VF Corporation appoints new CFO
Branded lifestyle apparel and footwear company VF Corporation has promoted Scott A. Roe, currently VP, controller and chief accounting officer, as CFO. Roe replaces SVP and CFO Robert K. Shearer, who announced plans to retire in March 2015, after 28 years with the company.
“Bob’s commitment to VF, our people, our shareholders and the consumers of our 30-plus brands is unsurpassed,” said Eric C. Wiseman, chairman, president and CEO of VF. “His focus is always on creating shareholder value through growth and an effective business model. Bob has the uncommon ability to be both strategic and execution-minded. Over the years he has been an outstanding partner to me and the rest of the VF management team around the world. While Bob is one of the most accomplished business leaders I have ever worked with, he is an equally successful leader of people. He has led the development of a global finance team that functions as business partners to brand leaders, while instilling a consistently high standard of financial discipline and performance.”
Shearer joined VF in 1986 as assistant controller and was promoted to VP, controller in 1994. He was named VP and CFO in 1998 and was elevated to SVP and CFO in 2005. In that role, he is responsible for leading VF’s global finance, tax, treasury, audit, accounting and controls, financial reporting, real estate, risk management, global business technology, investor relations, aviation and corporate communications organizations.
Roe joined VF in 1996 as an audit manager, and since that time has held multiple positions of increasing responsibility within the company’s finance organization. In 2012, Roe was promoted to VP of finance for VF Corporation, based in Greensboro, N.C., after serving as VP and CFO for VF International, which is headquartered in Switzerland. He was a key participant in building VF’s growing International platform.
Roe began his career as a senior auditor for Ernst & Young, serving Fortune 500 clients in the apparel, manufacturing and service industries. He then held several roles with Blue Circle and Alumax (now part of Alcoa), where he served as division controller prior to joining VF. Roe received a bachelor’s degree in accounting from the University of Tennessee in 1987, and earned his CPA license in 1990.
“Scott Roe brings strong leadership, insight and a deep understanding of VF’s financial model,” Wiseman said. “He has worked closely with Bob and the VF leadership team for many years. He is an active member of our operating committee and has helped to drive the financial success we’ve achieved. Scott is completely and uniquely qualified to succeed Bob.”
VF Corporation’s largest brands are The North Face, Vans, Timberland, Wrangler, Lee and Nautica.
Study: Deal sites could save consumers $5 billion during holidays
Austin, Texas – Based on previous savings experienced during the holiday season in 2013 and projected industry growth in 2014, U.S. shoppers have the opportunity to save more than $5 billion dollars by using deal and offer websites during the upcoming holiday season. According to a new study from RetailMeNot and Dr. Jason Abrevaya, Ph.D., economics department chair at the University of Texas at Austin, consumers have the potential to save more than $200 an hour while using RetailMeNot.com, or $34 in 10 minutes.
In addition, the study shows that more than 80% of shoppers turn to deal or offer websites and apps at some point during the holiday season. More than four-in-10 (44.1%) consumers said they used deal or offer websites for most or all holiday purchases. A mere 14.5% of shoppers surveyed said they did no holiday shopping online.
"Our research helps illustrate that U.S. consumers have meaningful savings opportunities when using digital offer sites and apps like RetailMeNot during the busy holiday shopping season,” said Jill Balis, senior VP, RetailMeNot Inc. “Five billion dollars in savings helps consumers buy that extra gift for their family or helps them afford to take a trip home to spend the holidays with loved ones.”
Lumber Liquidators elevates chief compliance and sustainability officer
Lumber Liquidators has promoted Ray Cotton to SVP, chief compliance and sustainability officer. Cotton will continue to report directly to president and CEO Robert Lynch.
Cotton, who most recently served as VP, chief compliance and sustainability officer, will lead the company’s strategic quality and sustainability initiatives as well as its environmental outreach activities. In addition, he will be responsible for developing and overseeing the company’s sourcing and product compliance policies. He has extensive leadership experience in cyber and physical security, loss prevention, global audit and crisis management at various organizations, including Riverbed Technology, Facebook, Orchard Supply Hardware, TJ Maxx and Target.
"We are extremely pleased to announce Ray's promotion as he has been integral in our ongoing investment in quality and commitment to responsible sourcing,” said Lynch. “Quality is a key component of our value proposition and Ray is the right person to lead the team of professionals we employ around the world who are dedicated to quality control. We look forward to his leadership to foster our company's ongoing responsible sourcing efforts and deliver high quality flooring for our customers."