Thrifty Banker
  • Politics
  • Business
  • World
  • Investing
  • Politics
  • Business
  • World
  • Investing

Thrifty Banker

Business

Abercrombie & Fitch is investigating abuse accusations against ex-CEO

by October 9, 2023
October 9, 2023
Abercrombie & Fitch is investigating abuse accusations against ex-CEO

Abercrombie & Fitch says it is investigating allegations that ex-CEO Mike Jeffries, who led the company for more than 20 years and defined its modern image, exploited men at sex parties he hosted.

BBC News reported on Monday that 12 men described attending or organizing events that included sex acts for Jeffries and his partner Matthew Smith. Some of those men said they were exploited or didn’t participate willingly. Those events took place from 2009 to 2015, according to the BBC.

Two of the men the BBC spoke to disclosed their identities on-the-record, and the BBC said it had confirmed key points of their stories by fact-checking emails, flight tickets and other documents as well as interviewing dozens of other people.

It was not clear if any of the men had filed police reports.

The BBC also reported that in the months before Jeffries left the company, a pension fund that had invested in Abercrombie & Fitch initiated a legal claim that the company had paid out settlements after allegations of ‘misconduct’ by Jeffries.

Michael Jeffries, then-CEO of Abercrombie, speaks at a conference in New York on Jan. 13, 2009.Mark Lennihan / AP file

Brian Bieber, Jeffries’ attorney, told NBC News that Jeffries would not comment on reports about his personal life. Smith did not respond to requests for comment.

In a statement emailed to NBC News, a spokesperson for Abercrombie & Fitch said the company was ‘appalled and disgusted’ by the allegations. It said that its current leadership and board were not aware of the allegations against Jeffries, and that it has engaged an outside law firm to investigate the issues raised by the BBC’s reporting.

Jeffries was CEO of Abercrombie & Fitch from 1992 to 2014. When he was hired, the company had recently emerged from bankruptcy and had a stodgy image. During his tenure, it became a much-imitated retailer that defined how younger people looked and dressed.

It was also frequently criticized and repeatedly boycotted for sexualized ads and messages on its clothes.

Later in Jeffries’ tenure, the company fell behind rivals and newer fast fashion competitors. Its financial results also began to weaken, which hurt the company’s stock. Jeffries lost his title as chairman following pressure from investors, and then left the company.

Most of Abercrombie & Fitch’s current management and board of directors joined after Jeffries left the company, although Fran Horowitz, who has been CEO since February 2017, was president of A&F’s Hollister brand for the last two months of Jeffries’ tenure.

This post appeared first on NBC NEWS
0
FacebookTwitterGoogle +Pinterest
previous post
Walmart says users of weight loss drugs are buying less food
next post
Rep. Goldman and family sheltered from Hamas rocket fire while in Israel for Bar Mitzvah

Related Posts

Biden administration to lower costs for 64 drugs...

June 28, 2024

Americans are feeling optimistic about the economy again,...

January 21, 2024

Why buying a house is still financially beneficial...

November 12, 2023

Collapse of fintech firm with 10M users leaves...

May 24, 2024

McDonald’s revenue disappoints as U.S. sales see worst...

February 11, 2025

Fed Chair Powell calls inflation ‘too high’ and...

August 26, 2023

Amazon reaches $2 trillion market cap for the...

June 27, 2024

Boeing and Airbus may have used ‘counterfeit’ titanium...

June 17, 2024

FTC asks to delay Amazon Prime deceptive practices...

March 13, 2025

Western craze boosts sales of Levi denim dresses...

June 29, 2024

    Sign up for our newsletter to receive the latest insights, updates, and exclusive content straight to your inbox! Whether it's industry news, expert advice, or inspiring stories, we bring you valuable information that you won't find anywhere else. Stay connected with us!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Popular

    • 1

      Strong Leach Recoveries and Low Impurities

      July 9, 2025
    • 2

      Waymo offers teen accounts for driverless rides

      July 9, 2025
    • 3

      Tesla asks shareholders to vote again on Musk’s $56 billion payout

      April 18, 2024
    • 4

      North Korea says it launched new ‘tactical nuclear attack’ submarine. South Korea doubts it works

      September 11, 2023
    • 5

      Eruption of Indonesia’s Mount Lewotobi Laki Laki volcano sends ash 11 miles high

      July 7, 2025
    • 6

      ‘This is a life-changing event’: Floridians start an arduous recovery as Idalia keeps thrashing North Carolina

      September 1, 2023
    • 7

      A GOP operative accused a monastery of voter fraud. Nuns fought back.

      January 3, 2025

    Categories

    • Business (1,069)
    • Investing (2,106)
    • Politics (2,977)
    • Uncategorized (20)
    • World (3,417)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: thriftybanker.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 thriftybanker.com | All Rights Reserved