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Eric Wiseman to become CEO of VF Corporation
05 Oct '07
2 min read
The Board of Directors of VF Corporation, a global leader in branded lifestyle apparel announced that President and Chief Operating Officer Eric C. Wiseman will become Chief Executive Officer, effective Jan. 1, 2008. Wiseman, 51, will succeed CEO Mackey J. McDonald, who will continue to serve as Chairman of VF's Board of Directors.
As President and CEO, Wiseman will have responsibility for VF's strategic direction, execution of its long-term growth plan and day-to-day operations. As Chairman, McDonald, 60, will remain involved on a full-time basis with acquisition identification, talent development programs, customer relations and Board management.
"As CEO, my primary objective has been to grow the company. We are in a great place in that VF's transformation to a global lifestyle apparel company is well underway and producing outstanding results for shareholders. We have achieved four consecutive years of record earnings and we anticipate another record year in 2007."
"In terms of management succession, I wanted to transition out of the CEO role when VF was in a very strong position with a very bright future and that's where we are today. This is the right time to implement the next step in our very successful management succession plan," McDonald said.
"Eric Wiseman is a tremendously talented and collaborative leader who possesses a unique combination of strategic thinking and operational expertise. Eric has displayed great leadership in the execution of VF's growth plan and in his ability to build an experienced and talented management team. Over the past year he has been driving the development of VF's long-term strategic business plan across our coalitions and brands, and I anticipate a very smooth transition and continued growth under his leadership."
As President and CEO, Wiseman will have responsibility for VF's strategic direction, execution of its long-term growth plan and day-to-day operations. As Chairman, McDonald, 60, will remain involved on a full-time basis with acquisition identification, talent development programs, customer relations and Board management.
"As CEO, my primary objective has been to grow the company. We are in a great place in that VF's transformation to a global lifestyle apparel company is well underway and producing outstanding results for shareholders. We have achieved four consecutive years of record earnings and we anticipate another record year in 2007."
"In terms of management succession, I wanted to transition out of the CEO role when VF was in a very strong position with a very bright future and that's where we are today. This is the right time to implement the next step in our very successful management succession plan," McDonald said.
"Eric Wiseman is a tremendously talented and collaborative leader who possesses a unique combination of strategic thinking and operational expertise. Eric has displayed great leadership in the execution of VF's growth plan and in his ability to build an experienced and talented management team. Over the past year he has been driving the development of VF's long-term strategic business plan across our coalitions and brands, and I anticipate a very smooth transition and continued growth under his leadership."
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