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Apple retail exec leaves for Abercrombie

The chief financial officer for Apple's retail unit is leaving to become CFO of clothier Abercrombie & Fitch.

Michael Kramer, who worked at Gateway and Limited before joining Apple, will start at Abercrombie on August 8. "His understanding of leveraging the power of strong brands makes him a great new leader for the company," Abercrombie CEO Mike Jeffries said in a statement.