Mike Edwards, who ran Lucy for more than three years, has left the chain following its recent sale to VF Corp. Michelle Lantow, chief financial officer, will serve as interim president until a permanent replacement is named by VF Corp.
Edwards signed on as president and CEO of Portland-based Lucy in 2004, just as the company was re-emerging from the dotcom bust and reinventing itself as a bricks-and-mortar retailer. The company secured several rounds of funding from its four investment partners and started rapidly expanding. Under his leadership, Lucy grew to 61 locations from 10 and relaunched its online store.
Edwards was expected to continue to lead the business from Lucys headquarters in Portland.
In his farewell message to employees, according to the Portland Business Journal, Edwards said that while VF Corp. brought the right mix of resources and capital to help Lucy continue its expansion, he is ready to think about his next challenge.
“I am and always will be an entrepreneur and I enjoy my personal independence. Thus, I have decided to leave Lucy to pursue my dreams,” he wrote.
