Seasoned executive brings strong track record of value creation
and more than two decades of consumer product merchandising and
marketing leadership experience
HanesBrands (NYSE:HBI), a leading global basic apparel marketer
under leading consumer brands, today announced that its Board of
Directors has appointed Stephen B. Bratspies as chief executive
officer and board member, effective Aug. 3, 2020. Bratspies will
succeed Gerald W. Evans Jr., who previously announced his plans to
retire after a 37-year career at HanesBrands.
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Stephen B. Bratspies has been appointed
chief executive officer of HanesBrands effective Aug, 3, 2020
(Photo: Business Wire)
Bratspies, 52, brings more than 25 years of retail, digital and
consumer product leadership experience to Hanes. Most recently, he
served as chief merchandising officer at Walmart Inc. where he
managed $330 billion in sales, drove a major merchandising
transformation initiative, and accelerated comp-store sales and
market share gains.
His prior leadership positions at Walmart included executive
vice president of general merchandise, executive vice president of
food, and senior vice president of marketing. He is recognized for
his strong and consistent results, passion for people, and winning
in the marketplace. Earlier in his career, Bratspies served as
chief marketing officer for Specialty Brands, held various
management positions at PepsiCo, Inc.’s Frito-Lay North America
division, and was a management consultant with A.T. Kearney.
“After a comprehensive search, we are excited to appoint Steve
as the next CEO of Hanes,” said Ronald L. Nelson, the company’s
chairman of the board. “Steve is an experienced global leader, has
a strong vision for the future of consumer products businesses, and
has an extensive track record of success in senior management roles
across a number of critical business disciplines. He has tackled
complex business challenges and consistently delivered superior
results across a multitude of consumer product categories.
“We are confident that Steve is the ideal CEO to lead Hanes
forward as we focus on our strong portfolio of consumer brands
across the globe, rapid online growth, and strong cash flow model.
We look forward to an exciting new chapter for Hanes under Steve’s
leadership and oversight.”
Bratspies, who will relocate to Winston-Salem, noted, “I am
thrilled to be joining the HanesBrands team, the clear global
leader in everyday apparel basics with great iconic brands like
Hanes and Champion. It is an honor to assume the role of CEO and
join this highly respected global team of 63,000 strong. I have
great respect for all that Hanes has accomplished throughout its
rich history, including developing power brands, driving
category-leading product innovation, and building deep consumer
relationships. In addition, Hanes has built a world-class
company-owned supply chain and established a strong reputation for
workplace, environmental and social responsibility. Together, we
will continue to accomplish great things and chart a future of
growth and value creation for all of our constituencies.”
Gerald Evans, 61, will oversee the leadership transition until
August and remain as an advisor to the company through 2021.
“We extend our gratitude to Gerald for his many contributions to
the company’s brand building, global supply chain diversification,
and international commercial expansion over the last 37 years, and
most recently for his excellent leadership during the COVID-19
pandemic,” Nelson said. “Gerald has always put the best interests
of Hanes and its employees first, and we appreciate his support of
Steve and the management team through the transition period. We
also wish him well in his retirement.”
HanesBrands
HanesBrands, based in Winston-Salem, N.C., is a socially
responsible leading marketer of everyday basic innerwear and
activewear apparel in the Americas, Europe, Australia and
Asia-Pacific. The company sells its products under some of the
world’s strongest apparel brands, including Hanes, Champion, Bonds,
DIM, Maidenform, Bali, Playtex, Lovable, Bras N Things, Nur Die/Nur
Der, Alternative, L’eggs, JMS/Just My Size, Wonderbra, Berlei, and
Gear for Sports. The company sells T-shirts, bras, panties,
shapewear, underwear, socks, hosiery, and activewear produced in
the company’s low-cost global supply chain. A Fortune 500 company
and member of the S&P 500 stock index (NYSE: HBI), Hanes has
approximately 63,000 employees in more than 40 countries. For more
information, visit the company’s corporate website at
www.Hanes.com/corporate and newsroom at
https://newsroom.hanesbrands.com/. Connect with the company via
social media: Twitter (@hanesbrands), Facebook
(www.facebook.com/hanesbrandsinc), Instagram
(@hanesbrands_careers), and LinkedIn (@Hanesbrandsinc).
Cautionary Statement Concerning Forward-Looking
Statements
This press release contains certain forward-looking statements,
as defined under U.S. federal securities laws, with respect to our
long-term goals and trends associated with our business. These
forward-looking statements are based on our current intent,
beliefs, plans and expectations. Readers are cautioned not to place
any undue reliance on any forward-looking statements.
Forward-looking statements necessarily involve risks and
uncertainties, many of which are outside of our control, that could
cause actual results to differ materially from such statements and
from our historical results and experience. These risks and
uncertainties include such things as: the potential effects of the
COVID-19 outbreak, including on consumer spending, global supply
chains and the financial markets; the highly competitive and
evolving nature of the industry in which we compete; the rapidly
changing retail environment; any inadequacy, interruption,
integration failure or security failure with respect to our
information technology; the impact of significant fluctuations and
volatility in various input costs, such as cotton and oil-related
materials, utilities, freight and wages; our ability to attract and
retain a senior management team with the core competencies needed
to support growth in global markets, including as a result the
potential impact of our ongoing leadership transition; our ability
to properly manage strategic projects in order to achieve the
desired results; significant fluctuations in foreign exchange
rates; our reliance on a relatively small number of customers for a
significant portion of our sales; legal, regulatory, political and
economic risks related to our international operations; our ability
to effectively manage our complex multinational tax structure; any
local, regional or global disaster or other business continuity
problem, such as an earthquake, tsunami, terrorist attack, pandemic
or other natural or man-made disaster the existence of a material
weakness in our internal control over financial reporting; and
other risks identified from time to time in our most recent
Securities and Exchange Commission reports, including our annual
report on Form 10-K and quarterly reports on Form 10-Q. Since it is
not possible to predict or identify all of the risks, uncertainties
and other factors that may affect future results, the above list
should not be considered a complete list. Any forward-looking
statement speaks only as of the date on which such statement is
made, and HanesBrands undertakes no obligation to update or revise
any forward-looking statement, whether as a result of new
information, future events or otherwise, other than as required by
law.
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version on businesswire.com: https://www.businesswire.com/news/home/20200609005381/en/
News Media, contact: Matt Hall, (336) 519-3386
Analysts and Investors, contact: T.C. Robillard, (336)
519-2115
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