Millard “Mickey” Drexler has stepped down as J. Crew's CEO after 14 years at the company, according to Women's Wear Daily.
He will be replaced by Jim Brett, who previously served as the president of the specialty home furnishing company West Elm. Brett will take over as CEO in July and will join the company's board of directors.
Drexler will stay on as chairman of the company.
"Jim has a proven track record of pushing for innovation and growing omni-channel brands," Drexler said, referring to Brett's appointment. "I look forward to moving into my new role and assist[ing] Jim and the team in every way possible to help ensure a smooth and successful transition."
This news follows the departure of J. Crew's former creative director, Jenna Lyons, who left the company in April after 26 years.
"This is an exciting time for J.Crew as we continue to make significant changes to position our company for long-term success," Drexler said in a statement. "As chairman and an owner of the company, it is my responsibility to focus on the future of J.Crew and find the right leadership to execute on our strategic plans."
Brett released a statement saying he is honored to be chosen for the new role and looks forward to leading the company "through its next phase of growth."