VF Corporation, parent company of brands such as The North Face, Timberland and Wrangler, is the latest retailer to undergo a CEO transition. Eric Wiseman, who has served as VF’s CEO since January 2008, will step down from his position at the end of the year.
Steven Rendle, President and Chief Operating Officer of VF Corporation, will succeed Wiseman as CEO effective Jan. 1, 2017, while Wiseman will continue to serve as Executive Chairman of VF’s Board of Directors. As President and CEO, Rendle will be responsible for VF’s strategic direction, the implementation and achievement of its near- and long-term growth plan and day-to-day global operations.
[loadposition GIAA]In his prior role, Rendle oversaw all four of VF’s brand coalitions worldwide: Outdoor & Action Sports, Jeanswear, Imagewear and Sportswear. Additionally, Rendle has been responsible for VF’s global supply chain and direct-to-consumer platforms.
The Board has not yet named a successor as Chief Operating Officer.
Although VF Corporation increased revenue 1% in Q2, the conglomerate lowered its annual outlook from a “mid-single-digit percentage rate increase” to a projected increase of 3% to 4%. In June, VF Corporation sold off its Contemporary Brand coalition of businesses — which included 7 For All Mankind, Splendid and Ella Moss — to apparel manufacturer Delta Galil Industries for $120 million.