US: VF Corp chairman McDonald to retire
Branded apparel company VF Corporation has completed its leadership succession process with the naming of president and CEO Eric Wiseman as its new chairman.
Wiseman will succeed Mackey J McDonald in the role on 1 August when McDonald retires after 25 years with the lifestyle apparel company whose brands include Wrangler, Lee, The North Face, Vans, and 7 For All Mankind.
The appointment follows Wiseman's earlier appointments as president and COO in 2006, and as CEO in January this year.
Hailing McDonald as "a tremendous leader", Wiseman paid the following tribute: "He led the successful transformation of VF into a dynamic lifestyle brand company, well-positioned for future growth and, perhaps most importantly, he helped build a unique, performance-driven culture based on the highest levels of integrity and respect for individuals."
McDonald completed 11 years as CEO and 10 years as chairman.
"The time is right to complete the final step of our leadership succession," he said. "Eric's transition to CEO has gone extremely well and he continues to demonstrate outstanding leadership.
"I feel extremely gratified in knowing that VF has a very bright future.
"We have the strongest leadership and the most talented and dedicated associates in the apparel industry, all of whom are keenly focused on producing results for our shareholders."
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