FREEPORT, Maine – L.L.Bean has promoted chief retail officer Greg Elder to serve as president and chief executive officer, elevating a longtime company executive following what L.L.Bean described as a comprehensive internal and external search for its next leader.
Elder has been with L.L.Bean since 2007. In his most recent role as chief retail officer, he oversaw the company’s stores, wholesale, international, and direct-to-business operations.
The company said Elder will transition into the top job during the first quarter as L.L.Bean wraps up its fiscal year in late February. Outgoing CEO Stephen Smith will remain in an advisory role through March, according to the company.
Smith announced in July 2025 that he planned to step away after 10 years leading the outdoor retailer, prompting the board of directors to launch a search for his successor. L.L.Bean’s board is chaired by Shawn Gorman, identified by the company as the great-grandson of founder Leon Leonwood Bean.
Before joining L.L.Bean, the company said Elder held leadership roles at Eddie Bauer and Dayton Hudson Corp., now Target. L.L.Bean also said Elder is involved with the Retail Industry Leaders Association and has served on nonprofit and regional sports organization boards.
Founded in 1912, L.L.Bean is a multichannel seller of outdoor gear and apparel and remains family owned, the company said. It operates 68 stores in 19 U.S. states, along with 25 stores in Japan and 14 in Canada through a partnership, according to the company.
