Brie Olson, CEO PacSun, head shot
Source: PacSun

PacSun last week said it was ending its successful co-CEO strategy and that it would go the traditional route of having one chief executive lead the company starting on June 15.

Brie Olson, named co-CEO in March, will take the helm at PacSun. Mike Relich, her co-CEO, will retire and transition to a new role as vice chairman of the retailer’s board of directors.

“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. 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,” said Ms. Olson in a statement.

Ms. Olson, in her co-CEO role, paired her design and marketing expertise with Mr. Relich’s operations, supply chain and technology acumen.

PacSun has credited her with the launch of the curated PS Reserve online platform and store-within-a-store concept, opening new stores and “establishing a new feedback channel” between frontline staff and the chain’s buying and design teams.

Ms. Olson began her PacSun career in 2006 as senior design director (women’s) and worked her way up the ladder to roles including chief brand officer, chief merchandising officer and senior vice president of merchandising and design.

She was promoted to president in May 2021 and joined the company’s board.

She has overseen “the design and execution of multiple partnerships” at PacSun, including Emma Chamberlain, Formula 1, The Metropolitan Museum of Art and Storm Reid. Ms. Olson was behind the debut of the chain’s first gender-neutral collection, Collection Theory, and led the company’s move into children’s clothing with PacSun Kids.

She has also driven PacSun’s metaverse marketing efforts on Roblox and its relationship with virtual influencer Miquela. Ms. Olson gained outside recognition for her brand and marketing efforts in 2022, being named to “top” lists by AdAge and Glossy.

Russell Bower will continue to serve as chief financial officer at PacSun. He will also become the retailer’s chief operations officer, putting him in an expanded role in charge of finance, information technology and operations.

BrainTrust

“This sounds to this outsider like a solid transition plan. Assuming that Co-CEOs share a vision for the company and agree on the company’s direction.”

Gary Sankary

Retail Industry Strategy, Esri


“Brie Olsen is a rock star. She is visionary who is embracing the new retail, making immersive and virtual commerce work and 100% gets who her customer is. A great move.”

Michael Zakkour

Founder – 5 New Digital &International Marketing Lead at UNILEVER


“Co- Ceo’s is a tough act to pull off, but when it works, it works really well, typically blending a merchant with an operationally focused partner.”

Peter Charness

Retail Strategy – UST Global

Discussion Questions

DISCUSSION QUESTIONS: Do you expect PacSun to transition smoothly from its co-CEO framework to a single leader? Is the chain taking the proper steps to ensure its information technology and operational strengths remain strengths going forward?

Poll

How likely is PacSun to successfully transition from co-CEOs to one CEO?

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20 responses to “Will One CEO Work Better Than Two For PacSun?”

  1. Bob Amster Avatar
    Bob Amster

    Ms. Olson hs the opportunity to surround herself with executives capable of filling whatever voids Mr. Relich may leave behind. This is done everyday in retail and other industries, therefore, there is little reason it would not work for PacSun.

  2. Peter Charness Avatar
    Peter Charness

    Co- Ceo’s is a tough act to pull off, but when it works, it works really well, typically blending a merchant with an operationally focused partner. That said Retail (or any organization frankly) works best with an empowered team, with a great team leader at the helm. So moving to a single CEO framework shouldn’t pose issues, if the team is gels working with the leader.

  3. Ken Morris Avatar
    Ken Morris

    Brie Olson going solo makes sense. The co-CEO team was complementary, with Olson coming up via a design and marketing path and Relich through operations and tech. I believe their co-CEO strategy is a model for others. It allowed for a smooth transition to power and profitability instead of a state of home office turmoil and turnover. PacSun has done a lot of things well, and they are poised to continue their growth via technology, partnerships, and innovative branding. 

  4. Gary Sankary Avatar
    Gary Sankary

    This sounds to this outsider like a solid transition plan. Assuming that Co-CEOs share a vision for the company and agree on the company’s direction. Given Ms. Olson’s pedigree coming up the company’s ranks under Mr. Relich’s watch, I suspect she’s well-prepped for her CEO role, and this was all part of the process.

