VF Corp. appoints new CEO to drive business transformation
VF Corp's new CEO, Bracken Darrell, discussed his plans to improve the company's business, including a focus on turning around the declining sales of its popular brand, Vans. Darrell emphasized the need to make the US business as popular as it is abroad, lower the cost base, reinvest in innovation and brand building, and reduce debt. He acknowledged that Vans had lost sight of its original target audience and aims to reconnect with the skater community and appeal to the mischievous and fun side of consumers. VF Corp recently withdrew its full-year revenue and profit forecasts after experiencing an 11% decline in US sales during the second quarter.