VF Corporation Chairman Eric C. Wiseman Announces Retirement
July 24 2017 - 6:55AM
Business Wire
VF Corporation (NYSE:VFC) today announced that Eric C. Wiseman
will retire as Executive Chairman of the Board and as a Director of
VF Corporation effective October 28, 2017.
VF’s Board of Directors has elected President, Chief Executive
Officer and Director Steven E. Rendle, 58, to the role of Chairman
effective upon Wiseman’s retirement. Wiseman’s retirement completes
VF’s planned leadership succession, which began with the promotion
of Rendle to President and Chief Operating Officer in June 2015,
and to CEO in January of this year.
“Succession planning at the highest levels of VF’s senior
leadership team is a key component of the company’s long-term
success, a responsibility the Board takes very seriously,” said
Alan McCollough, Lead Independent Director of VF’s Board of
Directors. “The decision to select Steve as Chairman was made
following a thorough evaluation of the required skill and
leadership capabilities necessary to fuel the company’s continued
global growth.
“We express our sincere thanks to Eric for his thoughtful
leadership, his meaningful achievements and his absolute commitment
to doing what is right for our shareholders, customers, consumers
and the company’s 60,000 associates around the world. We welcome
Steve to this additional role, and we are confident that VF and its
portfolio of brands continues to be in the hands of a very capable
leader,” McCollough said.
Rendle added, “Eric is a proven leader and throughout his career
he has inspired others to excellence. His success has always been
guided by values that are core to who he is, including respect,
integrity, determination and grit. During his time as VF’s Chairman
and CEO, Eric helped to successfully guide the company through the
Great Recession and its aftermath, and he grew VF’s business
presence around the world. And, it’s especially noteworthy that
during Eric’s time as CEO the company’s share price more than
tripled. We are thankful for all of Eric’s many contributions to
VF’s growth and achievements.”
Wiseman, 61, began his career with VF in 1995 when he joined the
company as Executive Vice President of the JanSport® business. He
then held a progression of leadership roles, including Chairman of
VF's Sportswear and Outdoor coalitions and Executive Vice
President, Global Brands. He was named President and Chief
Operating Officer in 2006, and elected to VF's Board of Directors
that same year. Wiseman was named CEO in January 2008 and Chairman
of the Board in August 2008.
“Now is the right time to take this final step in our leadership
succession plan,” Wiseman said. “With credit to our Board of
Directors, the plan and its implementation have proven successful.
Steve’s transition to CEO has gone smoothly, and just as he was the
right person to serve as VF’s next CEO, Steve is the right person
to now serve as our Chairman of the Board. I’ve been blessed to be
with VF for more than two decades, and it’s been an honor and my
privilege to serve as Chairman for nearly 10 years. It’s been a
wonderful journey, and I’m profoundly thankful to everyone on the
VF team for the passion, skill and teamwork that they continue to
bring to VF every day.”
About VF
VF Corporation (NYSE: VFC) outfits consumers around the world
with its diverse portfolio of iconic lifestyle brands, including
Vans®, The North Face®, Timberland®, Wrangler® and Lee®.
Founded in 1899, VF is one of the world’s largest apparel, footwear
and accessories companies with socially and environmentally
responsible operations spanning numerous geographies, product
categories and distribution channels. VF is committed to delivering
innovative products to consumers and creating long-term value for
its customers and shareholders. For more information,
visit www.vfc.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20170724005357/en/
VF CorporationVanessa McCutchen,
336-424-7776vanessa_mccutchen@vfc.com
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