VF Corporation (NYSE: VFC), a global leader in branded lifestyle
apparel, footwear and accessories, today announced Caroline Brown
has been named Global Brand President of The North Face®, and will
be starting the week of June 10, 2024. Brown succeeds Nicole Otto
and, as a result of her appointment, Brown has resigned as a member
of the VF Board of Directors.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20240603675426/en/
Caroline Brown. Courtesy of VF Corp.
VF also announced that Mindy Grossman and Kirk Tanner have been
appointed independent directors on the VF Board, effective May 30,
2024. Grossman and Tanner will stand for re-election at the 2024
Annual Meeting of VF Shareholders. Benno Dorer has decided not to
stand for re-election at the 2024 Annual Meeting.
“Caroline’s expertise in building and transforming global
brands, as well as her extensive experience in the apparel and
fashion industry, fit perfectly with the needs of The North Face®
brand at this time,” added Bracken Darrell, VF’s President and
Chief Executive Officer. “With Caroline’s intense focus on brand
building, product design, consumer insight, and innovation, I am
confident The North Face® will expand on its enormous power as a
leading global outdoor brand and be a driving force behind VF’s
growth and value creation. On behalf of the Board and leadership
team, I thank Nicole for her dedication and service to VF and the
brand, and wish her the best in her future endeavors.”
“We are also excited to welcome Mindy and Kirk to the Board,”
said Richard Carucci, Chair of the VF Board. “Mindy and Kirk are
proven leaders with extensive track records leading complex
companies and supercharging the growth of global consumer brands
through innovation, marketing and digital strategies. We look
forward to benefiting from their insights as VF continues to
improve execution and enhance innovation as part of its Reinvent
strategy. These appointments represent further steps in VF’s
refreshment process, and reflect our continued constructive
collaboration with VF shareholder Engaged Capital. With these
appointments, VF has added five new directors to its Board within
the past two years, including directors with valuable apparel and
footwear experience.”
Carucci continued, “We are grateful to Benno for his
contributions to VF over many years of service, and particularly
appreciate his work and impact as Interim CEO prior to Bracken
Darrell’s appointment. We thank Benno and extend to him our best
wishes for the future.”
Glenn W. Welling, Founder and CIO of Engaged Capital, said, “We
are pleased to have worked with the VF Board on Mindy and Kirk’s
appointments. VF shareholders will benefit from Mindy’s apparel and
digital expertise and Kirk’s experience operating a multi-branded
portfolio at the highest levels. We also are highly supportive of
Caroline in her new management role. All three additions bring
invaluable skills to the Company and will play important roles in
helping accelerate VF’s strategic and business transformation.”
Caroline Brown
Caroline Brown served as an independent director on the VF Board
from February 2024 to May 2024. She has extensive experience as a
senior leader and board director in the fashion and apparel sector
having led global companies and teams operating across the US,
Asia, Latin America, Middle East, EU & UK regions. Most
recently she was a Managing Director at Closed Loop Partners, a New
York-based investment firm and innovation center focused on the
circular economy, where she led the firm’s fashion practice. Brown
previously served as Chief Executive Officer of Donna Karan
International (DKI) and DKNY. During that time, she led a
transformation of the company, elevating product design,
modernizing brand identity, overseeing organizational structure
realignments and supply chain consolidations. She led the company
through the sale from LVMH to G-III Apparel Group. Prior to DKI,
Brown was President of Carolina Herrera, a luxury fashion house
owned by PUIG, where she led the evolution in product development,
brand architecture and international expansion. Previously, she
served as the US Chief Executive Officer of Akris, a Swiss-based
luxury fashion brand. Brown began her career at Giorgio Armani,
where she spent over a decade in marketing and communications
leadership roles.
Brown has served on numerous boards, including EILEEN FISHER
(US), Browzwear (Israel), Dimpora (Switzerland), By Rotation (UK),
For Days (US), and others. She is a member of the MIT Sloan
Sustainability Initiative Advisory Board and an Advisor to the
Martin Trust Center for Entrepreneurship at the MIT Sloan School of
Management. Caroline is passionate about mentoring new talent and
has served as an advisor to the CFDA / VOGUE Fashion Fund and to
the H&M Global Change Awards, supporting the development of
future leaders & innovation for the industry.
