L.L. Bean Changes Leadership With New CEO
Chris McCormick was named president/CEO of L.L. Bean yesterday, replacing Leon A. Gorman, who will maintain an active role as chairman of the board of directors.McCormick, who joined the Freeport, ME-based company in 1983 as assistant advertising manager, was previously the company's chief operating officer. He also served as senior vice president and chief marketing officer.
Gorman, 66, is the grandson of company founder Leon Leonwood Bean. Following the death of his grandfather in 1967, Gorman took over as president. He has taken the company from four catalogs, one store and $5 million in annual net sales to a multichannel company with more than 50 catalogs and $1.1 billion in annual net sales.
