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Lands' End top execs resign
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October 28, 1998: 9:43 a.m. ET
Catalog retailer's vice chairman and CEO quit; industry consultant takes over
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NEW YORK (CNNfn) - Lands' End, a catalog retailer of casual apparel and accessories, is introducing a new management team with its fall lines.
The Dodgeville, Wis., company Wednesday named David Dyer, an industry consultant and former employee, as its new president and chief executive officer after announcing the resignation of top executive Michael Smith.
Lands' End's vice chairman of sales, William E. Ferry, also resigned.
The company gave no explanation for Smith's and Ferry's departure, nor did it name a replacement for Ferry.
Lands' End couldn't immediately be reached for comment.
Dyer, 49, also was elected to the Lands' End board of directors. He worked for Lands' End from July 1989 until August 1994, rising to vice chairman of sales. He then left to head Home Shopping Network.
For the last three years, he has been a catalog/retail consultant.
"We are sincerely grateful to both Mike and Bill," said company founder and Chairman Gary C. Comer. "We especially appreciate their help in reaffirming the core values of the company, which are at the heart of our people's dedication to product quality, customer service and fair value."
Lands' End shares (LE) finished Tuesday at 18-1/2 on the New York Stock Exchange.
The company, founded in 1963 as a catalog that sold sailboat hardware and equipment, had 1997 sales of $1.1 billion. 
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Lands' End
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