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Shuffle Board: News at the Top for Tapestry, Hanesbrands, L Brands, RYU Apparel and UPS

Brands

Tapestry

Tapestry Inc. announced that Jide Zeitlin, chairman and CEO, has committed to continue leading the company for the next three years as Tapestry defines and implements its multi-year growth agenda.

The company also announced that Joshua Schulman, CEO and brand president of Coach, will depart the organization after a transition period. During the search for Schulman’s successor, Zeitlin will have direct oversight of Coach’s strategy and operations, working closely with the brand’s senior leadership team.

Tapestry’s portfolio includes Coach, Kate Spade and Stuart Weitzman. Based in New York, the company had sales of $3.17 billion in the first half of its fiscal year ended Dec. 28, with a net loss of $63.5 million in the period.

Hanesbrands

Hanesbrands announced that CEO Gerald W. Evans Jr. has notified the company’s board of directors of his decision to retire at the end of the current fiscal year on Jan. 2, 2021.

The Hanes board has commenced a comprehensive search process to identify the company’s next CEO with the assistance of Russell Reynolds Associates, an independent executive search firm.

Evans joined Hanes in 1983 and has played a critical role in the company’s growth, success and evolution. Since being appointed CEO in 2016, he has overseen the successful execution of a strategy focused on cash generation, channel and geographic diversification, omnichannel expansion, organic sales growth, and innovation leveraging brand building and the company’s global supply chain.

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RYU Apparel

RYU Apparel Inc., an urban athletic clothing brand, announced that Marcello Leone resigned as CEO and president.

Leone will retain his seat on the board of directors and was appointed executive chairman. The board appointed Cesare Fazari as interim CEO.

The company said Fazari’s primary task in his new role is to successfully complete a previously announced private placement financing for a minimum of $7 million and to execute a smooth transition to the proposed Consulting Group.

Fazari will be compensated by receiving 2 million stock options at the price of 5 cents, vested instantly.

Fazari, founding partner of Northwood Developments, with more than 30 years of experience in retail real estate developments, has been the seed Venture Capital investor in several public and private companies. He owns a vast portfolio of more than 1 million square feet of RE holdings, including residential units, office spaces, commercial retail, industrial space and land.

Closet London

Antonio Marsocci joined Closet London as sales and marketing director.

Marsocci brings brand experience to the contemporary women’s wear line from his time at Matches, Habitat and Lotus. Marsocci is tasked with transforming Closet London by using the latest technology to build a new franchise model and improve the company’s carbon footprint by exploring the usage of more sustainable practices.

Retail

Gap Inc.

Following the earlier announcement of the appointment of Sonia Syngal to CEO, effective March 23, the company announced a series of additional leadership changes.

Katrina O’Connell, chief financial officer (CFO) of Old Navy, will become the company’s CFO, succeeding Teri List-Stoll, who has served in the role since January 2017. List-Stoll will remain with Gap Inc. for several months to ensure a smooth transition.

Additional leadership appointments included Mark Breitbard to lead the company’s specialty brands, as well as its Asia business and franchise division, and Nancy Green will step up to lead the Old Navy brand while the board and management undergo an internal and external search for the next president and CEO. These positions are also effective March 23.​​

Hibbett Sports

Hibbett Sports Inc. announced the departure of Cathy Pryor as senior vice president of operations and the promotion of Benjamin Knighten to the same position.

Hibbett, headquartered in Birmingham, Ala., is an athletic-inspired fashion retailer with approximately 1,100 stores under the Hibbett Sports and City Gear banners, primarily located in small and mid-sized communities.

L Brands

L Brands Inc. appointed Sarah E. Nash as chair of the board of directors, effective upon the close of the transaction to sell a majority interest in Victoria’s Secret to Sycamore Partners.

As previously announced Leslie H. Wexner will step down as CEO and chairman of L Brands upon the close of the transaction and will remain a member of the board as chairman emeritus. Additionally, current lead independent director Allan Tessler, as well as directors Gordon Gee and Raymond Zimmerman, will retire as of the date of the annual meeting. Upon Tessler’s retirement, Nash will serve as lead independent director.

Nash joined the L Brands board last May. She is currently the chair of the board and CEO of privately held Novagard Solutions, a manufacturer of silicone and thermal sealants, coatings and foam products and has held this position since 2018.

Ross Stores

Ross Stores Inc. announced that Patricia H. Mueller and Larree M. Renda have been elected to its board of directors.

Mueller most recently served as chief marketing officer and senior vice president of advertising and marketing for The Home Depot Inc. from 2011 to 2016. She currently serves on the board of Dave & Buster’s Entertainment Inc. and is the co-founder of Mueller Retail Consulting.

