Brown Leaves Her Role on the Board of VF Corp, the Brand’s Parent Company, Which Is Making a Strategic Reshuffling
Caroline Brown is leaving the board of VF Corp to take on the role of global brand president for The North Face. After joining the board in February, Brown is noted for an extensive resume boasting previous roles like CEO of Donna Karan International and managing director of Closed Loop Partners, a New York-based investment company. Her position at The North Face will commence in the coming week, as she succeeds Nicole Otto. Otto’s departure has been referred to as an “involuntary termination without cause,” based on a regulatory document.
Along with Brown’s switch, VF’s board has seen some additional adjustments as it looks to sell off brands and revitalize the struggling Van’s business. In partnership with Engaged Capital, an activist investor, they’ve welcomed Mindy Grossman and Kirk Tanner as independent directors.
Grossman brings valuable experience from platforms like Consello where she is a partner, and from her time as CEO of WW International during its transition from Weight Watchers. Moreover, she was previously at the helm of leadership at HSNi. Tanner, now the CEO of Wendy’s Co., builds on a career spanning over three decades with PepsiCo Inc.
Board member Benno Dorer will step down following a stint as interim CEO before Bracken Darrell, the current CEO stepped in.
Chair of VF, Richard Carucci said, “Mindy and Kirk are proven leaders with extensive track records leading complex companies and supercharging the growth of global consumer brands through innovation, marketing and digital strategies.” He added that these changes would help VF continue to “improve execution and enhance innovation as part of its Reinvent strategy”, which falls in line with the objectives laid out by the major VF shareholder, Engaged Capital.
Engaged’s founder and chief investment officer, Glenn Welling voiced his faith in the newly appointed members saying, “VF shareholders will benefit from Mindy’s apparel and digital expertise and Kirk’s experience operating a multibranded portfolio at the highest levels. We also are highly supportive of Caroline in her new management role. All three additions bring invaluable skills to the company and will play important roles in helping accelerate VF’s strategic and business transformation.”
Since stepping into the CEO role, Darrell has been quick to make changes at VF, specifically through a portfolio review that could lead to the breakup of several brands, including Supreme. Despite these alterations, The North Face remains a beacon for Darrell. Commenting on Brown’s appointment, he stated,
Caroline’s expertise in building and transforming global brands, as well as her extensive experience in the apparel and fashion industry, fit perfectly with the needs of The North Face brand at this time.
Bracken Darrell
He further expressed confidence in Brown’s ability to drive growth and innovation for the outdoor-oriented brand.
