Following the departure of creative director Jenna Lyons, J.Crew has just lost their CEO, Mickey Drexler.

Drexler has been with the brand for 14 years. He will stay on as Chairman until mid-July and will be succeeded as CEO by James Brett, who is currently the president of West Elm.

About his departure Drexler has said:

“It’s a large day for me. I have been running companies for 37 years and the announcement today is a major change in my life… I am excited about where the team is and the strategic plans we have. There’s excitement about J. Crew and Madewell – brands that people love and admire.”

It will be interesting to see how J.Crew develops under new leadership and without its iconic creative director. Stay tuned for more details.