North Face Owner VF Corp. CEO to Leave Helm -- Update
October 05 2016 - 11:34AM
Dow Jones News
By Joshua Jamerson
Appeal conglomerate VF Corp. said Chief Executive Eric Wiseman
would depart from the role at year's end, and it named a company
veteran to run the owner of brands such as North Face and
Timberland.
Chief Operating Officer Steven Rendle will succeed Mr. Wiseman,
effective Jan. 1.
Mr. Wiseman, 60 years old, said the board has been working to
tap "the right person to succeed me when the time comes. That time
is now." He was CEO for nine years, and he will remain executive
chairman after he leaves the helm of the company.
Mr. Rendle, 57, has spent 16 years with VF. He previously
oversaw North Face, JanSport, Eagle Creek and Lucy brands.
VF struggled with tepid revenue growth recently, and the company
in July cut its earnings outlook for the year. Mr. Wiseman cited at
the time a "challenging environment with mixed economic and
currency conditions around the world." The company has been
pressured by falling traffic at U.S. department stores and
outlets.
Write to Joshua Jamerson at joshua.jamerson@wsj.com
(END) Dow Jones Newswires
October 05, 2016 11:19 ET (15:19 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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