HanesBrands Appoints William S. Simon Chairman of the Board of Directors

HanesBrands (NYSE: HBI) today announced that its Board of Directors (the “Board”) has appointed William S. Simon to serve as Chairman of the Board, effective December 31, 2023. His appointment follows Ronald L. Nelson’s decision to retire as Chairman and a member of the Board at the end of the year.

Mr. Simon has been a director at the Company since 2021 and has previously served on the Talent and Compensation Committee and the Governance and Nominating Committee. He is Executive Advisor to the KKR & Co. investment firm and President of WSS Venture Holdings, LLC, a consulting and investment company, after having served as President and CEO of Walmart U.S., and brings extensive senior leadership skills and deep experience as a public company director at other consumer-facing companies.

Cheryl K. Beebe and Ann E. Ziegler will also retire as members of the Board on December 31, 2023. These changes follow the appointment of three new independent directors, Colin Browne, Natasha Chand and John Mehas, last month and align with the Company’s previously announced intent to return the Board to 10 members.

Steve Bratspies, CEO and Director, said, “HanesBrands has been fortunate to benefit from the strategic leadership, operational expertise and financial acumen that Ron, Cheryl and Ann each brought to the Board. They have made significant contributions to the Company throughout their years of service. They served as valuable partners to me and our leadership team as we have developed and executed a strategy to capitalize on HanesBrands’ growth opportunities, simplify our global business and best position our brands for success in an evolving consumer environment. I look forward to working with Bill in his new role as Chairman as we accelerate and continue to advance our strategic initiatives.”

Mr. Simon, incoming Chairman of the Board, said, “On behalf of the Board, I thank Ron for his years of leadership and Cheryl and Ann for their dedication to HanesBrands. I appreciate the Board’s confidence in me, and I look forward to working with my fellow directors and the management team in my new role as Chairman. As we move ahead with fresh perspectives gained from our recently appointed new directors, the Board continues to be intensely focused on delivering enhanced shareholder value. We are collectively committed to supporting management as the team executes on opportunities to drive improved growth and profitability.”