Fashion’s revolving executive door continues to swing as some industry veterans step down and new faces emerge at the helm. Below, a round up of the latest, biggest moves.
Amid declining earnings this year, VF Corp. announced that its CEO of nine years Eric Wiseman will be replaced by current COO Steven Rendle. Wiseman, whose legacy includes the acquisition of Timberland and growing sales by nearly $5 billion, will stay on as executive chairman after Rendle takes over on January 1, 2017.
Rendle is faced with a “challenging environment with mixed economic and currency conditions around the world,” as cited by Wiseman after he lowered the company’s earnings forecast for the year. At the helm, Rendle will be responsible for VF’s strategic direction, successful implementation and achievement of its near- and long-term growth plan, and day-to-day global operations.
“Steve is the right person to serve as VF’s next CEO as we begin our 118th year of business,” Wiseman said in a statement. “As you’d expect of VF, and with full credit to our Board of Directors, we have a long-standing, rigorous and successful approach to succession planning. We’ve been working since 2008 to identify and prepare the right person to succeed me when the time comes. That time is now.”
As of November 1, 2016, Diane Ellis will serve as President of Chico’s, reporting directly to Chico’s president and CEO Shelley Broader.
Ellis comes from The Limited, where she served as CEO. Her career has spanned more than 35 years of retail experience with executive positions at The Limited and Brooks Brothers, among other multichannel retail companies.
“Diane is a seasoned leader who has proven time and again that she is one of the most strategic business and brand builders in retail. She brings merchandising, marketing and operational expertise as well as a strong passion for our customers,” said Broader. “As we continue to position our Company to win in the future, I am proud to welcome Diane to Chico’s.”
“I am thrilled to join Chico’s, an iconic brand that I’ve long admired,” Ms. Ellis said. “The Company has made great strides with its strategic initiatives, and as the retail landscape and customer behavior evolves, I’m excited to lead and support the team as we continue to strengthen Chico’s brand position and find new ways to innovate and delight our customers.”
Fabio Marangoni has jumped ship at VF Corp. and joined leading lifestyle brand Reef as General Manager of EMEA (Europe, Middle East, and Africa). Marangoni will report to Reef president, Jeff Moore, and will be leading the EMEA product, sales and marketing strategy to help drive brand growth globally.
Known for their active lifestyle apparel (surfwear, casual footwear, active apparel), Marangoni was a natural fit for the brand. He joins the team with an impressive resume of work in the action sports, outdoor and lifestyle industries. Most recently, he served as Area Manager of Emerging Markets and Distributors for Vans EMEA, and before that was sales director at Alpinestars EMEA, overseeing all brand sales.
Reef President, Jeff Moore, said, “I’m very pleased to have Fabio join the Reef family. His experience and connectivity both within Action Sports and Lifestyle channels will be a great asset as we continue our growth in EMEA.”