Howard Socol, CEO of Barney’s New York, is expected to resign soon, about a year ahead of his scheduled retirement. Reportedly Socol, who restored the company’s stature after it fell into bankruptcy in the 1990s, has disagreed sharply with the new owners of the chain over its
strategy, especially plans to expand the Barneys name overseas. Socol’s resignation is expected as early as next week by some sources. Finding a seasoned successor to guide the luxury retailer isn’t expected
to be easy, with no obvious inside candidate and a very shallow talent
pool outside. Hopefully, the new CEO and the Istithmar ownership won’t set Barneys back after Socol’s progress.
Source: NYTimes, WWD