Apparel and footwear giant VF Corp has named Scott Roe as its new CFO, replacing Robert Shearer who is to step down next year after 28 years with the company.

Roe, who currently serves as vice president, controller and chief accounting officer, will take on his new role in March 2015 when Shearer retires.

Roe joined VF in 1996 as an audit manager, and has since held multiple positions of increasing responsibility within the finance organisation, including vice president of finance, and CFO for the company's international business.

Shearer, meanwhile, was appointed assistant controller at VF in 1986, and was named senior vice president and CFO nine years ago.

During his tenure as CFO, VF's revenues have more than doubled to US$11.4bn in 2013, and its share price has increased five-fold.

CORRECTION: This article was updated on 2 October, 2014. The original title read 'CEO' rather than 'CFO'.