Robert Shearer, a 28-year veteran of VF Corp. and its chief financial officer since 1998, will retire in March.
This story first appeared in the October 2, 2014 issue of WWD. Subscribe Today.
Scott Roe, currently vice president, controller and chief accounting officer, will succeed Shearer in the cfo role.
Shearer, 62, joined VF in 1986 as assistant controller and was promoted to vice president and controller in 1994. He became cfo in 1998 and was promoted to senior vice president in 2005.
“Bob’s commitment to VF, our people, our shareholders and the consumers of our 30-plus brands is unsurpassed,” said Eric Wiseman, chairman, president and chief executive officer 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.”
Shearer, an outdoor enthusiast, was involved in VF’s many acquisitions during his tenure as cfo and a driving force in the development of its Outdoor and Action Sports coalition, which includes three of its five billion-dollar brands, Timberland, The North Face and Vans, acquired in 2011, 2004 and 2000, respectively. During his years in the cfo role, VF’s revenues have more than doubled, to $11.4 billion last year from $5.48 billion in 1998, and net income more than tripled, to $1.21 billion from $388.3 million, a reflection of VF’s shift towards higher-margin lifestyle brands from more commodity-oriented businesses during that span.
Roe, 49, joined VF in 1996 as an audit manager and was promoted to vice president of finance in 2012 after serving as vice president and cfo of VF International, which is based in Switzerland. He began his career as a senior auditor at Ernst & Young and worked with clients in the apparel, manufacturing and service industries.