lululemon athletica inc with change in management
lululemon athletica inc announced on November 9, 2017 that Lee Holman, Executive Vice President and Creative Director, has resigned for personal reasons. Holman will remain with the company until December 31, 2017.
“Over the last three years we’ve returned to being a design-led organization fuelled by innovation, at the intersection of function and fashion. We are thankful for Lee’s contribution during this journey. We’ve developed deep bench strength across the product organization and are excited to realize the powerful opportunities ahead of us as we connect with a growing collective of guests living an active, mindful lifestyle,” said lululemon CEO, Laurent Potdevin.
Potdevin added: “The strength of our performance reinforces our leadership in the market we created. I’m energized by the momentum in our business as we enter the holiday season and look forward to sharing the details of our third quarter performance and fourth quarter outlook on December 6th, 2017.”
lululemon athletica inc. is a healthy lifestyle inspired athletic apparel company for yoga, running, training, and most other sweaty pursuits, with products that create transformational experiences for people to live happy, healthy, fun lives. Setting the bar in technical fabrics and functional designs, lululemon works with yogis and athletes in local communities for continuous research and product feedback.
Helmes to Retire as Executive Director of SOCMA’s Association Management Services
Longtime SOCMA leader to step down at end of 2017
The Society of Chemical Manufacturers and Affiliates (SOCMA) announced on November 9, 2017 that Dr C. Tucker Helmes will retire after almost 30 years from his role as Executive Director of its Association Management Services (AMS) effective December 31, 2017.
SOCMA’s Association Management Services division is comprised of affiliated trade associations, professional societies and educational foundations that address issues of common interest to the chemical industry.
“We want to thank Dr Helmes for his many years of dedicated service to AMS and the many member companies he has supported,” said Jennifer Abril, SOCMA President and CEO. “During his tenure, Dr Helmes has helped to not only grow the organization but has also formed associations and developed strategic alliances on behalf of the industry. His service has truly been invaluable to our organization and the chemical industry, and we wish him all the best as he embarks on this new chapter of his life.”
“I am proud of the direction AMS has taken during my tenure,” Helmes said. “The work of our affiliate groups is significant, not only to the organisations they represent but also to the entire chemical value chain.”
Helmes came to the association when he was hired as Executive Director of SOCMA affiliate ETAD North America in 1988. In his role at ETAD, Helmes directed key studies with the Environmental Protection Agency and other organizations, including work on the well-known High Production Volume (HPV) challenge, among a host of other accomplishments. He later took over management of SOCMA’s Association Management Services, where he also leads the Center for Baby and Adult Hygiene Products (BAHP) and Institute for Polyacrylate Absorbents (IPA).
“I am leaving the association in the capable hands of current Senior Vice President of Association Management Services David Wawer,” Helmes said. Wawer is Executive Director of the Colour Pigments Manufacturers Association, also a SOCMA affiliate organization.
Although he is fully retiring from SOCMA, he will remain active in both an executive and technical capacity with ETAD North America, where he will work as a consultant.
The Society of Chemical Manufacturers and Affiliates (SOCMA) is dedicated to specialty chemical manufacturers, distributors and affiliated service providers.
LVMH Reshuffles Management, Shifting Sidney Toledano from Dior
In a sign that the turbulence that has significantly altered the luxury creative landscape in recent years has moved to the executive suites, LVMH Moët Hennessy Louis Vuitton, the world’s largest luxury group, has engaged in the fashion equivalent of a cabinet reshuffle.
Sidney Toledano, the man who built Christian Dior into a multibillion-dollar global powerhouse and shepherded it successfully through one of fashion’s biggest scandals, will be stepping down from the helm of the brand after leading it for almost 20 years. He will become Chairman and Chief Executive of the LVMH Fashion Group, the division that encompasses eight of the group’s smaller brands including Céline, Givenchy, Loewe, and Emilio Pucci. He will also join the LVMH executive committee. Pietro Beccari, the chief executive of Fendi, another brand in the LVMH stable, will become Chief Executive of Dior.
Pierre-Yves Roussel, the former head of LVMH Fashion Group and the architect of its evolution and expansion, is leaving that role after 10 years to become a special adviser to the LVMH chairman, Bernard Arnault.
