

Drexler acknowledged that it’s been awhile since J. Crew had any high-level promotions, the last being about two years ago when Jenna Lyons was elevated to president and executive creative director of J. Crew Group.

According to a Securities and Exchange Commission filing, Drexler’s total compensation for fiscal 2012 came to $2,649,333, with cash incentive awards amounting to $2,400,000 and his salary at only $200,000.

Lyons earned $4,804,081, including a base salary of $1 million, $1.5 million in cash incentives and a special bonus of $1.5 million.

Scully earned $2,257,743 including $1,050,000 in cash incentives; and Wadle came out with $2,160,887 in total compensation, including $1,050,000 in cash incentives. Scully and Wadle each received a base salary increase from $700,000 to $750,000.

Stuart Haselden, chief financial officer, earned $780,883, got a salary increase from $400,000 to $415,000, and received $268,000 in cash incentives.