  5. Gary Sankary Avatar
    Gary Sankary

    This sounds to this outsider like a solid transition plan. Assuming that Co-CEOs share a vision for the company and agree on the company’s direction. Given Ms. Olson’s pedigree coming up the company’s ranks under Mr. Relich’s watch, I suspect she’s well-prepped for her CEO role, and this was all part of the process.

  6. Lee Peterson Avatar
    Lee Peterson

    I never got the Co-CEO thing, with Pac Sun or anyone else for that matter. So, where does the buck stop? Oh, it’s complicated. Anyway, good luck to Brie and all the other “Co’s” out there. Now we know where the buck stops.

  7. John Lietsch Avatar
    John Lietsch

    I expect that anyone that can handle a co-CEO framework can certainly handle being a single CEO. Ms. Olso has certainly proven capable and knowledgeable. My only concern is Mr. Bower’s expanded role. I don’t believe Operations and Information Technology should report to the CFO. However, PacSun has made a co-CEO role work, so I have a feeling they’ll make this work too.

  8. Ryan Grogman Avatar
    Ryan Grogman

    I expect a smooth transition to the more traditional single CEO approach. It worked for PacSun for awhile, and it can work for other brands who require a lot of dedicated focus in several different areas with leaders playing to their strengths. But ultimately, and now that they’re on more solid footing, an organization needs a sole decision maker to steer the ship in the right direction. Brie has demonstrated she has the skills and vision to maintain their growth and profitability, and her focus on Gen Z and the use of social media and technology will no doubt continue to drive revenue and customers.

  9. Jeff Sward Avatar
    Jeff Sward

    Hats off to Ms. Olson and PacSun. There was always the possibility for the co-CEO thing to end badly, but what has emerged is a healthy retailer who looks to be ahead of the curve on many fronts. So hats off to Mr. Relich also. Retailing is a lot more complicated than great product and marketing today, and that elevated the whole operations side of the equation. I always thought the whole co-CEO thing was potentially problematic, but PacSun made it work. The important thing is that the business seems to be hitting on all cylinders and there is now every reason to believe that it will continue to do so.

  10. David Spear Avatar
    David Spear

    The transition for PacSun should be seamless since Ms. Olson has been in the CEO role for a while now. I’m sure she learned a great deal from Mr. Relich’s strengths and certainly can still learn from him in his new role as Vice Chairman. She has the corner office now and I’d tell her to surround herself with accomplished executives.

  11. Gene Detroyer Avatar
    Gene Detroyer

    I don’t know of any cases where co-CEOs worked. This may be an exception.

    In retrospect, the purpose of this set-up was apparently to support Ms. Olson, an extraordinary merchant and fashion talent in the operation area, where she had little experience. I suspect the transition plan was laid out from the beginning of the co-CEO setup.

    I see success in the transition to a normal management structure. Successful CEOs are never experts in everything but have a working knowledge across the functions of the company.

  12. Rich Kizer Avatar
    Rich Kizer

    I love to watch companies with two CEO payers. It at times is like watching a dog and cat fight.
    And the losers are the customers and the workers.

  13. Paula Rosenblum Avatar
    Paula Rosenblum

    The short answer is, one head at the top is always better than two. This is probably better for the company.

  14. Cathy Hotka Avatar
    Cathy Hotka

    PacSun has been blessed with great leadership, and I’ll trust Mike Relich’s move to vice chairman of the board. The brand continues to be in good hands.

  15. Mark Self Avatar
    Mark Self

    Yes–assuming they picked the right leader!

  16. Ryan Mathews Avatar
    Ryan Mathews

    If the strategy was so successful, why change the formula? Sorry, somebody had to ask. That asked, it seems that the transition should be a smooth one. It is, in fact, only a semi-transition since a new CEO isn’t being named just expanding her territory.

  17. Ian Percy Avatar
    Ian Percy

    Two co-CEOs is usually a problematic strategy. Two co-leaders is another story. Way back in 2008, David Thomson wrote a brilliant book called “Blueprint to a Billion” in which he analyzed the similarities of all IPOs at the time that hit the billion dollar mark. There were seven common “essentials” to doing so. Number six was the idea of co-leadership – one focused on the ‘inside’ and one on the ‘outside’. The examples are endless: Yahoo!, Microsoft, Tractor Supply, eBay, Seibel Systems, Starbucks, etc. The key is the inside/outside differentiation, not the assigned title. The direction is based organically on the personality, preference, propensity and passion of each leader. Trying to be what one is not is usually fatal.
    Still a good strategy today. Check for a current version of Thomson’s research.

