How Abercrombie's ex-CEO almost sank the company
Briefly

"Mike Jeffries, the former CEO of Abercrombie & Fitch Co, was arrested on Tuesday in Florida, accused of sex trafficking and using his perch atop the fashion clothier to coerce men into sex for a chance to model for the brand."
"According to the indictment, Jeffries, his partner Matthew Smith and an employee of theirs, James Jacobson, allegedly ran an international sex trafficking and prostitution ring from 2008 to 2015, a period that largely overlapped with Jeffries' time as CEO from 1992 to 2014."
"Eventually some of Jeffries' eyebrow-raising behavior came to the surface. In early 2010s news reports on his excesses included a questionable use of company funds on travel, a big role for his spouse in running the business, a manual with detailed instructions on how he was to be addressed by staff on the corporate jet, and how those staff members should dress."
"Jeffries also exhibited an autocratic streak as a leader, and disdain for people he thought beneath him: he infamously said Abercrombie & Fitch was only for 'cool' people. That top-down management approach worked well...until it didn't."
Read at Fortune
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