L.L.Bean CEO to depart next spring
The search is on for a new chief executive at one of the country's most iconic outdoor gear and apparel retailers.
L.L.Bean said that president and CEO Stephen Smith will depart from the company in the spring of 2026 following a decade of leadership. The L.L.Bean board, led by chairman Shawn Gorman, great grandson of founder Leon Leonwood Bean, has initiated a search for Smith's successor, with an extended transition period in place to support a “seamless transition.”
Smith joined L.L.Bean in 2016 as the company's first-ever external CEO. The company credits him with championing a culture of “transparency, collaboration and cross-functional alignment” that has helped strengthen the organization. Smith helped modernize operations, enhance go-to-market capabilities, and helped the company navigate several challenges, including the COVID-19 pandemic, during which the company both achieved record profits and maintained its commitment to its stakeholders and employees.
Prior to joining L.L.Bean, Smith held high-level positions at Yihaodian, Walmart International and Asda.
"Steve's leadership has shaped L.L.Bean in ways that will endure well beyond his tenure," said Gorman. "His thoughtful decision making and deep care for this company, its history and its people have made us stronger and more connected. I've valued our partnership over the years and thanks to his leadership, we're well positioned for what's next."
L.L.Bean says that Smith will remain “fully engaged” in leading the company and transitioning responsibilities to his successor in early 2026, including focusing on continued growth, preparing for the upcoming peak season, and advancing the work outlined in the company's long-range "Vision 2030" strategic plan.
"Leading L.L.Bean has been one of the greatest privileges of my life," said Smith. "I've been fortunate to work alongside incredible people who care deeply about this company, our customers, and each other. Together, we've navigated change, celebrated success, and stayed true to what makes L.L.Bean special. Coming into a decade of leadership here marks a natural milestone and transition point for me personally, and for the organization. I'm excited for the next leader who will carry this work forward and shape the next generation of leadership at L.L.Bean."
[READ MORE: First Look: Camp L.L. Bean store opens in Maine]
Founded in 1912, L.L.Bean operates 65 stores in 19 states across the United States, along with 25 stores in Japan and 14 stores in Canada, in partnership with Jaytex Group.
