ShareThis Page
American Eagle admits it fired former CEO Hanson |
Local Stories

American Eagle admits it fired former CEO Hanson

Alex Nixon
| Thursday, January 30, 2014 1:06 p.m

Robert Hanson was fired as CEO of American Eagle Outfitters Inc. last week, the South Side-based teen-apparel retailer disclosed on Thursday in a filing with the Securities and Exchange Commission.

American Eagle declined to disclose the nature of Hanson’s departure or provide any details when it was announced on Jan. 22, other than to say it was effective immediately.

“Mr. Hanson will receive that compensation to which he is entitled under the employment agreement in the case of a termination by the company without cause,” the filing stated.

Hanson, who had been CEO for two years and had one year left on his contract, will receive $6.3 million in compensation for being fired, including two years of salary worth $2 million, an incentive bonus of $1.3 million and stock awards totaling $3 million, according to his contract.

Company officials declined to comment on the reason for Hanson’s firing.

American Eagle also said in the filing that compensation for Executive Chairman Jay Schottenstein, who was named interim CEO, “has not yet been determined” and may be disclosed later.

Schottenstein, who owns 5.2 percent of American Eagle and was CEO from 1992 to 2002, was paid $2 million as executive chairman during 2012, according to the company’s most recent proxy statement.

The company has said it is looking for a permanent replacement for Hanson.

Alex Nixon is a staff writer for Trib Total Media. He can be reached at 412-320-7928 or

Categories: Local stories
TribLIVE commenting policy

You are solely responsible for your comments and by using you agree to our Terms of Service.

We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.

While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.

We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers

We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.

We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.

We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.

We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.