#United States #Freeport #Leadership Transition #L.L.Bean #Stephen Smith

Stephen Smith's Journey with L.L.Bean

L.L.Bean Inc., the iconic outdoor retailer based in Freeport, Maine, has officially announced that its President and CEO, Stephen Smith, will be stepping down in the spring of 2026. This decision comes after a remarkable ten years at the helm, where Smith has played a critical role in shaping the company’s direction and strategy during a transformative period.

Smith joined L.L.Bean in 2016, marking a significant moment as he was the first CEO from outside the founding family. His leadership has been characterized by a commitment to transparency, collaboration, and a focus on creating a strong, cross-functional culture within the organization. Under his guidance, L.L.Bean has modernized its operations, strengthened its market position, and navigated challenges, including those posed by the COVID-19 pandemic.

Reflecting on his time at L.L.Bean, Smith stated, "Leading L.L.Bean has been one of the greatest privileges of my life. I’ve been fortunate to work alongside incredible people who care deeply about this company, our customers, and each other. Together, we’ve navigated change, celebrated success, and stayed true to what makes L.L.Bean special." His decision to leave is described as a thoughtful transition, aimed at paving the way for the company’s future leadership.

In preparation for Smith’s departure, L.L.Bean's Board of Directors, headed by Chairman Shawn Gorman, has initiated a search for his successor. The board’s aim is to ensure a smooth transition, which will include an extended handover period enabling Smith to work closely with his successor to maintain continuity in leadership and strategy.

During Smith's tenure, L.L.Bean has seen significant growth and has remained committed to its core values, including a dedication to quality and customer service. One of the highlights of his leadership has been the implementation of the long-range strategic plan “Vision 2030,” which aims to position the company for sustainable growth in the future.

Gorman praised Smith's contributions, stating, "Steve's leadership has shaped L.L.Bean in ways that will endure well beyond his tenure. His thoughtful decision making and deep care for this company, its history, and its people have made us stronger and more connected." This sentiment reflects the strong foundation that has been built under Smith’s leadership, which is expected to guide L.L.Bean into its next phase.

As 2026 approaches, Smith will remain actively involved in the company, focusing on wrapping up his initiatives, preparing for the peak season, and ensuring that the upcoming leader has all the necessary tools to succeed. This period will also give him the opportunity to finalize the ongoing projects under the Vision 2030 umbrella, which aims at integrating new technology, enhancing customer experience, and broadening the company’s community engagement efforts.

Founded in 1912 by Leon Leonwood Bean, L.L.Bean started small, offering only the Maine Hunting Shoe to outdoor enthusiasts and has since evolved into a large multichannel retailer. Today, it retains a family-owned culture under Gorman’s leadership as the great-grandson of the founder. In 2024, L.L.Bean reaffirmed its commitment to the community by donating over $6.8 million to initiatives that enhance outdoor access and inclusivity.

As L.L.Bean prepares for this significant shift, the company remains focused on its core mission to provide quality outdoor gear and apparel while fostering a sense of community and belonging among its customers. With this transition, both the company and the outdoor community look forward to the next chapter in L.L.Bean’s legacy, confident that the foundation laid during Smith's era will support continued growth and innovation in the years to come.