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Barneys will choose a search firm to find a successor.
Socol guided Barneys through a period of significant growth. Socol said it was his decision to leave.
From Tuesday’s WWD – Challenges for Barneys: Tough CEO Search Ahead as Economy Hits Growth
“After more than seven of the greatest years of my long career in retail, I felt it was time to take time to enjoy all the opportunities that life affords,” he said. “I felt strongly about remaining with the company for a short period following the sale to Istithmar as well as through the opening of our Las Vegas flagship. With the sale process well behind us and the Las Vegas location having opened in January of this year, this is the appropriate time to move forward."
During Socol’s tenure, Barneys opened four flagship stores, 15 Barneys NewYork Co-op stores and two outlets.
For complete coverage, see Wednesday's issue of WWD.