New York & Co. CEO to retire in February

New York City New York & Co. said Thursday that its longtime CEO and chairman will retire next year and be replaced by a former top executive at Bebe Stores.

Richard P. Crystal, 65, will retire Feb. 11. He became CEO at the retailer in 1996 and was named chairman eight years later when the company went public.

Crystal will be succeeded by Gregory Scott, the 47-year-old former CEO of Bebe Stores, who resigned from the company last January. Scott will become a president at New York & Co. on June 1 when he begins working for the New York retailer and will also join its board of directors. He will become CEO after Scott officially retires.