VF Realigns Executive Leadership to Drive Global Brand and Supply Chai

VF Realigns Executive Leadership to Drive Global Brand and Supply Chain Strategies

    Business Editors/Fashion Editors

    GREENSBORO, N.C.--(BUSINESS WIRE)--May 16, 2005--Mackey J. McDonald, Chairman and CEO of VF Corporation (NYSE: VFC), a leader in branded apparel, today announced broad-based organizational changes, with a more streamlined leadership structure designed to support the Company's long-term growth plans.
    The new organization, effective June 1, underscores VF's commitment to best-in-class global brand building, with a complete focus on achieving the highest level of innovation in our products and marketing, executed consistently across all brands. It also centralizes VF's supply chain functions, with a commitment to building the most flexible and efficient supply chain in the industry.
    Accordingly, Eric Wiseman, 49, has been promoted to Executive Vice President, Global Brands. He will be responsible for driving growth across all our key brands. Reporting to Wiseman will be the presidents of VF's Jeanswear, Intimates, Outdoor and Sportswear Coalitions, as detailed below. Also reporting to Wiseman will be Mike Gannaway, Vice President Customer Management. Under Eric's leadership, we will facilitate greater cooperation and cross-fertilization of best practices and capabilities across our brands, markets and customers to support organic growth and the addition of new brands. Since February of 2004, Wiseman has been serving as Vice President and Chairman of VF's Outdoor and Sportswear Coalitions.
    We also are consolidating all supply chain functions within a new Global Supply organization, under the leadership of George Derhofer, 51, who is promoted to Senior Vice President, Global Operations. In his new role, Derhofer will be responsible for leveraging VF's global supply chain capabilities for maximum speed, flexibility and efficiency. Manufacturing, sourcing, operations and information services/information technology functions will now be under the leadership of Derhofer's teams in the U.S. and Europe. He will continue to have responsibility for VF's Imagewear Coalition, which comprises our Occupational Apparel and Licensed Sports Apparel businesses, and will assume responsibility for our VF Outlet division. Since February of 2004, Derhofer has been serving as Vice President and Chairman of VF's Intimate Apparel and Imagewear Coalitions.
    Bob Shearer, 53, currently Vice President, Finance and Global Processes and Chief Financial Officer, has been named Senior Vice President and Chief Financial Officer. In addition to having responsibility for all financial processes and services, he will continue to direct all merger and acquisition activities. In addition, all coalition finance leaders will now report to him.
    John Schamberger, 56, will continue in his role as Vice President, Cross Coalition, directing cross coalition efforts relating to retail strategy and direct-to-consumer opportunities. He will be working closely with both Wiseman and Derhofer to promote seamless cross coalition cooperation in these areas.
    Stephen Dull, 46, who was named Vice President, Strategy in January of 2005, will continue to have responsibility for the identification of long-term-strategic growth initiatives and brand development. In addition, Ellen Rohde, who has been serving as President, Department/Chain/Specialty Brands, VF Intimates, has been named to a new position, Vice President - Brand Planning, reporting to Dull.
    We are also taking this opportunity to streamline other important support functions within VF. All coalition human resource leaders will now report to Susan L. Williams, Vice President, Human Resources and all legal resources will report to Candace Cummings, Vice President, Administration, General Counsel and Secretary.
    Wiseman, Derhofer, Shearer, Schamberger, Dull and Cummings will all continue to report to McDonald.
    McDonald also announced that Terry Lay, a 34-year veteran of VF who has been serving as Vice President and Chairman, Jeanswear Coalition and member of VF's Operating Committee, will be retiring this year. "Terry's contributions to VF over the years are immeasurable, and we will miss his leadership and vision," said McDonald.
    Following are additional details and reporting responsibilities related to the organizations described above.

    Global Brands Organization

    Reporting to Eric Wiseman will be the following Coalition Presidents:

--	Angelo LaGrega, President, Jeanswear Coalition - Americas
--	Aidan O'Meara, President, Jeanswear Coalition - Europe
--	Curt Holtz, President, Intimates Coalition
--	Mike Egeck, President, Outdoor Coalition - Americas
--	Karl Heinz Salzburger, President, Outdoor Coalition - International
--	Denise Seegal, President, Sportswear Coalition

    LaGrega, O'Meara and Holtz are assuming new roles within VF. LaGrega who is currently president of VF Jeanswear - Mass Brands, is assuming responsibility for our Mass Brands, Lee Brand, Western/Specialty, Earl Jean, Latin America, Canada and Mexico businesses. O'Meara will assume responsibility for our European Jeanswear business. Currently O'Meara serves as President, Sales and Marketing, International Jeanswear. Holtz, who is serving as President of VF Intimates - Mass Brands, will now have responsibility for all domestic and international intimates businesses. Denise Seegal, currently President and CEO of Nautica is named President of VF's Sportswear Coalition. She will continue to oversee and build our Nautica and Kipling U.S. businesses.

    Global Operations Organization

    Reporting to George Derhofer will be:

    -- Boyd Rogers, named Vice President, VF Corporation and
    President - Supply Chain

    -- Tim Wheeler, named President, Supply Chain - Europe and
    President, Jeanswear - Asia

    -- Ed Doran, President, Imagewear Coalition

    -- Steve Fritz, President, VF Outlet

    Under our new Global Operations organization, all sourcing, manufacturing, distribution, operations and IS/IT functions in North, South and Central America and Asia will report to Rogers, while still maintaining strong connectivity to our branded coalitions. Carlos Tejada, now serving as Vice President, Manufacturing and Sourcing, VF Jeanswear, has been named to a new position, Vice President, Manufacturing - Americas. Tejada will report to Rogers, as will Tom Glaser, Vice President, Global Sourcing and Managing Director - VF Asia and Tim Dye, Vice President, Distribution and the coalition operations leaders.
    Tim Wheeler will lead a similar organization in Europe, encompassing our Jeanswear, Intimates, Sportswear, and Outdoor businesses there. Wheeler will also continue to lead our Jeanswear initiatives in Asia. Since March 2000, Wheeler has been serving as President, Jeanswear - Europe and Asia.
    "This marks a new chapter in VF's continued evolution to becoming a more dynamic, efficient and faster growing company," noted McDonald. "By creating a simplified management structure with greater accountability on fewer leaders, we have put in place the organization that will redefine VF for years to come."

    About the Company

    VF Corporation is a leader in branded apparel including jeanswear, outdoor products, intimate apparel, image apparel and sportswear. Its brands include Lee(R), Wrangler(R), Riders(R), Rustler(R), Earl Jean(R), Vanity Fair(R), Vassarette(R), Bestform(R), Lily of France(R), Nautica(R), John Varvatos(R), JanSport(R), Eastpak(R), The North Face(R), Vans(R), Reef(R), Napapijri(R), Kipling(R), Lee Sport(R) and Red Kap(R).
    VF Corporation's press releases, annual report and other information can be accessed through the Company's home page, www.vfc.com.

--30--KS/ch*

CONTACT: VF Services, Inc. Cindy Knoebel, 336-424-6189 or 212-841-7141

KEYWORD: NORTH CAROLINA INDUSTRY KEYWORD: ADVERTISING/MARKETING APPAREL/TEXTILES RETAIL PRODUCT MANAGEMENT CHANGES SOURCE: VF Corporation

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