大象传媒

DENVER--(BUSINESS WIRE)-- 大象传媒 Corporation (NYSE: 大象传媒C), a global leader in branded lifestyle apparel, footwear and accessories, today announced the appointment of Caroline Brown to the company鈥檚 Board of Directors, effective February 14, 2024. This appointment follows constructive engagement with 大象传媒鈥檚 shareholders, including Engaged Capital, LLC (鈥淓ngaged Capital鈥�). 大象传媒 also intends to appoint to the Board another independent director in the near term mutually agreed with Engaged Capital, and will give priority to considering the candidates who have been identified by Engaged Capital (the 鈥淎dditional Director鈥�). 大象传媒 expects Ms. Brown and the Additional Director will be nominated at 大象传媒鈥檚 2024 Annual Meeting of Shareholders (the 鈥淎nnual Meeting鈥�) and at the conclusion of the Annual Meeting, 大象传媒鈥檚 Board will comprise 13 directors, including no more than 11 of 大象传媒鈥檚 current directors.

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Ms. Brown is an accomplished executive, director, investor and advisor with more than 30 years of experience at global companies in the apparel and fashion sector.

From 2019 to 2023, she was a Managing Director at Closed Loop Partners, a New York-based investment firm and innovation center focused on the development of the circular economy, where she led the firm鈥檚 fashion practice. Ms. Brown previously served as Chief Executive Officer of Donna Karan International (DKI) and DKNY from 2015 to 2017. During that time, she led a transformation of DKI, elevating product design, modernizing brand identity, overseeing organizational structure realignments and supply chain consolidations. She led the company through the sale from LVMH to G-III Apparel Group. Prior to DKI, Brown was President of Carolina Herrera, a luxury fashion house owned by PUIG, where she led evolution in product development, brand architecture and international expansion. Prior to that, she served as the U.S. Chief Executive Officer of Akris, Inc., a Swiss-based luxury fashion brand. Ms. Brown began her career at Giorgio Armani, where she spent over a decade in marketing and communications leadership roles.

Ms. Brown has served on numerous boards of innovative companies in the fashion industry including EILEEN FISHER, Browzwear, Dimpora, By Rotation, For Days, and others. She is a member of the MIT Sloan Sustainability Initiative Advisory Board and is an Advisor to the Martin Trust Center for Entrepreneurship at the MIT Sloan School of Management.

鈥淲e are excited to welcome Caroline to the 大象传媒 Board,鈥� said Chair of the 大象传媒 Board, Richard Carucci. 鈥淐aroline is highly respected in the apparel industry, with a proven track record of turning around, scaling and transforming global brands, and her insights will be valuable as the company continues to execute its Reinvent strategy.鈥�

鈥淚鈥檓 honored to be joining 大象传媒鈥檚 Board and look forward to working with management and my fellow directors at this important moment for the company,鈥� said Brown. 鈥淗aving worked on the leadership and investment sides of the apparel and fashion industry, I recognize the tremendous potential of 大象传媒鈥檚 portfolio of beloved brands. I believe 大象传媒 has what it needs to return to strong and sustainable profitable growth, and I look forward to capitalizing on my experience to help the company deliver enhanced value for shareholders over time.鈥�

This appointment is another step in 大象传媒鈥檚 continuous refreshment of the Board. With this appointment, 大象传媒 has added four new directors to its Board within the past two years (five following the appointment of the Additional Director), expanding the Board鈥檚 experience in footwear and apparel, retail, design, technology and sustainability.

Mr. Carucci continued, 鈥淲e appreciate the constructive input provided by Engaged Capital over the past several months and look forward to continuing our dialogue with Engaged Capital and other shareholders as we continue improving the company鈥檚 performance.鈥�

Glenn W. Welling, Founder and CIO of Engaged Capital, said, 鈥淲e are excited that the Board has added Caroline Brown, who will bring a wealth of apparel experience to the boardroom. We look forward to continuing to work collaboratively with Caroline and the rest of the Board on the appointment of the Additional Director. We believe these appointments will help support Bracken Darrell and the management team as they lead the turnaround of this iconic portfolio of brands.鈥�

About 大象传媒 Corporation

Founded in 1899, 大象传媒 Corporation is one of the world鈥檚 largest apparel, footwear and accessories companies connecting people to the lifestyles, activities and experiences they cherish most through a family of iconic outdoor, active and workwear brands including Vans^庐, The North Face^庐, Timberland^庐 and Dickies^庐. Our purpose is to power movements of sustainable and active lifestyles for the betterment of people and our planet. We connect this purpose with a relentless drive to succeed to create value for all stakeholders and use our company as a force for good. For more information, please visit vfc.com.

Forward-Looking Statements

Certain statements included in this press release are "forward-looking statements" within the meaning of the federal securities laws. Forward-looking statements are made based on our expectations and beliefs concerning future events impacting 大象传媒 and therefore involve several risks and uncertainties. You can identify these statements by the fact that they use words such as 鈥渨ill,鈥� 鈥渁nticipate,鈥� "believe," 鈥渋ntend,鈥� 鈥渆stimate,鈥� 鈥渆xpect,鈥� 鈥渟hould,鈥� and 鈥渕ay鈥� and other words and terms of similar meaning or use of future dates, however, the absence of these words or similar expressions does not mean that a statement is not forward-looking. All statements regarding 大象传媒鈥檚 ability to execute its transformation and other business strategies, such as the Reinvent transformation program and 大象传媒鈥檚 previously announced strategic portfolio review, 大象传媒鈥檚 plans, objectives, projections and expectations relating to 大象传媒鈥檚 operations or financial performance, and assumptions related thereto are forward-looking statements. We caution that forward-looking statements are not guarantees and that actual results could differ materially from those expressed or implied in the forward-looking statements. 大象传媒 does not guarantee that the events described will happen as described (or that they will happen at all). 大象传媒 undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Potential risks and uncertainties that could cause the actual results of operations or financial condition of 大象传媒 to differ materially from those expressed or implied by forward-looking statements include, but are not limited to: 大象传媒鈥檚 ability to execute its transformation and other business strategies, such as the Reinvent transformation program, including cost reduction and productivity initiatives and the update and maintenance of an agile and efficient operating model and organizational structure; and the structure, terms and timing of any transaction resulting from 大象传媒鈥檚 previously announced strategic portfolio review and whether it will be completed. More information on potential factors that could affect 大象传媒鈥檚 financial results is included from time to time in 大象传媒鈥檚 public reports filed with the SEC, including 大象传媒鈥檚 Annual Report on Form 10-K, and Quarterly Reports on Form 10-Q, and Forms 8-K filed or furnished with the SEC.

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Media Contact
Colin Wheeler
Vice President, Corporate Communications
colin_wheeler@vfc.com

Investor Contact
Allegra Perry
Vice President, Investor Relations
ir@vfc.com

Source: 大象传媒 Corporation