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J. Crew President Sets Sail

Jeffrey Pfeifle ends a 15-year working relationship with CEO Mickey Drexler.
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SAN FRANCISCO --

J. Crew

(JCG)

President Jeffrey Pfeifle, who for years served as right-hand man to Chief Executive Mickey Drexler, will step down from his position.

Pfeifle, whose time with Drexler stretches back to when the two worked for

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, plans to leave J. Crew on Feb. 1. The company didn't give a reason for his departure.

"I have been fortunate to work with Mickey and such a talented team, and I am proud of what has been accomplished at J.Crew," Pfeifle said in a statement.

Pfeifle's time with Drexler dates back 15 years, the last five of which were spent building J. Crew from a struggling catalog business into a well-respected brand that has outperformed its peers.

"He has made significant contributions to our business," Drexler said of Pfeifle. "I very much appreciate our working relationship and wish him the best."

Shares of J. Crew were down 2.1%, or 84 cents, to $39.15 in after-hours trading.

Pfeifle came to J. Crew in 2003, one month after Drexler was named CEO. Before that, he had served as vice president of product and design in 1995 for Old Navy, a division of Gap. During that same period, Drexler had been serving as Gap's CEO.

Pfeifle had also worked as vice president in 1993 of men's product and design for Gap's Banana Republic division. Drexler, meanwhile, was serving as the company's president.

J. Crew said it has no plans to fill Pfeifle's vacancy, and will instead disperse his responsibilities among other members of the executive team.