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VF Corporation revealed it has appointed the former executive of DKNY, Caroline Brown, to its board of directors. Observers said that she was included due to pressure from activist shareholder, Engaged Capital.
As per Bloomberg, VF Corporation said on Tuesday, Feb. 13, that it is planning to add another independent director, and in the selection, it would prioritize names or candidates singled out by Engaged Capital, a mortgage management and investment firm.
About Caroline Brown
The newly-appointed board director is a veteran in the fashion field. She has worked in a number of companies including DKNY, EILEEN FISHER, For Days, Browzwear, Dimpora, and others.
Moreover, Brown is a member of the MIT Sloan Sustainability Initiative Advisory Board and the Martin Trust Center for Entrepreneurship at the MIT Sloan School of Management where she serves as an advisor. At Donna Karan International and DKNY, she served as chief executive officer from 2015 to 2017.
VF’s Appointments to Freshen the Board
Caroline Brown was the latest executive to be added to VF Corporation’s board. Five new directors have been appointed to the company's board in the last two years. The firm believes this move will help refresh its board since it is adding executives with experience in various fields such as retail, technology, design, and retail.
“We are excited to welcome Caroline to the VF Board. 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,” VF Board’s chairman, Richard Carucci, said in a press release.
He added, “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.”
Photo by: VF Corporation Press Release