Mindy Grossman
Mindy Grossman is a Partner at Consello, an Advisory and
Investing Platform that advises corporate leaders in the areas of
Growth, Marketing, Technology and M&A. The company invests in
high potential mid-market companies through its investment arm,
Consello Capital. Prior to Consello, Grossman served as President,
CEO, and as a member of the Board of Directors of WW International,
where she led the organization’s rebranding from Weight Watchers to
WW and its evolution to a personalized digital health, wellness and
science-based weight loss platform with a digital-first
subscription model.
Prior to WW, Grossman served as CEO and as a member of the Board
at HSNi (and its predecessor IAC Retail) for 11 years. She was
instrumental in the successful turnaround and subsequent 2008
spinoff of IAC Retail, which became a stand-alone public company,
HSNi. IAC Retail was comprised of HSN, the TV and digital shopping
network and Cornerstone Brands, a portfolio of catalogues, websites
and retail locations including Frontgate and Garnet Hill. She
ultimately grew HSNi into a $4 billion leader in boundary-less
retail, offering customers a seamless shopping experience across
multiple channels - television, catalogue, online and mobile.
Before HSNi, Grossman served as a Global Vice President at NIKE,
Inc. for five years, where she oversaw NIKE’s $4 billion global
apparel business, leading the development and growth of the global
women’s business. Earlier in her career, Grossman served in a
number of leadership roles at Ralph Lauren, including as President
of Chaps Ralph Lauren. She also held senior positions at Warnaco,
Inc., Tommy Hilfiger and Oxford Industries.
Grossman has served on a number of public and private boards and
charities. Currently, she is on the Board of Directors of
Hungryroot, Fanatics, Inc., Herself Health and the American Heart
Association. She previously served on the Boards of Bloomin’
Brands, Vault Health and UNICEF, as Chair of the National Retail
Federation, and as a member of the Digital Economy Board of
Advisors for the U.S. Chamber of Commerce.
Kirk Tanner
Kirk Tanner has served as President and CEO of Wendy’s Co. and
as a member of its Board since February 2024. Prior to that, he
served in leadership roles of increasing responsibility at PepsiCo,
Inc. for over 30 years, including as CEO, PepsiCo Beverages North
America, the $26 billion business unit, which accounts for
approximately 30% of PepsiCo's overall business; President and
Chief Operating Officer, North America Beverages; Chief Operating
Officer, North America Beverages; and President, Global
Foodservice. During his tenure at PepsiCo, Tanner was instrumental
in enhancing operational performance, accelerating revenue growth,
incubating and launching new products, entering new markets, and
forming strategic partnerships and transactions with major sports
leagues and restaurant chains that propelled PepsiCo’s growth.
Tanner is actively involved with various civic organizations and
serves as a member of the advisory board of the University of Utah
– David Eccles School of Business.
About VF Corporation
Founded in 1899, VF Corporation is one of the world’s largest
apparel, footwear and accessories companies connecting people to
the lifestyles, activities and experiences they cherish most
through a family of iconic outdoor, active and workwear brands
including Vans®, The North Face®, Timberland® and Dickies®. Our
purpose is to power movements of sustainable and active lifestyles
for the betterment of people and our planet. We connect this
purpose with a relentless drive to succeed to create value for all
stakeholders and use our company as a force for good. For more
information, please visit vfc.com.
Forward-Looking Statements
Certain statements included in this release are "forward-looking
statements" within the meaning of the federal securities laws.