The scale of the changes reflects the unrest in the wider industry, which was rebounding this year after a period of difficulty.
The pace of designer hirings and firings has increased to an extraordinary extent over the last two years; just last week Christopher Bailey, president and chief creative officer of Burberry, announced he was leaving the brand. Brexit-induced uncertainty and fears of violence have affected consumer shopping habits, and the scale of digital transformation has altered the retail landscape. The C.E.O. musical chairs point to a conviction that new points of view are necessary to identify the opportunities in the turmoil.
“This is the right moment for change,” Mr. Toledano, 66, said in a telephone interview. He added that when Arnault broached the subject of his moving to the Fashion Group, “I accepted before he had finished asking.”
“I look around and see people retiring, and that is something I hate,” Toledano added. “I was never bored at Dior, but it was time for a new direction. I believe in the luxury market — I don’t need to see analysis from consulting firms — and think we can catch more market share.”
Dior holds a special significance in both the group and the overall sector as the first luxury brand acquired by Arnault in 1985, and is the cornerstone of his empire.
Along with Arnault, Toledano, who joined Dior in 1994 as director of leather goods and was named chief executive in 1998, was the mastermind behind the transformation of the elite French fashion house into a worldwide phenomenon that became something of a strategic model for other luxury brands on how to bridge haute couture and haute pop culture.
During his tenure, Toledano oversaw the opening of almost 200 international stores, the growth of celebrity partnerships, the rise of the star designer, and the evolution of the fashion show into a major marketing initiative. His nearly two-decade stint was in contrast with those of most luxury-sector chief executives, who tended to change jobs more often than even their designers did.
Widely respected, Toledano wielded influence that has reached far beyond LVMH, through the ascension of a group of chief executives who once worked for him at Dior, including Michael Burke, the chief executive of Louis Vuitton; Claus-Dietrich Lahrs, the head of Bottega Veneta; Valérie Hermann, the president of global brands at Ralph Lauren, and Pierre Denis, the chief executive of Jimmy Choo.
Toledano also steered the Paris-based Dior through the transition to a new creative director after the firing of John Galliano. Mr. Galliano’s flamboyance and dramatic vision had helped to propel Dior out of fustiness and into relevance, but he was forced out in 2011 after a drug- and alcohol-fueled anti-Semitic outburst. He was replaced by Raf Simons, but Mr. Simons stayed only three years and was succeeded by Maria Grazia Chiuri, the brand’s first female designer.
The executive change comes at a crucial point for Dior: LVMH announced the purchase of Dior, which had previously been a sister brand under a shared holding company last April, and after a comprehensive retrospective of the fashion house opened at the Musée des Arts Décoratifs in Paris this past summer to mark its 70th birthday. The Dior merger, in particular, created a giant fashion and leather goods group with combined annual sales of more than 5 billion euros, or $5.8 billion, according to the Exane BNP Paribas analyst Luca Solca.
LVMH has consistently posted strong sales in what has proved to be a volatile global luxury goods market in recent years. Last month it reported higher-than-expected revenue growth for the third quarter, with like-for-like revenues, which strip out currency swings and acquisitions or disposals, growing 12 % from a year earlier to EUR 30.1 billion.
With Beccari, who helped build Fendi into the third-largest brand in the LVMH fashion and leather goods division, after Louis Vuitton and Dior, LVMH will be keeping its leadership in the family, while ensuring that smaller brands, many of which have been in flux, are given renewed attention.
Beccari’s appointment “signals a new era,” Arnault said in a statement.
“Sidney Toledano is the driving force behind the huge success of Christian Dior Couture around the world,” Arnault said. “I want to offer my profound gratitude and am delighted that we will continue to work together and benefit from his expertise.”
Toledano will have his hands full in his new role. Though sales at the fashion group have tripled over the last decade under Mr. Roussel, with most brands becoming profitable for the first time, currently, Emilio Pucci is searching for a designer; there are questions about whether Phoebe Philo, the feted creative director of Céline, will stay for much longer; and Marc Jacobs, which in 2013 was thought to be a possible candidate for an initial public offering, has struggled with a brand reorganization and management change.
