Former President, COO Returns to St. John
Bruce Fetter, who joined luxury knits maker St. John in 1997 and resigned from his posts of president and chief operating officer in March 2005 is back.
The $400 million maker of figure-flattering wool suits has been the subject of much interest since a much-ballyhooed new design aesthetic led to a shakeout of its executive ranks.
In 2005 the 44-year-old brand attempted to reach out to a younger and sexier client with slinky shapes and lean silhouettes. Founding designer Marie Gray and daughter, St. John’s co-president and longtime model Kelly Gray, left the company, leaving design duties to designer Tim Gardner. The aftermath and displeasure of St. John’s core customers left the Irvine, Calif.–based company with slumping sales.
In April, chief executive Richard Cohen left his post after little more than a year on the job. His post has yet to be filled. Board member Phillip Miller, former chief executive of Saks Fifth Avenue, is serving as the interim chief executive. Gardner left the company in August. St John has not hired his replacement.
Now, the company appears to be attempting to get back to its roots. Marie Gray has returned as a design consultant and the design aesthetic is returning to its classic fits and styles, with the more fashion-forward pieces taking a back seat to the company’s trademark suits.
Fetter’s appointment, which is effective Nov. 1, is another step toward the St. John of old.
“We are thrilled to have an executive of Mr. Fetter’s expertise,” Miller said in a statement. “His understanding of St. John’s operational, structural and financial functions, as well as the unique connection between St. John and our customers, makes him unequivocally the best person for this job. We are excited to have him on board.”
Fetter will report directly to Miller until a permanent chief executive joins the company. He will also serve on the board of directors. —E.B.
