Maidenform Brands Inc. has appointed former Clorox Co. executive Karen M. Rose as chairman of the 85-year-old foundations company, succeeding Thomas J. Ward, who retired on Monday.
This story first appeared in the January 7, 2009 issue of WWD. Subscribe Today.
Rose was chief financial officer of the Clorox Co., which she joined in 1978 and where she served in a variety of executive posts, including director of finance of Clorox’s Household Products Co., vice president and treasurer, and group vice president and cfo.
She has been a director at Maidenform since January 2005 and will continue as chairman of Maidenform’s audit committee, as well as serving as a member of the compensation committee and the nominating and governance committee. Rose also is a board member at Bare Escentuals Inc.
“We are confident that she will assist in carrying out the company’s mission to drive greater shareholder value and success, and we are certain that she will make a major contribution to our future growth plans,” said Maurice S. Reznik, chief executive officer of Maidenform.
In the third quarter ended Sept. 27, Maidenform’s net income increased 8.6 percent to $8.4 million, or 36 cents a diluted share, from $7.8 million, or 32 cents a share. The results included 4 cents a share in start-up costs related to the licensing agreement for intimate apparel with Donna Karan and DKNY brands. Sales jumped 12.4 percent to $112.6 million, from $100.2 million.
In addition to the Maidenform brand and the new licensing deal with Donna Karan and DKNY, the Iselin, N.J.-based company produces, markets and distributes intimate apparel by Flexees, Lilyette, Control It, Luleh, Sweet Nothings, Rendezvous, Subtract, Bodymates, Self Expressions and Inspirations. Maidenform products are sold in about 60 countries and territories outside the U.S.