Pacsun Announces Leadership Transition

Brie Olson Appointed Co-CEO Alongside Mike Relich, Effective March 9, 2023

Alfred Chang to Become CEO of Fear of God; Will Remain on Pacsun Board of Directors

LOS ANGELES, Jan. 26, 2023 /PRNewswire/ -- Pacsun today announced a leadership transition in which Brie Olson, Pacsun President and Board member, will be appointed Co-Chief Executive Officer alongside Co-CEO Mike Relich, effective March 9, 2023. Alfred Chang will step down after 17 years with the company to join Fear of God, a key Pacsun brand partner, as its Chief Executive Officer. Mr. Chang will stay on as Pacsun's Co-CEO until March 8, 2023 to facilitate the transition and will remain a member of the Pacsun Board of Directors after joining Fear of God.

Ms. Olson has over two decades of experience in the retail industry, including 17 years at Pacsun, and has served as President and as a member of the Pacsun Board of Directors since May 2021. Ms. Olson has overseen the design and execution of multiple successful partnerships at Pacsun, including with The Metropolitan Museum of Art, Formula 1, Emma Chamberlain and Storm Reid, introduced Pacsun's first gender neutral collection, Colour Theory, and spearheaded Pacsun's entry into the Kids' category with Pacsun Kids. Ms. Olson also leads the company's AI and metaverse initiatives, including activations on Roblox and the brand's partnership with the first known virtual influencer, Miquela. In 2022, Ms. Olson was named one of AdAge's Leading Women, one of Glossy's Top Marketers, and one of Brand Innovators' Top 100 Women in Brand Marketing.

Ms. Olson stated, "Pacsun aims to position our brand right alongside our customers – the cultural pioneers of the future. This means we live at the intersection of all things culture: art, fashion, music and sports. Culture is dynamic, and so Pacsun must be as well – and that is what I love most about being part of this organization. Every day I get to work with the most talented team in the industry as we innovate, break barriers and grow. I am honored to take on this new role and excited to continue working with Mike and the rest of the fantastic Pacsun team as we make big, bold swings."

Neale Attenborough, a Managing Director at Golden Gate Capital, said, "As a deeply experienced and highly respected leader, Brie is exceptionally qualified to step into the Co-CEO role. Brie has been instrumental in ensuring Pacsun's success with its core audience by being a key figure in innovating and cultivating Pacsun's brand identity. Brie's strong relationships with designers and other Pacsun partners, combined with her keen sense of style, will continue to be strong assets for the company as she steps into her new leadership role alongside Mike."

Mike Montgomery, a Managing Director at Golden Gate Capital, said, "Fear of God has been a fantastic partner to Pacsun and we are very happy for Alfred. His new role at Fear of God is a wonderful opportunity and I look forward to continuing to work closely with Jerry Lorenzo, Alfred and the rest of the Fear of God team as we deepen our partnership in the months and years to come."

Mr. Chang said, "It has been a privilege to help build Pacsun into the brand and company it is today. Looking ahead, I am thrilled to join the Fear of God team, where I will have the opportunity to deepen the strong partnership between Pacsun and Fear of God that we've forged over the past seven years. I also want to congratulate Brie on her well-deserved promotion. I am excited to watch all that she and Mike will accomplish together."

Mr. Relich commented, "Brie will be an outstanding partner and Co-CEO as we embark on the next chapter at Pacsun. I also want to thank Alfred for his partnership and look forward to working with him on the Board and as a partner at Fear of God."

Brie Olson Biography

Ms. Olson joined Pacsun in 2006 as Senior Design Director (Women's) and has held roles of increasing responsibility since that time. Prior to being named President in 2021, she held the titles of Chief Brand Officer, Chief Merchandising Officer and Senior Vice President of Merchandising and Design. Ms. Olson has over 20 years of experience in the retail industry and has played an instrumental role in building and strengthening Pacsun's brand through innovative strategies with a Gen Z focus. A graduate of Harvard Business School's Advanced Management Program, Ms. Olson also serves on the advisory board of the Women in Retail Leadership Circle and as a member of RETHINK Retail's Advisory Committee.

ABOUT PACSUN

Pacsun is a leading specialty retailer offering a cross-section of emerging brands and trending fashion through the lens of youth culture. Throughout the contemporary, streetwear and active lifestyle markets, Pacsun partners with the best brands to offer curated collections, rare and exclusive products, and creative collaborations on every level. Founded in 1980, Newport, CA. Curated in Los Angeles.

ABOUT GOLDEN GATE CAPITAL

Golden Gate Capital is a San Francisco-based private equity investment firm with over $19 billion in cumulative committed capital. The principals of Golden Gate Capital have a long history of investing across a wide range of industries and transaction types, including going-privates, corporate divestitures, and recapitalizations, as well as debt and public equity investments. For more information, visit www.goldengatecap.com.

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SOURCE Pacsun