VF Corp Ropes In Logitech's Former Top Executive As New CEO

VF Corp (NYSE: VFC) disclosed the appointment of Bracken Darrell as President and CEO, effective July 17, 2023.

Darrell will be replacing Benno Dorer, who served the company as Interim President and CEO since December 5, 2022.

Darell most recently served Logitech International SA (NASDAQ: LOGI) as President and CEO since 2013.

"We are highly confident that under Bracken's leadership, VF will achieve new levels of success that will make its associates, investors, and stakeholders proud," said Richard Carucci, Chair of the Board.

In December 2022, VFC announced the retirement of Steve Rendle from the position of chairman, president, and CEO. 

Last month, VFC reported a Q4 FY23 sales decline of 3% Y/Y to $2.74 billion, marginally beating the consensus of $2.73 billion, and adjusted EPS of $0.17 beat the analyst consensus of $0.14.

Price Action: VFC shares are trading higher by 1.59% at $19.82 on the last check Tuesday.