The Lycra Company’s appointment of Smith, who has over 25 years of experience in the consumer products industry, brings a wealth of knowledge to the global fibre and technology firm.

His background in brand-driven commercial strategy, operational transformation, and global expansion positions him as a strong candidate to lead the company into its next phase of growth.

Smith will report directly to the company’s board of directors and will assume responsibility for overseeing the Lycra Company’s global organisation.

Most recently serving as the CEO of Hatteras Yachts, Inc., Smith successfully orchestrated a turnaround and subsequent sale of the custom motor and sports fishing yacht company.

During his tenure as the CEO of Polartec, he spearheaded transformation efforts that propelled the textile company toward success.

Additionally, Smith served as president of the Outdoor Group at the Timberland company.

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By GlobalData

Craig Rogerson, executive chairman of the Lycra Company stated: “Gary is a proven CEO with deep brand experience and knowledge of our industry, along with a long history of successfully growing companies and creating shareholder value.

Dean Williams, who has been serving as the acting CEO since August, will return to his role as chief financial officer (CFO) and will play a key role in facilitating a smooth transition.

“We are confident that his leadership will help us accelerate our long-term growth plans.”

In response to his appointment, Smith highlighted the company’s impressive portfolio of world-class brands, pre-eminent market position, and a rich history of innovation and added:

“I look forward to leading this incredible organisation and working collaboratively to build upon its foundational success.”

In September, the Lycra Company unveiled two new, eco-friendly elastane fibres that claimed to last “ten times longer than garments made with unprotected elastane.”