L.L.Bean Announces Promotion of Greg Elder to President and CEO

L.L.Bean, Inc. today announced the promotion of Greg Elder as its next president and chief executive officer. The selection culminates a comprehensive internal and external search to identify the right leader to steward the outdoor lifestyle brand’s continued growth. Elder has been with L.L.Bean for nearly two decades, most recently as chief retail officer where he oversaw stores, wholesale, international and direct to business. With this perspective, he will implement the next phase of the company’s long-term plan through an “evolve and amplify” strategy that builds on the 114-year-old retailer’s enduring legacy of quality, customer service and outdoor heritage.

Elder will begin to transition into the role in Q1 as the company wraps its fiscal year in late February. Outgoing CEO Stephen Smith will remain on board in an advisory capacity through March. Smith and Elder have worked closely together during the past decade as Elder held the vice president, stores; vice president, retail and chief retail officer positions.

“We were deliberate in finding a leader who will continue to honor our brand heritage while positioning us for the next era of growth,” said Shawn Gorman, chairman of the board of L.L.Bean and great-grandson of Leon Leonwood Bean. “Greg rose to the top because of his deep respect for our history, incredible knowledge of our business, strong track record of results and clear vision for the future.” 

Elder shared, “It’s an incredible honor to be named CEO of L.L.Bean. This brand has shaped who I am — not just as a leader, but as someone who deeply believes in the power of the outdoors to bring people together. We have a remarkable foundation built on purpose, quality and trust, and I’m excited to unlock sustainable growth through an ‘evolve and amplify’ strategy that strengthens our assortment and deepens our connection with customers for generations to come. I’m thankful to Steve for his leadership and mentorship, and I look forward to working closely with Shawn, the board and the entire L.L.Bean team to write our next successful chapter.” 

In July 2025, outgoing CEO Smith shared his decision to step away after 10 years leading the company. Shortly thereafter, the company’s Board of Directors, led by Gorman, initiated the search for a new CEO. 

“Leading the L.L.Bean team for the past decade has been the honor of my career,” Smith stated. “Together we’ve navigated extraordinary challenges, including the global pandemic, and created meaningful opportunities. Stewarding a brand with such deep heritage and customer loyalty – and helping so many experience the outdoors and the essence of Maine – has been truly rewarding. As I reflect on this chapter, I’m proud of what we’ve built and the foundation we’ve laid for the future. I have full confidence that Greg will continue to advance our existing strategic plan while bringing his own extraordinary vision and leadership strengths to guide L.L.Bean into its next era.”

Gorman added, “On behalf of the L.L.Bean Board and family, I want to thank Steve Smith for his leadership and partnership over the last decade and during this transition. Steve helped guide the company through meaningful cultural transformation while strengthening the business for the long term. His steady leadership, clarity of values and deep commitment to the people and purpose of the brand positioned the organization to evolve without losing sight of what makes it special. We are deeply grateful for his contributions and lasting impact.” 

As L.L.Bean’s next president and CEO, Elder will guide the company as it continues to evolve its omni-channel experience, expand retail presence in new and growing markets, and elevate its product assortment — all while preserving the values that have defined the brand for generations: quality craftsmanship, customer service and a meaningful connection to the outdoors. 

Elder joined L.L.Bean in 2007 following leadership posts at Eddie Bauer and Dayton Hudson Corporation (now Target). In addition to his contributions within L.L.Bean, Elder is an active member of the Retail Industry Leaders Association (RILA) and formerly served on the boards of Wayside Food Programs and the New England Nordic Skiing Association.