Forward-looking statements are made based on our expectations and
beliefs concerning future events impacting VF and therefore involve
several risks and uncertainties. You can identify these statements
by the fact that they use words such as “will,” “anticipate,”
"believe," “estimate,” “expect,” “should,” and “may” and other
words and terms of similar meaning or use of future dates, however,
the absence of these words or similar expressions does not mean
that a statement is not forward-looking. All statements regarding
VF’s plans, objectives, projections and expectations relating to
VF’s operations or financial performance, and assumptions related
thereto are forward-looking statements. We caution that
forward-looking statements are not guarantees and that actual
results could differ materially from those expressed or implied in
the forward-looking statements. VF undertakes no obligation to
publicly update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise, except
as required by law. Potential risks and uncertainties that could
cause the actual results of operations or financial condition of VF
to differ materially from those expressed or implied by
forward-looking statements include, but are not limited to: the
level of consumer demand for apparel and footwear; disruption to
VF’s distribution system; changes in global economic conditions and
the financial strength of VF’s consumers and customers, including
as a result of current inflationary pressures; fluctuations in the
price, availability and quality of raw materials and finished
products; disruption and volatility in the global capital and
credit markets; VF’s response to changing fashion trends, evolving
consumer preferences and changing patterns of consumer behavior;
VF's ability to maintain the image, health and equity of its
brands, including through investment in brand building and product
innovation; intense competition from online retailers and other
direct-to-consumer business risks; increasing pressure on margins;
retail industry changes and challenges; VF's ability to execute our
Reinvent transformation program and other business priorities,
including measures to streamline and right-size our cost base and
strengthen the balance sheet while reducing leverage; VF’s ability
to successfully establish a global commercial organization, and
identify and capture efficiencies in our business model; any
inability of VF or third parties on which we rely, to maintain the
strength and security of information technology systems; the fact
that VF’s facilities and systems, and those of third parties on
which we rely, are frequent targets of cyber-attacks, and may in
the future be vulnerable to such attacks, and any inability or
failure by us or such third parties to anticipate or detect data or
information security breaches or other cyber-attacks, including the
cyber incident that was reported by VF in December 2023, could
result in data or financial loss, reputational harm, business
disruption, damage to our relationships with customers, consumers,
employees and third parties on which we rely, litigation,
regulatory investigations, enforcement actions or other negative
impacts; any inability by VF or third parties on which we rely to
properly collect, use, manage and secure business, consumer and
employee data and comply with privacy and security regulations;
VF’s ability to adopt new technologies, including artificial
intelligence, in a competitive and responsible manner; foreign
currency fluctuations; stability of VF's vendors' manufacturing
facilities and operations and VF's ability to establish and
maintain effective supply chain capabilities; continued use by VF’s
suppliers of ethical business practices; VF’s ability to accurately
forecast demand for products; actions of activist and other
shareholders; VF's ability to recruit, develop or retain key
executive or employee talent or successfully transition executives;
continuity of members of VF’s management; changes in the
availability and cost of labor; VF’s ability to protect trademarks
and other intellectual property rights; possible goodwill and other
asset impairment such as the impairment charges related to the
Timberland®, Dickies® and Icebreaker® reporting unit goodwill;
maintenance by VF’s licensees and distributors of the value of VF’s
brands; VF’s ability to execute acquisitions and divestitures,
integrate acquisitions and manage its brand portfolio; business
resiliency in response to natural or man-made economic, public
health, cyber, political or environmental disruptions; changes in
tax laws and additional tax liabilities; legal, regulatory,
political, economic, and geopolitical risks, including those
related to the current conflicts in Ukraine and the Middle East and
tensions between the U.S. and China; changes to laws and
regulations; adverse or unexpected weather conditions, including
any potential effects from climate change; VF's indebtedness and
its ability to obtain financing on favorable terms, if needed,
could prevent VF from fulfilling its financial obligations; VF's
ability to pay and declare dividends or repurchase its stock in the
future; climate change and increased focus on environmental, social
and governance issues; VF's ability to execute on its
sustainability strategy and achieve its sustainability-related
goals and targets; risks arising from the widespread outbreak of an
illness or any other communicable disease, or any other public
health crisis, including the coronavirus (COVID-19) global
pandemic; and tax risks associated with the spin-off of our
Jeanswear business completed in 2019. More information on potential
factors that could affect VF’s financial results is included from
time to time in VF’s public reports filed with the SEC, including
VF’s Annual Report on Form 10-K, and Quarterly Reports on Form
10-Q, and Forms 8-K filed or furnished with the SEC.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240603675426/en/
Media Contact Colin Wheeler Vice President, Corporate
Communications colin_wheeler@vfc.com
Investor Contact Allegra Perry Vice President, Investor
Relations ir@vfc.com
Grafico Azioni VF (NYSE:VFC)
Storico
Da Gen 2025 a Feb 2025
Grafico Azioni VF (NYSE:VFC)
Storico
Da Feb 2024 a Feb 2025
