HanesBrands appoints new chairman

HanesBrands announced on Friday the appointment of William Simon to the role of chairman of the board, effective December 31.

Simon’s appointment follows Ronald Nelson’s decision to retire as chairman and a member of the board at the end of the year.

Simon has been a director a the U.S. apparel firm since 2021 and has previously served on the talent and compensation committee and the governance and nominating committee.

He currently serves as executive advisor to the KKR & Co. investment firm and president of WSS Venture Holdings, a consulting and investment company, after having served as president and CEO of Walmart U.S. He brings extensive senior leadership skills and deep experience as a public company director at other consumer-facing companies, said the owner of Champion in a press release.

Coinciding with the appointment, Cheryl Beebe and Ann Ziegler will also retire as members of the board on December 31. These changes follow the appointment of three new independent directors, Colin Browne, Natasha Chand and John Mehas, last month and align with the company’s previously announced intent to return the board to 10 members.

“HanesBrands has been fortunate to benefit from the strategic leadership, operational expertise and financial acumen that Ron, Cheryl and Ann each brought to the board,” said Steve Bratspies, CEO and director, HanesBrands.

“They have made significant contributions to the company throughout their years of service. They served as valuable partners to me and our leadership team as we have developed and executed a strategy to capitalize on HanesBrands’ growth opportunities, simplify our global business and best position our brands for success in an evolving consumer environment. I look forward to working with Bill in his new role as chairman as we accelerate and continue to advance our strategic initiatives.”

In its most recent trading update in November, HanesBrands reported a 9.5% contraction in third-quarter sales to $1.51 billion, as the U.S. apparel firm’s Champion brand faced another tumultuous quarter, down 19% on the same period last year. ​