VF Corporation Appoints Laurel Krueger as Vice President, General Counsel of Kontoor Brands, Inc.

Business Wire 14-Jan-2019 6:55 AM

VF Corporation (NYSE:VFC), a global leader in branded lifestyle apparel, footwear and accessories, today announced that Laurel Krueger has been named Vice President, General Counsel of Kontoor Brands, Inc., the independent, publicly traded company that will result from the previously announced separation of VF's Jeanswear organization.

In this role, Krueger will oversee Kontoor Brands' legal function, including compliance, mergers and acquisitions and corporate governance. She will serve on Kontoor Brands' Executive Management Team, reporting directly to named CEO Scott Baxter, effective immediately.

"Laurel is a seasoned legal executive with nearly 20 years of experience, including in the retail industry," Baxter said. "Her breadth of leadership experience with multinational corporations will be an asset to our team as we embark on our new journey as an independent company and grow our business in the denim and apparel categories."

Steve Rendle, Chairman, President and CEO of VF Corporation, added, "Extraordinary talent will be critical in establishing Kontoor Brands as a thriving independent organization, and Laurel is a great addition to the strong bench of leadership that has been appointed to date."

Krueger joins Kontoor Brands from Signet Jewelers Limited, the world's largest retailer of diamond jewelry, where she served as Executive Vice President, General Counsel and Corporate Secretary. She previously held a variety of legal leadership roles at publicly traded companies in retail and manufacturing, including Federal-Mogul Corporation, Tecumseh Products Company and Borders Group, Inc.

Krueger earned a bachelor's degree with high distinction from the University of Michigan-Dearborn. She earned a law degree from the University of Michigan Law School, and a Master of Business Administration with distinction from the University of Michigan-Dearborn School of Management.

The separation of VF's Jeanswear organization is expected to be completed in the first half of 2019, subject to final approval by the company's Board of Directors, customary regulatory approvals and tax and legal considerations. The new company will comprise the Wrangler®, Lee® and Rock & Republic® brands, and the VF Outlet business. For more information regarding the proposed separation, please visit TwoGlobalLeaders.com.

About VF

VF Corporation (NYSE:VFC) outfits consumers around the world with its diverse portfolio of iconic lifestyle brands, including Vans®, The North Face®Timberland®, Wrangler® and Lee®. Founded in 1899, VF is one of the world's largest apparel, footwear and accessories companies with socially and environmentally responsible operations spanning many geographies, product categories and distribution channels. VF is committed to delivering innovative products to consumers and creating long-term value for its customers and shareholders. For more information, visit www.vfc.com.

Forward-Looking Statements

Certain statements included in this release are "forward-looking statements" within the meaning of the federal securities laws. Forward-looking statements are made based on our expectations and beliefs concerning future events impacting VF and therefore involve several risks and uncertainties. You can identify these statements by the fact that they use words such as "will," "anticipate," "estimate," "expect," "should," "may," "believe," "intend," and "plan," and other words and terms of similar meaning or use of future dates. We caution that forward-looking statements are not guarantees and that actual results could differ materially from those expressed or implied in the forward-looking statements. Our forward-looking statements in this release speak only as of the date of this release. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. Unless required by law, we undertake no obligation to update publicly any forward-looking statements as a result of new information, future events or otherwise. Additional information about the company is contained in the company's filings with the SEC and is available on VF's website, www.vfc.com.

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