L.L.Bean, Inc. has named current Chief Retail Officer (CRO) Greg Elder as its next president and CEO. The company said in a media release that Elder will begin transitioning into the role in the first quarter, as the company wraps its fiscal year in late February.
Outgoing CEO Steve Smith will remain on board in an advisory capacity through March. Smith and Elder have worked closely together over the past decade, with Elder holding VP of Stores, VP of Retail and CRO positions in the company.
Elder joined L.L.Bean in 2007 after leadership roles at Eddie Bauer and Dayton Hudson Corp./Target Corp.
L.L.Bean said the selection of Elder for the CEO role “culminates a comprehensive internal and external search to identify the right leader to steward the outdoor lifestyle brand’s continued growth.”
“We were deliberate in finding a leader who will continue to honor our brand heritage while positioning us for the next era of growth,” said Shawn Gorman, chairman of the Board of Directors at L.L.Bean, and great-grandson of company founder Leon Leonwood Bean. “Greg rose to the top because of his deep respect for our history, incredible knowledge of our business, strong track record of results and clear vision for the future.”
The company noted that Elder has been with L.L.Bean for nearly two decades.
“With this perspective, he will implement the next phase of the company’s long-term plan through an ‘evolve and amplify’ strategy that builds on the 114-year-old retailer’s enduring legacy of quality, customer service and outdoor heritage.”
Elder shared, “It’s an incredible honor to be named CEO of L.L.Bean. This brand has shaped who I am, not just as a leader, but as someone who deeply believes in the power of the outdoors to bring people together. We have a remarkable foundation built on purpose, quality and trust, and I’m excited to unlock sustainable growth through an ‘evolve and amplify’ strategy that strengthens our assortment and deepens our connection with customers for generations to come. I’m thankful to Steve for his leadership and mentorship, and I look forward to working closely with Shawn, the board and the entire L.L.Bean team to write our next successful chapter.”
In July 2025, outgoing CEO Steve Smith shared his decision to step away after 10 years leading the company. Shortly thereafter, the company’s Board of Directors, led by Gorman, initiated the search for a new CEO.
“Leading the L.L.Bean team for the past decade has been the honor of my career,” Smith stated, “Together, we’ve navigated extraordinary challenges, including the global pandemic, and created meaningful opportunities. Stewarding a brand with such deep heritage and customer loyalty – and helping so many experience the outdoors and the essence of Maine – has been truly rewarding. As I reflect on this chapter, I’m proud of what we’ve built and the foundation we’ve laid for the future. I have full confidence that Greg will continue to advance our existing strategic plan while bringing his own extraordinary vision and leadership strengths to guide L.L.Bean into its next era.”
Gorman added, “On behalf of the L.L.Bean Board and family, I want to thank Steve Smith for his leadership and partnership over the last decade and during this transition. Steve helped guide the company through meaningful cultural transformation while strengthening the business for the long term. His steady leadership, clarity of values and deep commitment to the people and purpose of the brand positioned the organization to evolve without losing sight of what makes it special. We are deeply grateful for his contributions and lasting impact.”
In addition to his contributions within L.L.Bean, Elder is an active member of the Retail Industry Leaders Association (RILA) and formerly served on the boards of Wayside Food Programs and the New England Nordic Skiing Association.
Images courtesy L.L.Bean
