L.L.Bean Names CEO From Outside Company

L.L.Bean has gone outside its ranks for the first time to pick a chief executive, on Tuesday naming veteran retailer Stephen Smith to lead the 103-year-old company. And Smith, 45, who starts in early January, said he already feels the pressure. Until now, the Freeport, Maine, retailer has always filled the top job from within the company or founding family. Smith joins L.L.Bean from Yihaodian, an online grocer in China, where he was a chief merchandising and marketing officer.