Mickey Drexler, chief executive officer of the J.Crew Group, will be exiting the company mid-July, WWD reports.

Drexler will remain Chairman but will be succeeded as CEO by James Brett, president of West Elm, who’s held leadership positions at Urban Outfitters and Anthropologie . “I am relaxed-ish,” Drexler, 72, said of the transition. “It’s a large day for me. I have been running companies for 37 years and the announcement today is a major change in my life… I am excited about where the team is and the strategic plans we have. There’s excitement about J. Crew and Madewell – brands that people love and admire.”

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Drexler has been with the company for 14 years. “I thought it was time to move on and lessen up on the day to day,” he tells WWD. Prior to the J.Crew Group, he was at Gap Inc. for 18 years and is credited with turning it into the retail giant it is (even launching Old Navy).

Notably, this follows last month’s news of J.Crew creative director Jenna Lyons’ departure after 26 years.

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