DENVER — VF Corporation (NYSE: VFC), a global leader in branded lifestyle apparel, footwear and accessories, today announced Caroline Brown has been named Global Brand President of The North Face®, and will be starting the week of June 10, 2024. Brown succeeds Nicole Otto and, as a result of her appointment, Brown has resigned as a member of the VF Board of Directors.
VF also announced that Mindy Grossman and Kirk Tanner have been appointed independent directors on the VF Board, effective May 30, 2024. Grossman and Tanner will stand for re-election at the 2024 Annual Meeting of VF Shareholders. Benno Dorer has decided not to stand for re-election at the 2024 Annual Meeting.
“Caroline’s expertise in building and transforming global brands, as well as her extensive experience in the apparel and fashion industry, fit perfectly with the needs of The North Face® brand at this time,” added Bracken Darrell, VF’s President and Chief Executive Officer. “With Caroline’s intense focus on brand building, product design, consumer insight, and innovation, I am confident The North Face® will expand on its enormous power as a leading global outdoor brand and be a driving force behind VF’s growth and value creation. On behalf of the Board and leadership team, I thank Nicole for her dedication and service to VF and the brand, and wish her the best in her future endeavors.”
“We are also excited to welcome Mindy and Kirk to the Board,” said Richard Carucci, Chair of the VF Board. “Mindy and Kirk are proven leaders with extensive track records leading complex companies and supercharging the growth of global consumer brands through innovation, marketing and digital strategies. We look forward to benefiting from their insights as VF continues to improve execution and enhance innovation as part of its Reinvent strategy. These appointments represent further steps in VF’s refreshment process, and reflect our continued constructive collaboration with VF shareholder Engaged Capital. With these appointments, VF has added five new directors to its Board within the past two years, including directors with valuable apparel and footwear experience.”
Carucci continued, “We are grateful to Benno for his contributions to VF over many years of service, and particularly appreciate his work and impact as Interim CEO prior to Bracken Darrell’s appointment. We thank Benno and extend to him our best wishes for the future.”
Glenn W. Welling, Founder and CIO of Engaged Capital, said, “We are pleased to have worked with the VF Board on Mindy and Kirk’s appointments. VF shareholders will benefit from Mindy’s apparel and digital expertise and Kirk’s experience operating a multi-branded portfolio at the highest levels. We also are highly supportive of Caroline in her new management role. All three additions bring invaluable skills to the Company and will play important roles in helping accelerate VF’s strategic and business transformation.”
Caroline Brown
Caroline Brown served as an independent director on the VF Board from February 2024 to May 2024. She has extensive experience as a senior leader and board director in the fashion and apparel sector having led global companies and teams operating across the US, Asia, Latin America, Middle East, EU & UK regions. Most recently she was a Managing Director at Closed Loop Partners, a New York-based investment firm and innovation center focused on the circular economy, where she led the firm’s fashion practice. Brown previously served as Chief Executive Officer of Donna Karan International (DKI) and DKNY. During that time, she led a transformation of the company, elevating product design, modernizing brand identity, overseeing organizational structure realignments and supply chain consolidations. She led the company through the sale from LVMH to G-III Apparel Group. Prior to DKI, Brown was President of Carolina Herrera, a luxury fashion house owned by PUIG, where she led the evolution in product development, brand architecture and international expansion. Previously, she served as the US Chief Executive Officer of Akris, a Swiss-based luxury fashion brand. Brown began her career at Giorgio Armani, where she spent over a decade in marketing and communications leadership roles.
Brown has served on numerous boards, including EILEEN FISHER (US), Browzwear (Israel), Dimpora (Switzerland), By Rotation (UK), For Days (US), and others. She is a member of the MIT Sloan Sustainability Initiative Advisory Board and an Advisor to the Martin Trust Center for Entrepreneurship at the MIT Sloan School of Management. Caroline is passionate about mentoring new talent and has served as an advisor to the CFDA / VOGUE Fashion Fund and to the H&M Global Change Awards, supporting the development of future leaders & innovation for the industry.
Mindy Grossman
Mindy Grossman is a Partner at Consello, an Advisory and Investing Platform that advises corporate leaders in the areas of Growth, Marketing, Technology and M&A. The company invests in high potential mid-market companies through its investment arm, Consello Capital. Prior to Consello, Grossman served as President, CEO, and as a member of the Board of Directors of WW International, where she led the organization’s rebranding from Weight Watchers to WW and its evolution to a personalized digital health, wellness and science-based weight loss platform with a digital-first subscription model.
Prior to WW, Grossman served as CEO and as a member of the Board at HSNi (and its predecessor IAC Retail) for 11 years. She was instrumental in the successful turnaround and subsequent 2008 spinoff of IAC Retail, which became a stand-alone public company, HSNi. IAC Retail was comprised of HSN, the TV and digital shopping network and Cornerstone Brands, a portfolio of catalogues, websites and retail locations including Frontgate and Garnet Hill. She ultimately grew HSNi into a $4 billion leader in boundary-less retail, offering customers a seamless shopping experience across multiple channels – television, catalogue, online and mobile. Before HSNi, Grossman served as a Global Vice President at NIKE, Inc. for five years, where she oversaw NIKE’s $4 billion global apparel business, leading the development and growth of the global women’s business. Earlier in her career, Grossman served in a number of leadership roles at Ralph Lauren, including as President of Chaps Ralph Lauren. She also held senior positions at Warnaco, Inc., Tommy Hilfiger and Oxford Industries.
Grossman has served on a number of public and private boards and charities. Currently, she is on the Board of Directors of Hungryroot, Fanatics, Inc., Herself Health and the American Heart Association. She previously served on the Boards of Bloomin’ Brands, Vault Health and UNICEF, as Chair of the National Retail Federation, and as a member of the Digital Economy Board of Advisors for the U.S. Chamber of Commerce.
Kirk Tanner
Kirk Tanner has served as President and CEO of Wendy’s Co. and as a member of its Board since February 2024. Prior to that, he served in leadership roles of increasing responsibility at PepsiCo, Inc. for over 30 years, including as CEO, PepsiCo Beverages North America, the $26 billion business unit, which accounts for approximately 30% of PepsiCo’s overall business; President and Chief Operating Officer, North America Beverages; Chief Operating Officer, North America Beverages; and President, Global Foodservice. During his tenure at PepsiCo, Tanner was instrumental in enhancing operational performance, accelerating revenue growth, incubating and launching new products, entering new markets, and forming strategic partnerships and transactions with major sports leagues and restaurant chains that propelled PepsiCo’s growth.
Tanner is actively involved with various civic organizations and serves as a member of the advisory board of the University of Utah – David Eccles School of Business.
About VF Corporation
Founded in 1899, VF Corporation is one of the world’s largest apparel, footwear and accessories companies connecting people to the lifestyles, activities and experiences they cherish most through a family of iconic outdoor, active and workwear brands including Vans®, The North Face®, Timberland® and Dickies®. Our purpose is to power movements of sustainable and active lifestyles for the betterment of people and our planet. We connect this purpose with a relentless drive to succeed to create value for all stakeholders and use our company as a force for good. For more information, please visit vfc.com.
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