(Filed Under wholesale Lingerie News). HanesBrands will elevate Gerald Evans Jr. to CEO with current CEO and chairman Richard Noll assuming the new role of executive chairman, both moves effective October 1, 2016.

Evans was appointed to the company’s board of directors immediately prior to the announcement, expanding the Hanes board to 11 members.

The company noted that “Noll and Evans each have held leadership positions at Hanes spanning more than 30 years and have guided the company to become the world’s largest basic apparel company in the nearly 10 years since its 2006 spinoff into an independent publicly traded company.”

Said Noll, “The past decade has been a phenomenal journey, and I am very proud of the amazing accomplishments of our 65,000 employees. This is the perfect time to transition our leadership.”

Stated director Ronald Nelson, “Under Rich’s leadership, the company has increased its annual sales from $4 billion to $6 billion, grown EPS at a compounded rate of 20 percent per year, and quintupled shareholder value from $2 billion to $10 billion.”

Evans, who joined the company in 1983, has been chief operating officer since 2013. During his tenure, the company noted, “Hanes has strengthened its world-class brands through the company’s Innovate-to-Elevate initiative, created a low-cost global supply chain that spans the Western Hemisphere and Asia, and has overseen acquisition integrations, including Gear for Sports, Maidenform, Knights Apparel and Hanes Innerwear Europe.”

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Published 06-13-2016 by -