Clothing and outdoor retailer LL Bean has announced the planned departure of its long-time CEO and president Stephen Smith.

Smith will leave the company next spring following a decade of leadership at the business.

Smith joined LL Bean in 2016 as the company’s first-ever external CEO. He has helped strengthen the organization through modernized operations and enhanced go-to-market capabilities, as well as led the company through unprecedented challenges like the pandemic.

“I’ve been fortunate to work alongside incredible people who care deeply about this company, our customers, and each other,” Smith commented.

“Coming into a decade of leadership here marks a natural milestone and transition point for me personally, and for the organization,” he added.

Smith will remain fully engaged in leading the company and transitioning responsibilities to his successor early next year.

The board has initiated a search for a new CEO, with an extended transition period in place to support a seamless handoff.

Founded in 1912, LL Bean operates 65 stores in 19 states across the US, along with 25 stores in Japan and 14 stores in Canada, in partnership with Jaytex Group.