REI is close to hiring a former executive of Coach as its new CEO, according to a report in the Wall Street Journal.
The Journal, citing anonymous sources, reported that REI is closing naming Jerry Stritzke to the position, which has been vacant since Sally Jewell was confirmed as the Secretary of the Interior earlier this year. Reached late Tuesday, an REI spokesperson said REI’s board has not yet completed the search process for the CEO and does not comment on rumors or speculation.
Stritzke, 53, is scheduled to step down as president and chief operating officer of Coach at the end of this week. Some analysts have speculated that he resigned after being passed over for the CEO post at Coach in February. Coach announced Stritzke's resignation July 30, when it reported its sales for the fiscal year ended June 29 reached $5.08 billion, up 7 percent.
Stritzke joined Coach as an executive officer in March 2008 and was named president and COO in July 2008. From 1999 through August 2007, Stritzke held several senior executive positions within the Limited Brands, Inc. organization. During that time, he held the positions of COO and co-leader of Victoria's Secret, which included Victoria Secret Stores, Victoria's Secret Direct, Victoria's Secret Beauty and Pink. He also served as COO of MAST Industries, the Limited's sourcing arm. Coach is best known for its luxury leather handbags, but also makes luggage, scarves and other accessories.