Vans’ parent company, Denver-based VF Corp. (NYSE: VFC), has engaged with Newport Beach activist investor Engaged Capital to appoint Caroline Brown to its board of directors, effective Feb. 14.
VF will soon appoint another board member in mutual agreement with Engaged Capital, giving priority to the firm’s candidates.
“We believe these appointments will help support Bracken Darrell and the management team as they lead the turnaround of this iconic portfolio of brands,” Founder and Chief Investment Officer Glenn Welling said in a statement.
Brown counts more than 30 years of executive and advisor experience in the apparel and fashion sector starting her career with 13 years at Giorgio Armani. She was previously a managing director at investment firm Closed Loop Partners in New York for four years after leading three different companies as CEO and president.
“I believe VF has what it needs to return to strong and sustainable profitable growth, and I look forward to capitalizing on my experience to help the company deliver enhanced value for shareholders over time,” Brown said.
