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Warnaco names Helen McCluskey President, CEO

14
Dec '11
The Warnaco Group Inc. announced that its Board of Directors has elected Helen McCluskey President, Chief Executive Officer, and a member of its Board of Directors, effective February 1, 2012. Ms. McCluskey will succeed Joe Gromek, age 65, Warnaco's President and Chief Executive Officer, who announced that he will retire from the Company and the Board of Directors. Ms. McCluskey, age 56, currently serves as Chief Operating Officer of Warnaco.

Ms. McCluskey joined Warnaco in 2004 as Group President-Intimate Apparel, and in June 2007 added global responsibility for the Company's Swimwear brands. She was promoted to Chief Operating Officer in 2010, adding to her responsibilities oversight of the Calvin Klein Jeans and Chaps brands as well as all of the Company's international businesses and its global supply chain and sourcing operations.

She dramatically expanded the Calvin Klein Underwear business, doubling revenue in a four-year period, and was instrumental in key product launches including Calvin Klein Steel, Calvin Klein X and CK One.

Early in her tenure at Warnaco, Ms. McCluskey was responsible for revitalizing the Company's core intimate apparel brands to deliver consistent growth and profit contribution. In addition, she also was responsible for restoring growth and improved financial performance to the Speedo brand.

Prior to joining Warnaco in 2004, Ms. McCluskey served as Group President of the Moderate Women's Sportswear division of Liz Claiborne Inc. and spent 18 years in Sara Lee Corporation's intimate apparel units, including serving as President of Playtex Apparel from 1999 to 2001.

Charles R. Perrin, Non-Executive Chairman of Warnaco, said, “The Board, together with Joe, has been working on a succession planning process for several years to assure a smooth and seamless transition of leadership upon Joe's retirement.

The Board has been fortunate to have had a world class CEO in place since 2003 who has been able to recruit, retain, and mentor top talent, such as Helen, from which we could confidently appoint Warnaco's next CEO.

Since Helen's arrival, she has impressed the Board, customers, and colleagues alike and she has demonstrated leadership qualities that we believe will ensure Warnaco's continued success. Moreover, she has exhibited a broad and deep knowledge across the Company's entire operations and has played a vital role in designing our future strategy as well as executing the current plan. We are delighted that she will assume the CEO position.”

Mr. Gromek said, “This announcement is great news for our shareholders, employees, customers and partners around the world. For me, it has been an extraordinary and rewarding experience to lead this company over the past nine years, and while I am deeply proud of the many accomplishments we have achieved, the one I am most proud of is the team we have built.

Hiring and mentoring Helen, as she assumed broader responsibilities within Warnaco, was a key element of that important and successful initiative and I am delighted the Board has appointed her as my successor.”


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