Robert Burke, founder of an eponymous luxury consultancy, said: “This is a sign LVMH is getting serious about growing their smaller brand. A few of them, such as Céline and Givenchy, have the potential to be big global companies, and there is no one better suited to get them there than Sidney. He understands both the silhouette of a handbag and global strategy.”
“What I have learned from 20 years at Dior is you have to be pragmatic, concrete, listen to people a lot, and give guidance,” Toledano said of how he will approach his new role. “People want leadership.”
Beccari and Toledano are to assume their new posts next year. A replacement for Beccari has not been announced.
Covestro LLC announces upcoming leadership changes
Covestro LLC announced today that, effective Feb. 1, 2018, Jerry MacCleary, currently president and managing director of Covestro LLC and head of the Polyurethanes business unit in North America, will assume new responsibilities as chief executive officer and chairman of the board of Covestro LLC
– Jerry MacCleary named CEO, continues leadership at American Chemistry Council
– Haakan Jonsson to succeed MacCleary as president
– Christine Bryant to lead North American Polyurethanes business
MacCleary will be succeeded in his role as head of the Polyurethanes business unit by Christine Bryant, currently head of Coatings, Adhesives and Specialties.
Dr. Erik Haakan Jonsson, currently chief operating officer, will succeed MacCleary as president and managing director of Covestro LLC.
MacCleary, who currently represents Covestro as vice chairman of the board, a member of the Executive Committee and an officer at the American Chemistry Council (ACC), will become chairman of the ACC Executive Committee Jan. 1.
MacCleary joined Covestro (then part of Bayer) in 1979 as an accountant, before embarking on a diverse career path that included sales, marketing and strategic management roles throughout the United States and Germany. In 2004, MacCleary was named head of the North American Polyurethanes business unit – a role he maintained after becoming president of Covestro LLC in 2012.
MacCleary led Covestro’s North American business through its separation from Bayer AG and establishment as an independent company in 2015.
He has a strong history of leadership in the chemical industry. In addition to his roles at the ACC, MacCleary serves on the board of directors of the National Association of Manufacturers, the International Isocyanate Institute and the Center for the Polyurethanes Industry.
In Pittsburgh, which is home to Covestro’s North American headquarters, MacCleary serves on the board of directors of the Allegheny Conference on Community Development, the United Way of Southwestern Pennsylvania, Variety the Children’s Charity and the Imani Christian Academy. He also serves as a member of the board of trustees for the Children’s Hospital of Pittsburgh Foundation.
“I’m happy to continue my executive leadership role at Covestro,” MacCleary said. “At the same time, I am excited for the opportunity to make an even stronger contribution at ACC, which plays a critical role for Covestro and the entire chemical industry.
“I’ll be working to advance our industry leadership position at Covestro and, in conjunction with the ACC, promote industry issues, such as sustainability, innovation and safety. I’m also a Pittsburgher at heart and eager to continue my community service activities in this region.”
Bryant has led Covestro’s Coatings, Adhesives and Specialties (CAS) business in North America since 2012 and also leads the unit’s global key account business. She joined Covestro in 1989 and has held increasing roles in marketing, sales, distribution and business development throughout her career. A chemical engineer by training, Bryant’s focus has been on creating stronger relationships with customers and developing new business and markets within the CAS area. She is also an advocate for STEM education and an active community leader, working closely with the United Way of Southwestern Pennsylvania, as the current co-chair of the Women’s Leadership Council.
Jonsson joined Covestro in 1992 as a scientist in Pittsburgh. His career has led him throughout the United States and Germany, as he took on diverse roles in manufacturing, innovation, supply chain and business development. Jonsson has served on the board of directors of various chemical industry, community service and educational organizations. He is a chemical engineer and holds his Ph.D. in polymer technology.
“I’ve spent my entire career with Covestro and am incredibly proud of the people and culture we have today. The North American organization is no exception,” said Jonsson. “Under Jerry’s leadership, Covestro has built its reputation in this region as a strong, bold and innovative company. I’m grateful for the opportunity to support him in carrying the torch forward—and I’m glad to be back in Pittsburgh, the city I call home.”
