Pacsun co-CEO and board member Brie Olson has been named the company’s sole CEO, effective June 15.
The Gen Z-preferred fashion retailer also announced on Friday that Mike Relich will retire from his role as co-CEO, though he will continue to serve as vice chairman of its board of directors.
Pacsun appointed Olson as co-CEO in March, to serve alongside Relich. She previously served as Pacsun’s president and board member and was appointed co-CEO to replace Alfred Chang, who left the retailer after 17 years to join Fear of God as its CEO.
“I am excited to continue this adventure as the CEO of Pacsun, which is a cultural force on the forefront of fashion, music and sports,” Olson said in a statement. “It is a privilege to work beside our talented team to bring the best brands, curated products and most innovative collaborations to our community of passionate young people around the world. I would like to thank Mike for his partnership and look forward to continuing to collaborate with him on the board.”
Olson joined Pacsun in 2006 as senior design director for women’s. Throughout her 17-year tenure, she has served has chief brand officer, chief merchandising officer and SVP of merchandising and design. She was named president in 2021.
Pacsun also announced that Russell Bowers has been appointed COO and will continue to serve as CFO as well.
As the sole CEO of Pacsun, Olson is part of a growing roster of female CEOs across retail. As of Jan. 1, more than 10 percent of CEOs leading Fortune 500 Companies were women for the first time since the Fortune 500 list began 68 years ago. As of the summer of 2022, that percentage was closer to 8.8 percent. Amid a general shakeup across retail, CEO shifts have opened the door for new leaders — increasingly women — to come into the top position, which has been the case at Under Armour, Foot Locker and now Pacsun.