U.S. Markets open in 29 mins

Oxford Industries CEO Lanier to retire at year end

Oxford Industries announced that J. Hicks Lanier has informed the company's board of directors that he plans to retire as chief executive officer effective as of December 31, 2012. Lanier will continue to serve as chairman of the board following his retirement as CEO. The company also announced that its board of directors has elected Thomas C. Chubb III, Oxford's president and a current member of the board, to serve as CEO and president effective January 1, 2013.