MOSS ADAMS CAPITAL: Apparel and foowear market monitor highlights notable deals, stock prices and results.
Details on Industry Insight.
Reef President John Wilson is leaving the company. Here is the announcement that was sent to employees today.
Steve Murray, Vans president and head of VF's action sports group, shared the announcement with me after I learned about John's departure. He declined additional comment.
Here is the memo from Steve:
"I am writing to announce that John Wilson, President of Reef has decided to leave the company to pursue other interests. I would like to thank John for his contributions to Reef over the past 10 years, and wish him the very best in his future endeavors. Until a new President is named I will step in as interim President with the senior leadership team reporting to me. Reef has a dedicated and innovative team and I am confident in their collective ability to work together to achieve positive business results."
VF acquired Reef in 2005. The company has struggled in the past year as the economy slowed. In January, the company laid off a significant number of employees and opted to license its women's swimwear line and dresses to Raj Manufacturing.