Kontoor Brands appoints new chief financial officer
Kontoor Brands, the parent company of Wrangler and Lee, has appointed Joe Alkire as its new chief financial officer.
He will succeed Rustin Welton who has decided to retire from Kontoor after four years with the business.
Alkire will join Kontoor from BrüMate, a private equity-backed consumer products company, where he held the dual role of chief operating officer and chief financial officer. Prior to that, he served as the vice president, corporate development, treasury, and investor relations at VF Corporation, the owner of The North Face, Vans and Timberland.
Due to take up his new position on 31 August, Alkire will be a member of Kontoor’s executive leadership team and will report to president, chief executive and chair of the board, Scott Baxter.
Baxter said: “Joe’s extensive experience in all aspects of corporate finance makes him well-suited to help lead us through the next phase of our strategic priorities including driving consistent operating results and total shareholder returns for Kontoor.
“Joe’s background in our industry and with successful, disruptive brands will help Kontoor continue toward sustained and profitable long-term growth. I am confident that Joe is the right leader and strategic business partner as we focus on Kontoor’s next chapter of accelerated growth.”
To ensure a smooth transition, Welton will continue at Kontoor in an advisory position until the end of the year.
Baxter added: “I want to congratulate Rustin on his retirement and express my gratitude for his partnership and expert counsel that have been invaluable since Kontoor’s inception and integral to our success
“The strategic actions taken under his leadership have greatly improved the company’s balance sheet and established a solid foundation for future growth. His contributions to our business and success cannot be overstated and have been essential to putting us in a position of strength. We wish him all the best in his next chapter of life.”
