The Role of Governance in Preparing for Leadership TransitionsMillions of customers know L.L.Bean for its iconic, timeless Bean Boot, but the company’s first and most famous product is just part of this Maine business success story. Now in its 104th year, L.L.Bean remains steadfast in its commitment to remaining family-owned, while focusing on making long-term strategic investments to fuel future growth and financial stability for its Stakeholders.
However, wanting to stay family-owned and ensuring that goal becomes a reality, required building a shared family vision around ownership and governance, particularly as the L.L.Bean family expands (it is now in its fifth generation), and leadership transitions occur on both the family and management sides of the business.
Hear first-hand from Shawn Gorman, Executive Chairman of the Board and great-grandson of L.L. Bean, about the important role governance played in the recent hiring and onboarding of their new President and CEO Steve Smith, and will continue to play as the family begins to ready the fifth generation for eventual leadership of this Maine-based global outdoor retailer.
Shawn GormanExecutive Chairman of the BoardL.L.Bean, Inc.
Shawn Gorman, great-grandson of company founder Leon Leonwood (“L.L”) Bean, was appointed Chairman of the Board in May of 2013. He succeeded his uncle, Leon Gorman, who served as President and Chairman of the Board for more than four decades. Shawn was named Executive Chairman in December of 2015.Shawn began his L.L.Bean career in 1991, as an Advertising Analyst in the company's Marketing department. He took on his first leadership role as Assistant Manager of Marketing Operations, and a year later was promoted to Manager of International Customer Operations, where he helped to shape how our international customers experienced the L.L.Bean brand. From International, Shawn moved to L.L.Bean's E-Commerce division as Manager of Marketing and Customer Management. In this role, Shawn introduced the company to online and email marketing as L.L.Bean began to transition from catalog to internet sales and marketing.In 2002, Shawn joined Partnership Marketing, where he had responsibility for leading L.L.Bean's co-branded marketing programs including the credit card division, now in its 20th year. Shawn was named Vice President of Card Services and Direct to Business (D2B) in 2008, overseeing the launch of D2B's first e-commerce site in the same year. Shawn’s final operational role was as Senior Vice President of Brand Communications, where he is credited with integrating L.L.Bean's brand strategies across its selling channels to ensure consistency and customer focus.Shawn grew up in Exeter, New Hampshire and is a graduate of the University of New Hampshire. He is very active in the community, including serving as Vice Chair of the United Way of Greater Portland Board of Directors, and also chairs the John T. Gorman Foundation, a charitable organization established by his late uncle, Tom Gorman, that funds Maine-based community programs and projects. Shawn is an outdoors enthusiast, and his love of the outdoors was instilled in him at a very early age. Like his great-grandfather, Shawn also believes that time spent in the outdoors adds both quality and quantity to one's life. Today, he shares this love of the outdoors with his own family.