Abercrombie & Fitch Co. announced that Arthur C. Martinez will step down as Executive Chairman of its Board of Directors at the conclusion of its fiscal year ending February 3, 2018 in connection with his plans to retire as a Director and not stand for re-election at the company's 2018 Annual Meeting of Shareholders in June.

Terry L. Burman, Lead Independent Director and Chair of the Nominating and Board Governance Committee, will assume the role of Non-Executive Chairman at that time.

Martinez and Burman both joined the Board in January 2014. Martinez was appointed Non-Executive Chairman of the Board at that time, and has served as the company's Executive Chairman since December 2014.