Mickey Drexler is severing his last ties with J.Crew at one of the most difficult times in its history

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Mickey Drexler.

• J.Crew's longtime former CEO and current chairman, Mickey Drexler, is stepping down from the company after 15 years.
• The news comes at a tricky time for the brand, which is currently without a CEO.
• Jim Brett, who replaced Drexler as CEO in June 2017, had been leading the charge in J.Crew's turnaround efforts after several years of flagging sales. He stepped down in November 2018.

Mickey Drexler is leaving J.Crew for good after 15 years at the company.

"It's been a privilege to have had more than 15 years with J.Crew Group both as CEO and chairman of the board. J.Crew and Madewell have been long admired as iconic American brands, and I am thankful to have been a part of their evolution throughout the years," Drexler said in a statement to the press on Friday. "I look forward to working with the Office of the CEO and the board as a strategic advisor to help support J.Crew's long term success."

The news comes at a tricky time for the brand, which currently finds itself without a CEO.

Jim Brett, who replaced Drexler as CEO in June 2017 and had been leading the charge in the retailer's turnaround efforts, stepped down from the company on November 17, after 17 months on the job. In a statement to the press at the time, Brett hinted that clashes with the board may have been the reason behind his departure.