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Apple exec departs for Abercrombie

Luxury apparel retailer Abercrombie & Fitch Co. has lured away an executive from Apple Computer, Inc. to become its next chief financial officer.

In a press release, the New Albany, Ohio-based Abercrombie said Michael W. Kramer, 41, will become CFO, effective August 8, 2005.

\"Mike has thrived in collaborative and creative environments throughout his career,\" said Mike Jeffries, chairman and chief executive officer of Abercrombie. \"His understanding of leveraging the power of strong brands makes him a great new leader for the company.\"

Kramer joins Abercrombie from Apple, where he served as CFO for the company\'s retail division —the most successful retail startup in recent times. He replaces Robert Singer, 53, who joined Abercrombie this year as its president and also held the CFO position following the departure of the company\'s chief operating officer Seth Johnson.

Kramer previously held retail positions at Gateway, Inc., Limited, Inc. and Pizza Hut, Inc. of Pepsico. He earned a B.A. in Business Administration and Accounting from Kansas State University and is a Certified Public Accountant.

There is so far no word on Kramer\'s replacement at Apple.