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Hanesbrands ropes in Stephen Bratspies as new CEO

 
 

Innerwear company, Hanesbrands has appointed Stephen B Bratspies new CEO and board member. Bratspies was earlier the chief merchandising officer at Walmart where he oversaw merchandizing transformation initiatives. His résumé, which spans more than 25 years in the retail and consumer sectors, also includes stints at PepsiCo’s Frito-Lay North America and as a management consultant with AT Kearney.

Parent to brands such as Hanes, Bali, Playtex, Maidenform, L’eggs and Wonderbra, among others, Hanesbrands began its search for new CEO in March when current CEO Gerald W Evans Jr announced his retirement after 37 years in the company. Evans, who helped Champion brand’s growth to nearly $2 billion in annual sales and expanded the distribution of Hanes socks and L’eggs hosiery to Dollar General stores nationwide during his time as CEO, will remain as an adviser until his retirement in January 2021.

Meanwhile, Hanesbrands has temporarily closed 1,200 brand stores in the US, Europe and Australia to prevent the spread of COVID-19. Hence, the company’s top and bottom lines suffered during the quarter ended March 28. In April, Hanesbrands furloughed approximately 5,800 of its roughly 63,000 associates to help curb losses.

 
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