- Abercrombie & Fitch (ANF -2.7%) decided to ignore the unsolicited advice of Engaged Capital to fire CEO Mike Jeffries when it gave the exec a new contract, but the leash this time around looks shorter.
- Jeffries is on a performance-based compensation plan and the retailer has three new brand presidents who will be groomed for succession.
- Still, Engaged isn't taking the news lightly. The firm expressed displeasure with the move and says it will consider "all options" when taking on the ANF board.
Engaged to Abercrombie & Fitch: We're not going away
Dec 9 2013, 13:17 ET