HanesBrands adds supply chain executive to board
U.S. apparel maker HanesBrands announced on Monday the appointment of Mark Irvin to its board of directors.
Irvin will also serve on the governance and nominating committee. His term runs through the 2024 annual meeting of stockholders.
A retail veteran, Irvin is currently the executive vice president and chief supply chain officer for Best Buy Co. where he oversees the strategy and day-to-day operations of the company's global supply chain.
Prior to this, Irvin served as the company’s chief inclusion, diversity and talent officer, leading the company’s strategy for creating and sustaining an inclusive work environment.
Before joining Best Buy in 2013, Irvin held leadership roles at Target, Cummins, Corporate Express Delivery Systems and Baxter Healthcare.
The executive also serves on the National Retail Federation Foundation board of directors.
“Mark brings more than 30 years of experience leading global supply chains and complex organizations,” said Steve Bratspies, CEO.
“His leadership will be particularly valuable as we continue to strengthen our agile and resilient supply chain and build the diverse talent necessary to unlock our 'Full Potential'."
Irvin replaces Bobby Griffin, a director since 2006, who plans to retire from the board when his current term ends at the 2023 annual meeting of stockholders.
"We’re thrilled to have a leader of Mark’s experience join our board,” said HanesBrands board chairman Ronald Nelson. “His leadership, knowledge of global supply chains and experience building talent will be particularly valuable as we execute our long-term growth strategy. In addition, I want to thank Bobby for his service to HanesBrands and wish him all the best in the future.”
In its most recent trading update in early February, HanesBrands announced better-than-expected fourth-quarter sales, which fell 6% to $1.47 billion, which included a $55 million unfavorable impact from foreign exchange rates, compared to last year.
The Winston-Salem, North Carolina-based company said Champion brand sales decreased 18% on a reported basis, while innerwear sales decreased 19% compared to last year, and activewear sales declined 16% compared to last year.
International sales decreased 12% on a reported basis. In its continuing operations, the company swung from income of $68 million in the fourth quarter of 2021 to a loss of $418 million in the fourth quarter of 2022.
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