Covestro LLC is one of the leading producers of high-performance polymers in North America and is part of the global Covestro business with 2016 sales of EUR 11.9 billion. Covestro manufactures high-tech polymer materials and develops innovative solutions for products used in many areas of daily life. The main segments served are the automotive, electrical and electronics, construction, medical and sports and leisure industries. The Covestro group has 30 production sites around the globe and employed approximately 15600 people at the end of 2016.
Carhartt promotes Tony Ambroza to newly created Chief Brand Officer Role
Ambroza Responsible for Continuing to Champion Carhartt’s Values and Storied Heritage by Delivering Complete Brand Experience that Inspires Hardworking People, Builds Recognition for the Company’s Rugged Products
Carhartt, America’s premium workwear brand since 1889, has promoted Senior Vice President of Marketing Tony Ambroza to a newly created senior leadership role, Chief Brand Officer. Ambroza will lead brand engagement across the entire consumer journey across critical touch points including TV commercials, social media, events, retail marketing, Carhartt’s Direct to Consumer (D2C) business and beyond to build an even deeper affinity between consumers and the Carhartt brand.
As Chief Brand Officer, Ambroza will continue to scale the brand’s reach by championing Carhartt’s meaning, purpose and values while fiercely preserving its storied heritage. Under his leadership, the fast-growing D2C business will deliver the ultimate brand experience to hardworking people by creating seamless, inspiring engagements between Carhartt, the products and the people that matter most to the brand: its consumers. On the marketing side, Ambroza will continue to amplify Carhartt’s celebration of hard work and the brand’s role in the lives of hardworking people all over the world by sharing their Carhartt experiences.
“Tony is a visionary marketer and retailer who has helped our 128-year-old company succeed in a new age of selling,” said Linda Hubbard, president and COO, Carhartt. “Tony has taken on increased leadership responsibilities within our marketing and direct to consumer teams and has demonstrated strong leadership, strategic expertise, and the ability to build strong teams that consistently exceed goals. We are recognizing Tony’s leadership excellence across multiple aspects of the Carhartt organization with the new role of Chief Brand Officer.”
Ambroza joined Carhartt in 2010 and his strong background in the apparel industry with extensive brand marketing experience have helped increase Carhartt’s brand awareness to its current all-time high. He has continued to build on the brand’s growth and momentum by widely sharing its brand story; Carhartt is a timeless, family-owned brand making authentic products for honest, hardworking, industrious people.
Over the past seven years, Ambroza and his team have expanded the brand across product categories, gender and generation, occupations from the trades to craftspeople to those who love the outdoors and those who work and live in the hottest and coldest climates on the planet. Carhartt’s authentic storytelling has allowed the brand to continually gain relevance with consumers of all ages as they see themselves in the real, hardworking people featured in Carhartt marketing.
Ambroza has scaled the D2C business by aligning it with the continually evolving marketing discipline to deliver a complete, 360 degree brand experience in service to hardworking people. Whether consumers are new to Carhartt and just discovering all that the brand has to offer, or are Carhartt loyalists who are looking for Carhartt’s newest product solutions, Ambroza and his team are focused on providing an authentic, unique and memorable brand experience for the country’s hardest-working men and women.
Prior to joining the Carhartt team, Ambroza worked at Under Armour, Inc. as well as at Nike, Inc.
Established in 1889, Carhartt is a global premium workwear brand with a rich heritage of developing rugged products for workers on and off the job. Headquartered in Dearborn, Michigan, with more than 5,000 associates worldwide, Carhartt is family-owned and managed by the descendants of the company’s founder, Hamilton Carhartt.
DICK’S Sporting Goods names new Chief Technology Officer
Paul Gaffney to Lead DICK’S Overall Technology Efforts
DICK’S Sporting Goods (NYSE: DKS) today announced Paul Gaffney has been named Chief Technology Officer, effective November 20. In this role, Gaffney will be responsible for the Company’s technology, including infrastructure, eCommerce platforms and new and evolving digital platforms.
