J. Crew Group Inc.’s chief financial officer Stuart Haselden jumped ship to join Lululemon Athletica Inc.
And he seems to fit the bill for his new job financially and physically.
Haselden, who held the additional titles of executive vice president and principal accounting officer at J. Crew, previously worked at Saks Inc. years and served as vice president of strategic planning.
At Lululemon, he will report to chief executive Laurent Potdevin, who noted, “Stuart’s extensive background in financial management with global apparel retailers is a perfect fit for Lululemon.”
But Haselden also fits the Lululemon brand. As the company noted, “Mr. Haselden has sustained a lifelong commitment to physical fitness rooted in his prior experience as a U.S. Army officer. He is an avid skier and runner and also enjoys cycling and outdoor activities.”
He will relocate with his family to Vancouver and takes over from the former cfo John Currie, who in June said he would retire.
At J. Crew, chief operating officer James Scully will step in as interim cfo while the company looks for a permanent replacement. Joan Durkin will serve as chief accounting officer.
J. Crew is at a bit of a crossroads as it looks for a new finance chief.
TPG and Leonard Green & Partners teamed up with chief executive officer Mickey “Millard” Drexler and took J. Crew private in 2011 in a $3 billion deal. Last year there were rumblings that owners wanted to sell the business to Fast Retailing, but the talks fell through. An IPO also seemed in the offing, but the market is now at a high and J. Crew has stumbled some.
Impairment charges and weakness in women’s led the company to a net loss of $607.8 million in the third quarter, while adjusted ebitda slipped to $80.9 million from $110.4 million a year earlier.