Renda spent more than 40 years at Safeway Inc., one of the largest supermarket chains in North America, where she had a broad range of responsibilities across many different functions. She most recently served as an executive vice president from 1999 to 2015.She currently serves on the board of Casey’s General Stores Inc.

Omnicon Retail Group

Omnicom Retail Group (ORG) appointed Bryan Gildenberg as senior vice president of commerce.

In this new position, Gildenberg will strengthen ORG’s retailer intelligence and partnerships, provide hands-on retail strategy, and evolve ORG’s transactional data and shopper insight capabilities. Gildenberg will report to ORG CEO Sophie Daranyi.

Gildenberg is an established retail expert and joins from Kantar’s retail consulting practice, where he was chief knowledge officer for retail and a member of the practice’s executive committee.

ORG is a consultancy for creativity and capability in retail, shopper and commerce marketing, focused on driving sales growth through increased online and offline conversion and transaction.

NRF Foundation

National Retail Federation (NRF) president and CEO Matthew Shay named Bill Thorne, senior vice president of communications and public affairs, as the new executive director of the NRF Foundation and senior vice president of NRF.

The NRF Foundation is the philanthropic arm of the NRF and is funded in part by donations from retail industry supporters. The foundation builds the bridge between a growing industry with hundreds of thousands of open positions and job seekers around the country. Through education, training, scholarships and experiences for job seekers of all ages and backgrounds, it helps people take their first steps toward promising careers.

Shay indicated he is moving quickly to fill the position Thorne is vacating, with the transition taking place by the end of the month.

Textiles

Lenzing

Stephan Trubrich assumed the new role of vice president of capital markets at Lenzing Group.

In his capacity, Trubrich will oversee the Lenzing Group’s capital markets activities, including investor relations and ESG (environmental, social and governance) reporting. He will report directly to Stefan Doboczky, CEO of the Lenzing Group.

Trubrich has more than nie years of experience in the field of equity research with Kepler Cheuvreux, UniCredit and Deutsche Bank.

Stephanie Kniep, head of investor relations, will leave Lenzing as of April 30 to pursue new endeavors.

Eastman

Eastman Chemical Company announced that Kellye L. Walker will join the company on April 13 as executive vice president (EVP) and chief legal officer.

Walker will assume the position from Clark L. Jordan, who has been serving as Eastman’s interim chief legal officer since Aug. 1. Jordan will remain with the company as a member of senior management.

Walker joins Eastman having most recently served as EVP and chief legal officer of Huntington Ingalls Industries, Inc., a large U.S. military shipbuilding company and government services provider.

Logistics

UPS

The UPS board of directors named Carol Tomé as UPS CEO, effective June 1. David Abney, the current chairman and CEO, will remain in his role until June 1 when he will become executive chairman of the board.

Abney will retire from the UPS board on Sept. 30. In order to ensure a smooth transition and successful peak season, Abney will remain as a special consultant through the end of 2020 and then retire after 46 years of UPS service. On Sept. 30, William Johnson, UPS lead independent director, will assume the role of non-executive chairman.

Tomé becomes the 12th CEO in the 113-year history of UPS. She has been a member of the UPS board since 2003 and serves as chairperson of the audit committee. Tomé is the former EVP and CFO of The Home Depot.

Abney was appointed CEO in 2014 and as chairman in 2016. He previously served as chief operating officer since 2007.

FedEx

FedEx Corp. announced today that Alan Graf, EVP and CFO, will retire effective Dec. 31. Mike Lenz, corporate vice president and treasurer, has been named his successor.

Graf joined FedEx in 1980 and became CFO of FedEx Express in 1991 and CFO of FedEx Corp. in 1998, where he has been responsible for all aspects of the corporation’s global financial functions, including financial planning, treasury, tax, accounting and controls, internal audit, investor relations, and corporate development.

Graf will serve as CFO until Sept. 22 and remain at the company as EVP and senior advisor through the end of the year to ensure a smooth transition of responsibilities.

Lenz will become EVP and CFO-elect, effective June 1 and will assume the role of CFO for FedEx Corp. on Sept. 22, reporting to Frederick W. Smith, FedEx Corp. chairman and CEO.

Lenz joined FedEx in 2005 as VP of finance at FedEx Office. He became staff VP of strategic finance at FedEx Corp. in 2010, followed by a promotion to his current role as corporate VP and treasurer in 2012.

Lenz will be succeeded by Bert Nappier, currently regional president of Europe and CEO of TNT Express. Effective June 1, Nappier will assume the role of EVP, treasurer, tax and corporate development for FedEx Corp.

Karen Reddington, currently regional president of the Asia Pacific region for FedEx Express, will replace Nappier in Europe. Kawal Preet, currently SVP of North and South Pacific operations for FedEx Express, will succeed Reddington.