GERALD EVANS TO SUCCEED RICHARD NOLL AS CEO OF HANESBRANDS
Leading global basic apparel marketer HanesBrands has announced that its board of directors has approved a leadership succession plan, with chairman and chief executive officer Richard A. Noll narrowing his role to executive chairman and chief operating officer Gerald W. Evans Jr. assuming the role of chief executive officer, both effective October 1. Evans has been appointed to the company’s board of directors, effective immediately. With his appointment, the Hanes board has been expanded to 11 members.
Noll and Evans each have held leadership positions at Hanes spanning more than 30 years and have guided the company to become the world’s largest basic apparel company in the nearly 10 years since its 2006 spinoff into an independent publicly traded company.
“The past decade has been a phenomenal journey, and I am very proud of the amazing accomplishments of our 65,000 employees,” said Noll. “This is the perfect time to transition our leadership. Our business is healthy, our acquisitions are performing well, and we have a very bright future. I have full confidence in Gerald’s readiness, ability, and vision to drive the business to even greater heights as CEO.”
Evans, who joined the company in 1983, has a long track record of leadership success in marketing, sales and supply chain. As chief operating officer since 2013, he has had responsibility for the day-to-day running of the $6 billion company with direct oversight of all global commercial businesses and supply-chain operations.
Under his leadership, Hanes has strengthened its world-class brands through the company’s Innovate-to-Elevate initiative, created a low-cost global supply chain that spans the Western Hemisphere and Asia, and has overseen acquisition integrations, including Gear for Sports, Maidenform, Knights Apparel and Hanes Innerwear Europe.
“Each board member has the utmost respect for Rich Noll and Gerald Evans as accomplished leaders of this company,” said Ronald L. Nelson, the board’s lead director. “Under Rich’s leadership, the company has increased its annual sales from $4 billion to $6 billion, grown EPS at a compounded rate of 20 percent per year, and quintupled shareholder value from $2 billion to $10 billion. We are grateful for Rich’s decade of leadership and success, and we are thrilled to have such a capable leader as Gerald to build the business even further.”
“I am honored to become CEO and look forward to driving the organization to the next level of success,” added Evans. “Our brands are primed for growth, our acquisitions are adding significant value and scale, and our product development and innovation pipeline are stronger than ever. Along with our worldwide employees, I am committed to maximizing the value we can create as the very best basics apparel company in the world.”
