VF Corporation Aligns with Engaged Capital and Appoints Caroline Brown to Board - Seite 2

Ms. Brown has served on numerous boards of innovative companies in the fashion industry including EILEEN FISHER, Browzwear, Dimpora, By Rotation, For Days, and others. She is a member of the MIT Sloan Sustainability Initiative Advisory Board and is an Advisor to the Martin Trust Center for Entrepreneurship at the MIT Sloan School of Management.

“We are excited to welcome Caroline to the VF Board,” said Chair of the VF Board, Richard Carucci. “Caroline is highly respected in the apparel industry, with a proven track record of turning around, scaling and transforming global brands, and her insights will be valuable as the company continues to execute its Reinvent strategy.”

“I’m honored to be joining VF’s Board and look forward to working with management and my fellow directors at this important moment for the company,” said Brown. “Having worked on the leadership and investment sides of the apparel and fashion industry, I recognize the tremendous potential of VF’s portfolio of beloved brands. I believe VF has what it needs to return to strong and sustainable profitable growth, and I look forward to capitalizing on my experience to help the company deliver enhanced value for shareholders over time.”

This appointment is another step in VF’s continuous refreshment of the Board. With this appointment, VF has added four new directors to its Board within the past two years (five following the appointment of the Additional Director), expanding the Board’s experience in footwear and apparel, retail, design, technology and sustainability.

Mr. Carucci continued, “We appreciate the constructive input provided by Engaged Capital over the past several months and look forward to continuing our dialogue with Engaged Capital and other shareholders as we continue improving the company’s performance.”

Glenn W. Welling, Founder and CIO of Engaged Capital, said, “We are excited that the Board has added Caroline Brown, who will bring a wealth of apparel experience to the boardroom. We look forward to continuing to work collaboratively with Caroline and the rest of the Board on the appointment of the Additional Director. We believe these appointments will help support Bracken Darrell and the management team as they lead the turnaround of this iconic portfolio of brands.”