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Abercrombie Opts Not to Lose Its Head

Rich Duprey
December 9, 2013

Not that it's any big surprise, but the Abercrombie & Fitch (NYSE: ANF) board rejected the advice of one shareholder and will keep CEO Michael Jeffries on the job after his current contract expires in February.

Last week, Engaged Capital launched a somewhat quixotic campaign to oust the CEO on the grounds that he lacks the acumen to lead the teen retailer. While the board ignored the recommendation, it did alter his compensation plan a bit, providing no retention or sign-on bonuses, eliminatin