- Prachi Singh |
VF Corporation’s executive chairman and director Eric C. Wiseman has decided to retire effective October 28, 2017. VF’s board of directors has elected President, Chief Executive Officer and Director Steven E. Rendle, to the role of Chairman effective upon Wiseman’s retirement. The company said, Wiseman’s retirement completes VF’s planned leadership succession, which began with the promotion of Rendle to president and chief operating officer in June 2015, and to CEO in January of this year.
“Now is the right time to take this final step in our leadership succession plan,” Wiseman said in a statement, adding, “With credit to our board of directors, the plan and its implementation have proven successful. Steve’s transition to CEO has gone smoothly, and just as he was the right person to serve as VF’s next CEO, Steve is the right person to now serve as our chairman of the Board.”
VF’s chairman Eric Wiseman to retire in October
“Succession planning at the highest levels of VF’s senior leadership team is a key component of the company’s long-term success, a responsibility the board takes very seriously,” said Alan McCollough, Lead Independent Director of VF’s Board of Directors in a media release, adding, “The decision to select Steve as Chairman was made following a thorough evaluation of the required skill and leadership capabilities necessary to fuel the company’s continued global growth.”
The company said, Wiseman began his career with VF in 1995 when he joined the company as executive vice president of the JanSport business. He then held a progression of leadership roles, including chairman of VF's sportswear and outdoor coalitions and executive vice president, Global Brands. He was named president and chief operating officer in 2006, and elected to VF's board of directors that same year. Wiseman was named CEO in January 2008 and chairman of the Board in August 2008.
“Eric is a proven leader and throughout his career he has inspired others to excellence. His success has always been guided by values that are core to who he is, including respect, integrity, determination and grit. During his time as VF’s chairman and CEO, Eric helped to successfully guide the company through the great recession and its aftermath, and he grew VF’s business presence around the world. And, it’s especially noteworthy that during Eric’s time as CEO the company’s share price more than tripled,” added Rendle.
Picture:Steven Rendle, VF website