Any suggestion that the transaction could lead to anticompetitive effects is completely absurd. This merger will benefit gamers and the U.S. gaming industry, especially as we face increasingly stiff competition from abroad.
On behalf of our Board, executive management team and Abercrombie & Fitch Co. associates, I'd like to thank Terry for all his contributions to the company's transformation over the past several years.
The company is in a dramatically different place than we were when he joined the Board in 2014. Terry's deep retail experience and guiding leadership helped us make significant progress in reaching our aspiration to become one of the leading global omnichannel apparel retailers.
It has been an honor to serve on the Board and as Chairperson of Abercrombie & Fitch Co. I'm very proud of all that the company has accomplished, working to deliver against its strategic growth principles while at the same time developing a strong corporate culture.
It has been a privilege to serve on the Board with Terry since I joined in 2019. Under his leadership, the company has made incredible progress. I'm excited to partner with Fran and the team to continue moving the company forward.
The Board has concluded that as Disney embarks on an increasingly complex period of industry transformation, Bob Iger is uniquely situated to lead the Company through this pivotal period.
