HanesBrands Announces Planned Leadership Succession
Board Initiates Search for Hanes’ Next CEO
Steve Bratspies to Continue as CEO and Director Until Year-End or Successor Appointed
“Having reached a positive and important inflection point in executing our strategy and looking ahead to the next leg of the Company’s journey, the Board, in concurrence with Steve, has decided that now is the right time to initiate a search for our next CEO. We are actively searching for the next leader who will continue building on our momentum for the next chapter of the Company’s growth. We will provide updates as appropriate,” said Bill Simon, Chairman of the Board. “On behalf of the entire Board, we deeply appreciate the transformative leadership Steve has demonstrated throughout his tenure as CEO to make HanesBrands a new and better company. Steve led HanesBrands through a turbulent period in our industry, overhauling the Company’s operating model, completing the sale of the Champion business and positioning HanesBrands as a global powerhouse in basics and innerwear. Under Steve’s leadership, the Company has narrowed its focus and is now on track to deliver even stronger performance and increased shareholder returns in the coming years.”
“Leading HanesBrands over the past five years has been an honor,” said Bratspies. “Since joining as CEO, working alongside our talented global team, we have significantly simplified and strengthened our business. HanesBrands today is a more consumer-centric global operating company better prepared and strategically positioned to leverage our brands, innovation, marketing, talent, and supply chain capabilities around the world. Our business is delivering more consistent top line growth, higher margins, and strong cash generation and has multiple levers to unlock shareholder value. I am proud of the actions we have taken, what this organization has achieved together, and how HanesBrands is ready for the future.”
Bratspies continued, “I look forward to working closely with the Board as it conducts a search to identify my successor. I am committed to continuing to lead our global team in delivering for our consumers and retail partners and advancing our growth initiatives.”
Fourth-Quarter and Full Year 2024 Results and Conference Call
In a separate press release issued today, HanesBrands announced results for the fourth-quarter and full-year 2024. The Company will host an investor conference call at 8:30 a.m. ET today, February 13, 2025.
To participate via telephone, please register in advance by clicking here or using this link:
https://register.vevent.com/register/BIf1103633125944b797acafd899af3816. The webcast of the conference call can be accessed via the investors section of the HanesBrands corporate website, www.hanes.com/corporate#ourco.
Cautionary Statement Concerning Forward-Looking Statements
This news release contains information that may constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements include all statements that do not relate solely to historical or current facts, and can generally be identified by the use of words such as “may,” “believe,” “could,” “will,” “expect,” “outlook,” “potential,” “project,” “estimate,” “future,” “intend,” “anticipate,” “plan,” “continue” or similar expressions. However, the absence of these words or similar expressions does not mean that a statement is not forward-looking. All statements regarding our business and the long-term goals and trends associated with our business and the expected timing and benefits of the planned management transition are forward-looking statements and are subject to risks and uncertainties that could cause actual results to differ materially from those implied or expressed by such statements. These risks and uncertainties include, but are not limited to, trends associated with our business; our ability to successfully implement our strategic plans, including our supply chain restructuring and consolidation and other cost savings initiatives; trends associated with our business; the rapidly changing retail environment and the level of consumer demand; the effects of any geopolitical conflicts (including the ongoing
About HanesBrands
HanesBrands (NYSE: HBI) is a global leader in manufacturing basics and Innerwear brands that are synonymous with comfort, quality, and value, and have been trusted by consumers around the world for generations. Among the company’s iconic brands are Hanes, the leading basic apparel brand in the
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News Media contact: Jonathan Binder (847) 732 4019
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Source: HanesBrands