When it was announced that Glen Senk was leaving Urban Outfitters Inc. (NASDAQ: URBN) as Chief Executive Officer and as a board member after some 18 years, it was simply explained as “to pursue another opportunity.” Glen Senk will join luxury jeweler and watchmaker David Yurman as CEO effective February 27, 2012 and will be based in New York.
What else is there to say. Senk joined Anthropolgie in 1994 as a single-concept store and eventually took over the entire Urban Outfitters as CEO. While that trend had peaked out, Senk was credited for some of the leadership there that helped the company in its success.
The move in Urban Outfitters’ stock has been atrocious as the stock is now down 16% at $24.50. All growth stories peak at some point.
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