Who is the owner of pacsun

What if when they disagree? Nothing happens? Co-CEOs makes sense in the case where one is transitioning into the role and the other out. As a long-term strategy, it sets the stage for disagreement and communication dissonance.

There can only be one point on the spear for it to be effective. One CEO and another C-level role to lead certain functions is a better path. PacSun is not of that size and complexity. So this sounds like a compromise; a transitional arrangement. Both of us bring shared and individual skill sets to the table; we have a strong relationship so we are able to easily let one of us take the lead when necessary.

One CEO, maybe both, would push to be the dominant leader; the people who work with them will seek a dominant leader as well. When it comes to PR, somebody has to be the face of the company. I am all for shared leadership in terms of roles and responsibilities but at the end of the day, the buck needs to stop somewhere clear. The only time it really works is in the case of co-founders taking on the CEO job jointly like Warby Parker or Allbirds.

However as the business really scales in size, it may be better served with one CEO. I honestly believe that one or the other has the extra vote, or confusion starts to enter the company.

Sometimes that can get very sticky and radiate through the entire empire. It scares me a bit. These co-leaders represent two different and complementary dimensions. Mike Relich has forgotten more than most retail execs have ever known and he is an expert tech enabler.

Seems like a win-win to me. Larger organizations may gain more from such relationships, in part because they have more to manage. At higher levels within conglomerates, there are already multiple CEOs and few CEOs have the full scoop on everything going on in their firms. The co-CEO option allows for closeness, easier succession planning, less exec burnout, and the ability to bounce ideas and concepts off each other.

The distribution of ownership needs to be right to make it work. Looking at this from the outside, it appears PacSun has chosen two retail leaders with very complementary skill sets to lead the company. I suspect they will be in good hands going forward without much conflict. Is this a long-lasting arrangement? Time will tell if this is transitional or long-term. Is having two CEOs more or less likely to succeed than having one? View Results.

Skip to main content. Braintrust "This sounds like a compromise; a transitional arrangement. Co-CEO's isn't the story. It's the first paragraph in an unfolding story. Long before the onset of COVID, apparel and footwear companies had to contend with the retail apocalypse, which led to a rash of bankruptcies across the country.

One such victim was PacSun, which filed for Chapter 11 protection in At the time, the skate- and surf-inspired retailer struggled to position itself as a brand, as well as faced a heavy debt load and saw declining foot traffic at malls, where most of its shops were located.

However, through a debt-for-equity agreement, PacSun was able to reorganize and close only about 20 of its thenplus units.

It negotiated better rent deals with its landlords, received a new credit line to help cash flow, rebranded to draw in younger millennial and Gen Z consumers — and ultimately emerged from bankruptcy on firmer footing. We [wanted] to truly be a lifestyle brand that matters to and connects with our consumers.

Over the past year, Americans were facing a confluence of emergencies: the global health crisis, an economic recession and civil unrest. For PacSun, these overlapping adversities became the catalyst for PacCares — a philanthropic initiative launched later in the year centered on the health and wellbeing of its community.

As part of the program, the retailer partnered with a network of charitable organizations dedicated to mental health, diversity and equality. Plus, PacSun created in the fall a Gen Z-targeted open forum through PacTalks — a biweekly Instagram Live series, moderated by experts and A-listers, like youth activist Naomi Wadler and actress Yara Shahidi, who discuss subjects like voting, social media stress relief, inclusivity and more.

But beyond its portfolio of top brands, the chain is recognized for its high-profile collaborations with influencers like Emma Chamberlain and Bryce Anderson, with whom it released a new gender-free collection as part of its summer campaign.

Moreover, early this year, PacSun introduced Circulate Market — a new concept that brings together a collection from six Black-owned brands, curated by longstanding brand partner Circulate and its owner, Corey Populus. Samantha McDonald.