HanesBrands Announces Planned Leadership Succession
HanesBrands (NYSE: HBI) announced that CEO Steve Bratspies will depart by the end of 2025 or upon the appointment of his successor. The Board has initiated a comprehensive search for the next CEO with Spencer Stuart leading the executive search. Bratspies will step down from the Board concurrent with his CEO departure but will remain in an advisory role to ensure a smooth transition.
During his five-year tenure, Bratspies led significant transformations including overhauling the company's operating model, completing the Champion business sale, and positioning HanesBrands as a global powerhouse in basics and innerwear. Under his leadership, the company has achieved more consistent top-line growth, higher margins, and strong cash generation.
Board Chairman Bill Simon praised Bratspies' transformative leadership through turbulent industry conditions and highlighted the company's improved positioning for stronger performance and increased shareholder returns.
HanesBrands (NYSE: HBI) ha annunciato che l'amministratore delegato Steve Bratspies lascerà entro la fine del 2025 o al momento della nomina del suo successore. Il Consiglio ha avviato una ricerca completa per il prossimo CEO, con Spencer Stuart che guida la ricerca esecutiva. Bratspies si dimetterà dal Consiglio in concomitanza con la sua partenza da CEO, ma rimarrà in un ruolo di consulenza per garantire una transizione fluida.
Durante il suo mandato di cinque anni, Bratspies ha guidato trasformazioni significative, tra cui la revisione del modello operativo dell'azienda, la conclusione della vendita del business Champion e il posizionamento di HanesBrands come un potere globale nel settore delle basi e della biancheria intima. Sotto la sua guida, l'azienda ha raggiunto una crescita più costante del fatturato, margini più elevati e una forte generazione di cassa.
Il presidente del Consiglio Bill Simon ha elogiato la leadership trasformativa di Bratspies attraverso condizioni industriali turbolente e ha evidenziato il miglioramento della posizione dell'azienda per prestazioni più forti e un aumento dei ritorni per gli azionisti.
HanesBrands (NYSE: HBI) anunció que el CEO Steve Bratspies dejará su cargo a finales de 2025 o al nombrar a su sucesor. La Junta ha iniciado una búsqueda exhaustiva para el próximo CEO, con Spencer Stuart liderando la búsqueda ejecutiva. Bratspies dejará la Junta al mismo tiempo que su salida como CEO, pero permanecerá en un rol de asesor para asegurar una transición suave.
Durante su mandato de cinco años, Bratspies lideró transformaciones significativas, incluyendo la revisión del modelo operativo de la empresa, la venta del negocio Champion y el posicionamiento de HanesBrands como una potencia global en lo básico y la ropa interior. Bajo su liderazgo, la empresa ha logrado un crecimiento más consistente en la parte superior, márgenes más altos y una fuerte generación de efectivo.
El presidente de la Junta, Bill Simon, elogió el liderazgo transformador de Bratspies en condiciones industriales turbulentas y destacó la mejor posición de la empresa para un rendimiento más fuerte y un aumento en los retornos para los accionistas.
HanesBrands (NYSE: HBI)는 CEO Steve Bratspies가 2025년 말까지 또는 그의 후임자가 임명될 때까지 퇴임할 것이라고 발표했습니다. 이사회는 다음 CEO를 위한 포괄적인 검색을 시작했으며, Spencer Stuart가 임원 검색을 이끌고 있습니다. Bratspies는 CEO로서의 퇴임과 동시에 이사회에서 물러나지만 원활한 전환을 보장하기 위해 자문 역할을 계속할 것입니다.
5년간의 재임 기간 동안 Bratspies는 회사의 운영 모델을 개편하고 Champion 사업 매각을 완료하며 HanesBrands를 기본 의류 및 속옷 분야의 글로벌 강자로 자리매김하는 등 중요한 변화를 이끌어냈습니다. 그의 리더십 아래 회사는 보다 일관된 매출 성장, 높은 마진 및 강력한 현금 창출을 달성했습니다.
이사회 의장인 Bill Simon은 불안정한 산업 환경 속에서 Bratspies의 변혁적 리더십을 칭찬하며, 회사의 성과 향상 및 주주 수익 증가를 위한 개선된 위치를 강조했습니다.
