HanesBrands Announces Leadership Changes
HanesBrands has announced a change in its leadership, with chairman and CEO Richard A. Noll stepping down, and current COO Gerald W. Evans becoming chief executive officer. Noll will assume the role of executive chairman. The transition will be effective October 1. HanesBrands participates in the promotional products industry as supplier Hanes/Champion (UPIC: HBIINC).
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. He and Noll have held leadership positions at Hanes spanning more than 30 years.
“The past decade has been a phenomenal journey, and I am very proud of the amazing accomplishments of our 65,000 employees,” says 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.”
The executive transition is expected to be seamless as a result of the board’s continuous leadership succession planning for the company’s senior ranks.
“Each board member has the utmost respect for Rich Noll and Gerald Evans as accomplished leaders of this company,” says the board’s lead director, Ronald L. Nelson. “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.”
Evans joined the company in 1983 and has held leadership positions in marketing, sales and supply chain. He has served as chief operating officer since 2013, where he 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.
“I am honored to become CEO and look forward to driving the organization to the next level of success,” says 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.”