Jan 28 (Reuters) - Teen apparel retailer Abercrombie & Fitch Co said it separated the roles of chairman and chief executive officer and abandoned a plan aimed at blocking hostile buyout bids.
Abercrombie shares rose 2 percent in premarket trading.
The move comes more than a month after shareholder Engaged Capital LLC urged the retailer to replace current Chief Executive Mike Jeffries or sell itself.
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The company said Jeffries, who has served as Chairman since 1996, will continue to serve as its chief executive, while Arthur Martinez has been appointed as non-executive chairman, the company said on Tuesday.
(Reporting by Siddharth Cavale in Bangalore; Editing by Saumyadeb Chakrabarty)
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