J.Crew CEO Mickey Drexler, who helped turn the American purveyor of preppy clothing into a globally-recognized brand worn by the Obamas, diehard menswear nerds and average Joes alike, is stepping down from his post, according to the Business of Fashion.

The announcement comes at the heels of several high-profile departures from the label, including Jenna Lyons, the creative director who helped propel the brand's image as a modern American clothier with a twist, and Frank Muytjens, the menswear head of design who made slim-fit chinos, rumpled oxford shirts, and bleeding madras all the more accessible to everyday dudes. Muytjens' designs even garnered him a nod as one of GQ's Best New Menswear Designers in America in 2010.

Drexler will remain J.Crew's chairman, but his CEO mantle will be inherited by Jim Brett, who recently served as the president of West Elm, an upscale home furnishings company.

“This is an exciting time for J.Crew as we continue to make significant changes to position our company for long-term success,” Drexler says in a statement to BOF. “As chairman and an owner of the company, it is my responsibility to focus on the future of J.Crew and find the right leadership to execute on our strategic plans.”

In other J.Crew news, check out the brand's latest collaboration with New Balance, inspired by the caffeinated cortado beverage.

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