L.L.Bean has selected a new chief executive, naming veteran executive Greg Elder to lead the outdoor retailer into its next phase of growth.
Elder, who has spent nearly 20 years with the company, will take over as president and CEO following the planned departure of Stephen Smith in the spring of 2026.
Smith, who has led the business for a decade, will continue to advise the company through March.
Most recently serving as chief stores officer, Elder has overseen L.L.Bean’s stores, wholesale operations, international business, and direct-to-consumer channels.
He will become just the fifth president and CEO in the company’s 114-year history.
Elder will begin transitioning into the role during the first quarter, as L.L.Bean closes its fiscal year in late February.
His appointment comes as the retailer steps up expansion plans, including eight new store openings in 2026 — among them the brand’s first locations in Alabama and Tennessee — followed by an additional eight to 10 stores in 2027.
The company’s board launched a CEO search in July after Smith signaled his intention to step down. The process was led by board chairman Shawn Gorman, the great-grandson of founder Leon Leonwood Bean.
“We were deliberate in finding a leader who will continue to honor our brand heritage while positioning us for the next era of growth,” Gorman said.
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“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.”
In announcing the appointment, L.L.Bean said Elder will guide the next stage of its long-term strategy through an “evolve and amplify” approach, designed to build on the retailer’s legacy of quality, customer service, and outdoor tradition.
Elder joined L.L.Bean in 2007 after holding leadership roles at Eddie Bauer and Dayton Hudson Corp., now known as Target.
He is an active member of the Retail Industry Leaders Association and has previously served on the boards of Wayside Food Programs and the New England Nordic Skiing Association.
“It’s an incredible honor to be named CEO of L.L.Bean,” Elder said. “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.”
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