Vans Brand President Kevin Bailey to Step Down, Lead Overall VF Turnaround
Kevin Bailey is stepping down as Vans global brand president as parent VF Corp. looks to accelerate improvement in the footwear company’s business.
Bailey will continue to be a part of the executive leadership team and will lead VF’s Corp’s new turnaround strategy, called Reinvent.
Meanwhile, VF President and CEO Bracken Darrell, who joined in July, will oversee Vans during the search for a new brand president.
Bailey returned to Vans in March 2022, replacing Doug Palladini. Before Bailey’s return he had been serving as VF president of Asia-Pacific and emerging brands giving him experience seen as beneficial to informing the VF turnaround plan, Darrell told analysts Monday.
The leadership change comes as Vans continues to struggle in turning around its business, with the company’s revenue off 23% in constant currency to $748.8 million during the fiscal second quarter ended Sept. 30.
The lack of visibility on improvements in Vans, in addition to challenges in U.S. wholesale is expected to be a drag on the second half for VF causing the company to pull its full year guidance.
Read the Complete Report on VF Corp.’s Q2 Results:
- Vans Revenue Falls 23%; VF Announces Cost Cutting Plan
- Dickies Revenue Slides 9%
- VF Offers Supreme Update Amid Activist Investor Criticism of Deal