“Paul is joining the Company at a critical time as we’re evolving every day through our digital transformation efforts,” said Edward W. Stack, Chairman & Chief Executive Officer. “Paul’s experience will make an immediate impact on the Company and we’re thrilled to welcome him to the DICK’S family.”
Gaffney joins DICK’S from The Home Depot, where he most recently served as the Senior Vice President of Information Technology, responsible for the organization’s software engineering, user-centred design and applications. While at The Home Depot, Gaffney was responsible for leading their digital revolution, inspiring the engineering team to deliver customer focused software to millions of customers and over 400,000 associates.
Paul Gaffney remarked, “I’m excited to join the DICK’S Sporting Goods team at this important time of focus and investment in technology as a key enabler to better communicate with and serve our customers.”
Throughout his career, Gaffney held a variety of senior leadership roles, most notably serving as President and Chief Executive Officer with AAA Northern California. He holds a bachelor’s degree in Computer Science from Harvard University and is a Henry Crown Fellow at the Aspen Institute.
Founded in 1948, DICK’S Sporting Goods, Inc. is a leading omni-channel sporting goods retailer offering an extensive assortment of authentic, high-quality sports equipment, apparel, footwear and accessories. As of October 28, 2017, the Company operated more than 715 DICK’S Sporting Goods locations across the United States, serving and inspiring athletes and outdoor enthusiasts to achieve their personal best through a blend of dedicated associates, in-store services and unique specialty shop-in-shops dedicated to Team Sports, Athletic Apparel, Golf, Lodge/Outdoor, Fitness and Footwear. Headquartered in Pittsburgh, PA, DICK’S also owns and operates Golf Galaxy and Field & Stream specialty stores, as well as DICK’S Team Sports HQ, an all-in-one youth sports digital platform offering free league management services, mobile apps for scheduling, communications and live scorekeeping, custom uniforms and FanWear and access to donations and sponsorships. DICK’S offers its products through a content-rich eCommerce platform that is integrated with its store network and provides customers with the convenience and expertise of a 24-hour storefront.
IMFC Chair Agustín Carstens tenders resignation
Agustín Carstens, Chair of the International Monetary and Financial Committee (IMFC), has formally resigned, effective December 1, 2017, as he steps down as Governor of the Banco de Mexico and assumes the position of General Manager of the Bank for International Settlements (BIS).
“I am grateful for Agustín’s service to the IMF and its membership, and commend him for his outstanding leadership and strong dedication to international cooperation,” IMF Managing Director Christine Lagarde said. “Under his chairmanship, the IMFC played a key role in providing advice and guidance to the IMF and the international community to help secure global economic and financial stability, and promote strong, sustainable, and inclusive growth. During his tenure, the IMFC also reaffirmed the critical role the IMF plays at the center of the international monetary and financial system.”
The selection process for a new chair will begin shortly. IMFC members will consult until a consensus on a new IMFC Chair is reached.
Carstens was appointed in March 2015 for a term of three years.
The International Monetary and Financial Committee
The 24-member IMFC, comprising finance ministers and central bank governors, is the primary advisory body of the IMF Board of Governors and deliberates on the principal policy issues facing the IMF. The IMFC meets twice a year—in the spring and at the time of the IMF-World Bank Annual Meetings. The Board of Governors resolution on the IMFC stipulates that its Chair is selected by the Committee to serve for such period as the Committee determines.
The IMFC advises and reports to the IMF Board of Governors on the supervision and management of the international monetary and financial system, including on responses to unfolding events that may disrupt the system. It also considers proposals by the Executive Board to amend the Articles of Agreement and advises on any other matters that may be referred to it by the Board of Governors. Although the IMFC has no formal decision-making powers, in practice, it has become a key instrument for providing strategic direction to the work and policies of the Fund.
The IMFC usually meets twice a year, at the Bank-Fund Annual and Spring Meetings. For each meeting, the Managing Director prepares a draft agenda that is discussed by the Executive Board, approved by the IMFC Chair, and formally adopted by the IMFC at the meeting. At the end of the meetings, the Committee issues a communiqué summarizing its views. These communiqués provide guidance for the IMF’s work program during the half year leading up to the next Spring or Annual Meetings.
