USA: Management Change Announced At The North Face
The North Face, which has recently been acquired by VF Corporation (NYSE: VFC), announced today that Geoffrey Lurie, chief executive officer of The North Face, will step down from his current position. Karl Heinz Salzburger, president of The North Face, will be responsible for running all The North Face operations both here in the US and abroad.Commented Mackey J. McDonald, VF president and chief executive officer: "Geoff has accomplished what he set out to do; namely, develop and implement a solid turnaround strategy for The North Face. Through his efforts and those of the entire North Face team, the company is in an excellent position to take advantage of the terrific growth opportunities offered by this premier brand." Mr McDonald added, "We look forward to working with Geoff on other new business endeavors that VF may pursue. At the same time, we are fortunate to have an executive of Karl Heinz's caliber with the leadership skills that will help us achieve our aggressive growth plans for The North Face brand. Karl Heinz has a strong management team in place, and we will be working with him to identify and provide additional senior level talent, both from within and outside the North Face, that will help us drive the future growth of the business."Headquartered in San Leandro, California, The North Face was founded in 1966. Today, The North Face offers the most technically advanced products in the market to accomplished climbers, mountaineers, extreme skiers and explorers. The company's products are sold in specialty mountaineering, backpacking and skiing retailers, premium-sporting goods retailers and major outdoor specialty retail chains. Additional information about The North Face can be found on the brand's website,
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