Aritzia (ATZ) said its founder and chief executive officer (CEO) Brian Hill is stepping down after
leading the Canadian clothing retailer for 38 years.
The Vancouver-based company, which went public in 2016, said current president and chief
operating officer (COO) Jennifer Wong will assume the CEO role, while Hill will stay on as
executive chair of the board.
Hill and his family founded Aritzia in 1984, while Wong started at the company in 1987 as a part-
time sales associate.
The change in leadership comes as the company continues its expansion plans in the U.S.,
which helped boost its net revenue growth in its last quarter by 66.1% from a year earlier.
Aritzia said net revenue in its fiscal fourth quarter came in at $444.3 million, up from $267.5
million for the same quarter last year. Net income was reported at $34.2 million, up 113% from
$16.1 million a year earlier.
Year to date, Aritzia’s stock is down 25% to $39.80 a share.