The size and the composition of the IMFC mirrors that of the Executive Board. The IMFC has 24 members who are central bank governors, ministers, or others of comparable rank and who are usually drawn from the governors of the Fund’s 189 member countries. Each member country that appoints an Executive Director and each group of member countries that elects an Executive Director appoints a member of the IMFC. The group is currently chaired by Agustín Carstens, Governor of Banco de México, who was selected to head the Committee in March 2015. The IMFC operates by consensus, including on the selection of its chairman. While there are no formal rules on term limits, since 2007 IMFC chairmen have been appointed for a term of three years. A number of international institutions, including the World Bank, participate as observers in the IMFC’s meetings.
Coats announces new Non-Executive Director
Coats, the world’s leading industrial thread manufacturer and a major player in the Americas textile crafts market, announces that Hongyan Echo Lu (Echo) will join the Board as a Non-Executive Director, effective 1 December 2017. In addition, she will join the Remuneration Committee and the Nomination Committee
Echo has twenty years of global HR, operations and general management experience. She spent ten years at Tesco plc in a variety of senior leadership roles, including Asia HR Director, Chief Operations Officer, China and Property Director, UK/Ireland. Most recently, she was the Managing Director of Homebase Ltd as part of Home Retail Group plc. She started her career at Bristol-Myers Squibb, a global biopharmaceutical company, where she spent seven years in a series of HR roles, including two years as HR Director, China.
Echo has previously been a Non-Executive Director of Dobbies Garden Centres and also served as a Steering Committee Member of the Trestle Group Foundation, a non-profit organisation which supports women-led businesses in emerging economies.
Mike Clasper, Chairman, said: ‘I am delighted that Echo has agreed to join the Coats Board. Echo’s direct managerial experience of global companies operating in markets in Asia, particularly North East Asia, will bring very pertinent additional local and regional insight. She also has practical knowledge of empowering women entrepreneurs in emerging economies which will bring invaluable perspective to the Board.’
Echo has a Bachelor of Arts in International Economy and Finance from Fudan University, Shanghai and a Master of Science in Industrial Relations and Human Resources from West Virginia University. She is also a native Mandarin speaker.
Coats is the world’s leading industrial thread manufacturer and a major player in the Americas textile crafts market. At home in some 60 countries, Coats employs 19000 people across six continents. Revenues in 2016 were USD 1.5 billion.
Financial Transparency Coalition appoints Permanent Director
A veteran of the fiscal policy world, new appointee sees opportunity to push transparency issues
The Executive Committee of the Financial Transparency Coalition has appointed a new permanent Director. Sargon Nissan has succeeded Interim Director Savior Mwambwa, and was officially introduced at the 7th Financial Transparency Conference in Helsinki, Finland last month.
Nissan brings years of experience in fiscal policy to the Coalition, most recently as IMF and Finance Programme Manager at the Bretton Woods Project. Prior to that post, he held a variety of positions in the NGO sector and beyond, including stints at the New Economics Foundation, the Institute of Chartered Accountants in England and Wales, and the United Nations Development Programme in Syria.
“I’m truly excited to help realise the FTC’s goals, as this is such a critical time for our work,” said Nissan. “Starting in this role just as the Paradise Papers were revealed, and ahead of key talks in the European Union on beneficial ownership, means there’s much work to be done and I am looking forward to the challenge immensely.”
Acting CFO at KappAhl
Tommy Svensson has been appointed acting CFO of the Swedish clothier KappAhl Group effective from December 1, 2017 to April 2018. Tommy Svensson is an interim consultant with long working experience from roles such as CFO and more.
During the period of 1 December until April 2018, until new CFO Peter Andersson will claim his position, Tommy Svensson will lead the financial work of the KappAhl Group. Tommy Svensson was born in 1958 and has a B.Sc. in Business Administration and Audit. Tommy has many years of experience from qualified work in financial management out of strategic and operational perspectives. He is a consultant at TSS Consult & Invest AB with assignments relating to business development and development of finance and management functions and has previously worked for Vårdapoteket, Hemtex and Lindex among others.