HanesBrands (NYSE: HBI) a annoncé que le PDG Steve Bratspies quittera ses fonctions d'ici la fin de 2025 ou lors de la nomination de son successeur. Le Conseil a lancé une recherche complète pour le prochain PDG, avec Spencer Stuart à la tête de la recherche exécutive. Bratspies quittera le Conseil en même temps que son départ en tant que PDG, mais restera dans un rôle consultatif pour garantir une transition en douceur.
Au cours de son mandat de cinq ans, Bratspies a dirigé des transformations significatives, notamment la révision du modèle opérationnel de l'entreprise, la vente de l'activité Champion et le positionnement de HanesBrands en tant que puissance mondiale dans les vêtements de base et les sous-vêtements. Sous sa direction, l'entreprise a atteint une croissance du chiffre d'affaires plus cohérente, des marges plus élevées et une forte génération de liquidités.
Le président du Conseil, Bill Simon, a salué le leadership transformateur de Bratspies dans des conditions industrielles turbulentes et a souligné la meilleure position de l'entreprise pour des performances plus fortes et un retour accru pour les actionnaires.
HanesBrands (NYSE: HBI) gab bekannt, dass CEO Steve Bratspies bis Ende 2025 oder bei der Ernennung seines Nachfolgers ausscheiden wird. Der Vorstand hat eine umfassende Suche nach dem nächsten CEO eingeleitet, wobei Spencer Stuart die Personalsuche leitet. Bratspies wird gleichzeitig mit seinem Ausscheiden als CEO aus dem Vorstand ausscheiden, bleibt jedoch in einer beratenden Rolle, um einen reibungslosen Übergang zu gewährleisten.
Während seiner fünfjährigen Amtszeit führte Bratspies bedeutende Transformationen durch, darunter die Überarbeitung des Betriebsmodells des Unternehmens, den Abschluss des Verkaufs des Champion-Geschäfts und die Positionierung von HanesBrands als globales Schwergewicht im Bereich Grundbekleidung und Unterwäsche. Unter seiner Führung hat das Unternehmen ein konsistenteres Umsatzwachstum, höhere Margen und eine starke Cash-Generierung erreicht.
Der Vorsitzende des Vorstands, Bill Simon, lobte Bratspies' transformative Führung in turbulenten Branchenbedingungen und hob die verbesserte Position des Unternehmens für eine stärkere Leistung und höhere Renditen für die Aktionäre hervor.
- Successfully completed sale of Champion business
- Achieved more consistent top-line growth and higher margins
- Improved cash generation performance
- Strengthened global position in basics and innerwear segments
- CEO departure creates leadership uncertainty
- Transition period could impact strategic execution
Insights
The announced CEO transition at HanesBrands represents a strategic inflection point following a period of significant transformation. Under Bratspies' tenure, the company executed three important strategic moves:
- Streamlined operations by divesting the Champion business to focus on core basics and innerwear
- Restructured the operating model to enhance efficiency and margin potential
- Strengthened the company's global basics portfolio, particularly with brands like Hanes, Bonds, and Maidenform
The timing of this announcement is particularly noteworthy, coming after the company has completed major restructuring initiatives but before their full benefits have materialized. This suggests the board is seeking a different skill set for the next phase of growth - likely someone who can optimize the streamlined operation rather than manage large-scale transformation.
The extended transition period through 2025 indicates a well-planned succession strategy, allowing time for thorough candidate evaluation while maintaining operational stability. This is especially important given HanesBrands' position as a global manufacturer with complex supply chain operations.
The market context for this transition is significant. The basics and innerwear segment faces evolving retail dynamics and shifting consumer preferences. The next CEO will need to balance operational excellence with consumer-centric innovation, particularly as the company aims to leverage its manufacturing capabilities while adapting to modern retail channels.
For investors, this transition period presents both opportunities and challenges. While the extended timeline provides stability, the search for a new CEO introduces strategic uncertainty. However, the company's improved financial metrics - including stronger margins and cash generation - provide a solid foundation for the incoming leader.
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
Analysts and Investors contact: T.C. Robillard (336) 519 2115
Source: HanesBrands
FAQ
When will HBI CEO Steve Bratspies leave the company?
Who is conducting the CEO search for HanesBrands (HBI)?
What major achievements occurred during Bratspies' tenure at HBI?
Will Steve Bratspies maintain any role with HBI after stepping down as CEO?