  18. Michael Zakkour Avatar
    Michael Zakkour

    Brie Olsen is a rock star. She is visionary who is embracing the new retail, making immersive and virtual commerce work and 100% gets who her customer is. A great move by a great company.

  19. Mohamed Amer, PhD Avatar
    Mohamed Amer, PhD

    This should be a smooth transition at PacSun. Ms. Olsen’s strengths in design, branding, and merchandising are an excellent fit for the company’s growth strategy. By adding the duties of the COO to Mr. Bower’s existing CFO role, he will give proper attention to reliable operations. But make no mistake; this CEO move says PacSun’s focus is on growth.

  20. Ashish Chaturvedi Avatar
    Ashish Chaturvedi

    Having worked with most leading retailers and their senior management, I have always been clear. There cannot be more than a single source of power and direction. Yes, you can define hierarchies that make this decision-making process more inclusive and democratic. If a CEO requires more brainstorming power, expertise or advice, close-knit advisory groups can always be formed. However, Co-CEOs would vary in multiple ways despite how much in sync they are. Thus, this looks like a step in the right direction by PacSun.

20 Comments
oldest
newest
Bob Amster
Bob Amster
2 months ago

Ms. Olson hs the opportunity to surround herself with executives capable of filling whatever voids Mr. Relich may leave behind. This is done everyday in retail and other industries, therefore, there is little reason it would not work for PacSun.

Peter Charness
Peter Charness
2 months ago

Co- Ceo’s is a tough act to pull off, but when it works, it works really well, typically blending a merchant with an operationally focused partner. That said Retail (or any organization frankly) works best with an empowered team, with a great team leader at the helm. So moving to a single CEO framework shouldn’t pose issues, if the team is gels working with the leader.

Ken Morris
Ken Morris
2 months ago

Brie Olson going solo makes sense. The co-CEO team was complementary, with Olson coming up via a design and marketing path and Relich through operations and tech. I believe their co-CEO strategy is a model for others. It allowed for a smooth transition to power and profitability instead of a state of home office turmoil and turnover. PacSun has done a lot of things well, and they are poised to continue their growth via technology, partnerships, and innovative branding. 

Gary Sankary
Gary Sankary
2 months ago

This sounds to this outsider like a solid transition plan. Assuming that Co-CEOs share a vision for the company and agree on the company’s direction. Given Ms. Olson’s pedigree coming up the company’s ranks under Mr. Relich’s watch, I suspect she’s well-prepped for her CEO role, and this was all part of the process.

Gary Sankary
Gary Sankary
2 months ago

This sounds to this outsider like a solid transition plan. Assuming that Co-CEOs share a vision for the company and agree on the company’s direction. Given Ms. Olson’s pedigree coming up the company’s ranks under Mr. Relich’s watch, I suspect she’s well-prepped for her CEO role, and this was all part of the process.

Lee Peterson
Lee Peterson
2 months ago

I never got the Co-CEO thing, with Pac Sun or anyone else for that matter. So, where does the buck stop? Oh, it’s complicated. Anyway, good luck to Brie and all the other “Co’s” out there. Now we know where the buck stops.

John Lietsch
John Lietsch
2 months ago

I expect that anyone that can handle a co-CEO framework can certainly handle being a single CEO. Ms. Olso has certainly proven capable and knowledgeable. My only concern is Mr. Bower’s expanded role. I don’t believe Operations and Information Technology should report to the CFO. However, PacSun has made a co-CEO role work, so I have a feeling they’ll make this work too.

Ryan Grogman
Ryan Grogman
2 months ago

I expect a smooth transition to the more traditional single CEO approach. It worked for PacSun for awhile, and it can work for other brands who require a lot of dedicated focus in several different areas with leaders playing to their strengths. But ultimately, and now that they’re on more solid footing, an organization needs a sole decision maker to steer the ship in the right direction. Brie has demonstrated she has the skills and vision to maintain their growth and profitability, and her focus on Gen Z and the use of social media and technology will no doubt continue to drive revenue and customers.

