American Eagle CEO Robert Hanson is leaving the company, effective immediately.
For now, board chairman Jay Schottenstein will serve as interim CEO, the company said in a news release.
Hanson was considered to be a rising star in the retail industry. Before joining American Eagle in 2012, he worked for Levi's.
The company doesn't say why Hanson is leaving or what he'll do next.
It's been a tough year for American Eagle and other teen retail competitors like Abercrombie & Fitch and Aeropostale.
The companies have struggled with slowing sales amid competition from fast-fashion chains like Forever 21.
American Eagle recently announced that holiday sales plunged 7% this year.
The company's shares are down 4% in after-hours trading.