The Limited interim CEO John Buell steps down after two months
The Limited announced on Thursday that John Buell has stepped down from the company after serving as interim CEO for two months.
Buell previously served as Chief Financial Officer before being named interim CEO succeeding Diane Ellis who left the company to join Chico’s as President. Buell parted ways with The Limited to serve as SVP and CFO of Altar’d State.
Founded in 1963, The Limited is a New Albany, Ohio-based women’s retailer that is responsible for brands Express (formerly known as Limited Express) and Justice (formerly known as Limited Too). The company owned the Victoria's Secret and Lane Bryant brands at one point, as well as one Henri Bendel store and a number of Abercrombie and Fitch stores. The Limited was acquired by Sun Capital Partners in 2007 and its remaining shares were purchased in 2010.
Columbus Business First reported this month that The Limited may lay off its entire staff and shutter all of its stores. The company notified the Ohio Department of Job and Family Services and sent a letter to the state explaining that the “mass layoff is expected to be permanent.” The Wall Street Journal added that the retailer hired Guggenheim Partners as financial advisor to explore sale possibilities.
Following Buell’s departure, The Limited said in a statement that the “existing executive team is working collaboratively on management of the company’s operations, and senior financial team personnel are continuing to oversee finances.”
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