Jeff Sward
Jeff Sward
2 months ago

Hats off to Ms. Olson and PacSun. There was always the possibility for the co-CEO thing to end badly, but what has emerged is a healthy retailer who looks to be ahead of the curve on many fronts. So hats off to Mr. Relich also. Retailing is a lot more complicated than great product and marketing today, and that elevated the whole operations side of the equation. I always thought the whole co-CEO thing was potentially problematic, but PacSun made it work. The important thing is that the business seems to be hitting on all cylinders and there is now every reason to believe that it will continue to do so.

David Spear
David Spear
2 months ago

The transition for PacSun should be seamless since Ms. Olson has been in the CEO role for a while now. I’m sure she learned a great deal from Mr. Relich’s strengths and certainly can still learn from him in his new role as Vice Chairman. She has the corner office now and I’d tell her to surround herself with accomplished executives.

Gene Detroyer
Gene Detroyer
2 months ago

I don’t know of any cases where co-CEOs worked. This may be an exception.

In retrospect, the purpose of this set-up was apparently to support Ms. Olson, an extraordinary merchant and fashion talent in the operation area, where she had little experience. I suspect the transition plan was laid out from the beginning of the co-CEO setup.

I see success in the transition to a normal management structure. Successful CEOs are never experts in everything but have a working knowledge across the functions of the company.

Rich Kizer
Rich Kizer
2 months ago

I love to watch companies with two CEO payers. It at times is like watching a dog and cat fight.
And the losers are the customers and the workers.

Paula Rosenblum
Paula Rosenblum
2 months ago

The short answer is, one head at the top is always better than two. This is probably better for the company.

Cathy Hotka
Cathy Hotka
2 months ago

PacSun has been blessed with great leadership, and I’ll trust Mike Relich’s move to vice chairman of the board. The brand continues to be in good hands.

Mark Self
Mark Self
2 months ago

Yes–assuming they picked the right leader!

Ryan Mathews
Ryan Mathews
2 months ago

If the strategy was so successful, why change the formula? Sorry, somebody had to ask. That asked, it seems that the transition should be a smooth one. It is, in fact, only a semi-transition since a new CEO isn’t being named just expanding her territory.

Ian Percy
Ian Percy
2 months ago

Two co-CEOs is usually a problematic strategy. Two co-leaders is another story. Way back in 2008, David Thomson wrote a brilliant book called “Blueprint to a Billion” in which he analyzed the similarities of all IPOs at the time that hit the billion dollar mark. There were seven common “essentials” to doing so. Number six was the idea of co-leadership – one focused on the ‘inside’ and one on the ‘outside’. The examples are endless: Yahoo!, Microsoft, Tractor Supply, eBay, Seibel Systems, Starbucks, etc. The key is the inside/outside differentiation, not the assigned title. The direction is based organically on the personality, preference, propensity and passion of each leader. Trying to be what one is not is usually fatal.
Still a good strategy today. Check for a current version of Thomson’s research.

Michael Zakkour
Michael Zakkour
2 months ago

Brie Olsen is a rock star. She is visionary who is embracing the new retail, making immersive and virtual commerce work and 100% gets who her customer is. A great move by a great company.

Mohamed Amer, PhD
Mohamed Amer, PhD
2 months ago

This should be a smooth transition at PacSun. Ms. Olsen’s strengths in design, branding, and merchandising are an excellent fit for the company’s growth strategy. By adding the duties of the COO to Mr. Bower’s existing CFO role, he will give proper attention to reliable operations. But make no mistake; this CEO move says PacSun’s focus is on growth.

Ashish Chaturvedi
Ashish Chaturvedi
2 months ago

Having worked with most leading retailers and their senior management, I have always been clear. There cannot be more than a single source of power and direction. Yes, you can define hierarchies that make this decision-making process more inclusive and democratic. If a CEO requires more brainstorming power, expertise or advice, close-knit advisory groups can always be formed. However, Co-CEOs would vary in multiple ways despite how much in sync they are. Thus, this looks like a step in the right direction by PacSun.