L.L. Bean has announced a major leadership transition, naming longtime executive Greg Elder as its next president and chief executive officer. The appointment signals continuity for the iconic outdoor retailer, which has increasingly relied on internal leadership to navigate a rapidly evolving retail landscape shaped by digital transformation, shifting consumer expectations, and economic uncertainty.
The company confirmed the leadership change in January 2026, noting that Elder will begin easing into the CEO role during the first quarter of the year. He succeeds Stephen Smith, who is stepping down after a decade at the helm. Smith will remain involved with the business in an advisory capacity and will continue serving on the board through March to ensure a smooth transition.
A nearly two-decade career at L.L. Bean
Greg Elder brings deep institutional knowledge to the role, having spent nearly 20 years at L.L. Bean. He joined the company in 2007 and has since held a series of senior leadership positions that placed him at the center of the retailer’s core operations. Over the years, Elder has served as vice president of stores, vice president of retail, and most recently as chief retail officer.
In his latest role, Elder oversaw a broad portfolio that included L.L. Bean’s retail stores, wholesale business, and other operational functions. This experience gives him a comprehensive view of the company’s omnichannel strategy, from physical locations to partnerships and brand distribution beyond its own stores.
Before joining L.L. Bean, Elder built his retail leadership credentials at Eddie Bauer and at Dayton Hudson Corporation, now known as Target. That background blends specialty outdoor retail with big-box operational discipline, a combination that has proven valuable as L.L. Bean balances heritage with modernization.
Leadership continuity after a decade of change
Outgoing CEO Stephen Smith leaves behind a company that has undergone significant change during his 10-year tenure. Under Smith’s leadership, L.L. Bean expanded its digital capabilities, refined its retail footprint, and worked to modernize the brand while staying rooted in its outdoor heritage and customer-first values.
Smith and Elder have worked closely together throughout this period, making the transition less of a handover and more of a continuation. According to the company, Elder’s appointment followed an extensive internal and external search, suggesting the board weighed outside options before ultimately choosing a leader who knows the business intimately.
This decision reflects a broader trend in retail, where companies facing complex operational and cultural challenges increasingly favor internal candidates who understand both the brand’s legacy and its future direction.
What Elder’s appointment signals for L.L. Bean
Elder’s promotion suggests that L.L. Bean is prioritizing stability and execution over dramatic strategic shifts. With pressure on discretionary spending, intense competition in apparel and outdoor gear, and ongoing changes in how consumers shop, continuity can be a strategic advantage.
As chief retail officer, Elder played a key role in aligning stores, wholesale, and other channels, an increasingly important task as retailers aim to deliver seamless customer experiences. His elevation to CEO may indicate continued focus on omnichannel integration, disciplined growth, and protecting the brand’s reputation for quality and service.
At the same time, Elder steps into the role at a moment when outdoor retailers face new tests, from supply chain volatility to evolving expectations around sustainability and value. His long tenure positions him to balance innovation with L.L. Bean’s long-standing principles.
A new chapter rooted in experience
L.L. Bean’s flagship store in Freeport, Maine, long a symbol of the brand’s heritage, underscores the importance of leadership that respects tradition while adapting to change. By choosing a CEO who has grown within the company, L.L. Bean appears to be signaling confidence in its current direction and its ability to evolve without losing its identity.
As Greg Elder takes the helm in 2026, investors, employees, and customers alike will be watching how he builds on the foundation laid by Stephen Smith. With deep experience across retail operations and a strong understanding of the brand, Elder’s leadership marks a new chapter that is firmly grounded in L.L. Bean’s past while looking ahead to its future.
