8 December 2022

VF Corp’s CEO, Steve Rendle, took the athletic and casual market by surprise when he announced his departure from the company on Monday, December 4.

 

 

The reasons for Rendle’s departure have not been clarified, but the board did not waste time an appointed Benno Dorer, a board director, as interim president and CEO, effective immediately, as the company starts the search for a successor.


As chairman, president and CEO of VF Corp, Rendle had been a company veteran of twenty-five years. Last month, well before his departure, important board changes had been implemented at VF Corp’s brands. These changes were Nicole Otto as The North Face’s global brand president, Kevin Bailey as Vans’ global brand president and Marissa Pardini as chief product and merchandising officer.


During his six years at the head of the company, Rendle had overseen substantial growth but as a result of the pandemic, the company was facing headwinds such as lower sneaker and sportswear demand in the US, high inventory costs and foreign exchange challenges.


A combination of these factors prompted VF to lower its earnings estimates for 2023 by 3% to 4%.

About APLF

We bring leather, material and fashion businesses together: an opportunity to meet and greet face to face. We bring them from all parts of the world so that they can find fresh partners, discover new customers or suppliers and keep ahead of industry developments.

 

We organise a number of trade exhibitions which focus on fashion and lifestyle: sectors that are constantly in flux, so visitors and exhibitors alike need to be constantly aware both of the changes around them and those forecast for coming seasons.

 

APLF Fairs follow Informa AllSecure, Informa’s approach to enhanced health and safety standards at events in the aftermath of COVID-19.

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