VF Corp Ropes In Logitech's Former Top Executive As New CEO
Portfolio Pulse from Lekha Gupta
VF Corp has appointed Bracken Darrell, former Logitech CEO, as its new President and CEO, effective July 17, 2023. Darrell will replace Benno Dorer, who served as Interim President and CEO since December 2022. VF Corp reported a Q4 FY23 sales decline of 3% Y/Y to $2.74 billion, slightly beating the consensus of $2.73 billion.
June 20, 2023 | 1:33 pm
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NEUTRAL IMPACT
Former Logitech CEO Bracken Darrell has been appointed as the new President and CEO of VF Corp, effective July 17, 2023.
Bracken Darrell's appointment as the new President and CEO of VF Corp is not directly related to Logitech's current operations or performance. However, it highlights his successful tenure at Logitech, which may have a neutral impact on Logitech's stock price in the short term.
CONFIDENCE 80
IMPORTANCE 40
RELEVANCE 50
POSITIVE IMPACT
VF Corp appoints Bracken Darrell as new President and CEO, effective July 17, 2023. Q4 FY23 sales decline 3% Y/Y to $2.74 billion, slightly beating the consensus.
The appointment of Bracken Darrell, a former Logitech CEO, as the new President and CEO of VF Corp is a positive development for the company. His experience and leadership may help the company improve its performance. Additionally, the Q4 FY23 sales decline was less than expected, which could positively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100