VF Corporation has named Benno Dorer, Lead Independent Director of the VF Board of Directors, as Interim President and CEO, effective immediately. He replaces retiring Chairman, President and CEO Steve Rendle and will hold the role while VF searches for a permanent successor.
Dorer joined the VF Board in 2017 and has served as the Lead Independent Director since 2021. He also has held top positions at Clorox, including COO from January 2013 through November 2014 and as CEO from November 2014 to September 2020. Prior to joining Clorox in 2005, he worked for Procter & Gamble in various marketing and sales roles.
“VF has iconic brands in attractive growth categories, deep relationships with consumers and customers, and significant competitive advantages as a portfolio company,” said Dorer in a statement. “I look forward to working closely with the Board and VF’s Executive Leadership Team to drive profitable growth across our portfolio while the Board identifies the right leader for the company’s next chapter.”
Dorer will take the reins at VF as the retailer prepares for a challenging 2023. Lower-than-expected consumer demand in North America led the company to reduce its expected revenue growth for the second half of the year to 3% to 4%, compared to the previous projection of 5% to 6%.