VF Corporation Aligns with Engaged Capital and Appoints Caroline Brown to Board

Core Insights - VF Corporation has appointed Caroline Brown to its Board of Directors, effective February 14, 2024, following engagement with shareholders, including Engaged Capital [1] - The company plans to appoint an additional independent director in collaboration with Engaged Capital, aiming to enhance board diversity and expertise [1] - The board will consist of 13 directors post-Annual Meeting, with no more than 11 being current directors [1] Company Background - VF Corporation is a global leader in branded lifestyle apparel, footwear, and accessories, founded in 1899 [6] - The company connects people to lifestyles through iconic brands such as Vans®, The North Face®, Timberland®, and Dickies® [7] Caroline Brown's Experience - Caroline Brown has over 30 years of experience in the apparel and fashion sector, including roles as Managing Director at Closed Loop Partners and CEO of Donna Karan International [2][3] - She has a history of transforming brands, modernizing identities, and overseeing organizational changes [3] - Brown has served on various boards in the fashion industry and is involved with the MIT Sloan Sustainability Initiative [4] Board Refreshment Strategy - The appointment of Caroline Brown marks the addition of four new directors to the board in the past two years, enhancing expertise in footwear, apparel, retail, design, technology, and sustainability [5] - The board aims to leverage Brown's experience to support the company's turnaround strategy and improve performance [5]