UNITED STATES
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FORM
CURRENT REPORT
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| Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On December 8, 2020, the Board of Directors of Hanesbrands Inc. (the “Company”) increased the number of members of the Board of Directors from eight to nine and elected Cheryl K. Beebe to serve as a director of the Company. The election of Ms. Beebe is effective immediately, and she will serve until the Company’s next annual meeting of stockholders and until her successor is elected and qualified, or until her resignation or removal. Ms. Beebe will serve as a member of the Audit Committee.
Ms. Beebe’s compensation will be consistent with the Company’s previously disclosed standard compensatory arrangements for non-employee directors, which are described in the Company’s most recent proxy statement filed with the Securities and Exchange Commission on March 16, 2020, under the heading “Director Compensation.” With respect to her compensation for services on the Board of Directors during 2020, Ms. Beebe will not receive a grant of restricted stock units and her cash compensation for 2020 will be prorated to reflect the commencement date of her Board service.
Other than the standard compensation arrangements described above, there are no arrangements or understandings between Ms. Beebe and any other person pursuant to which she was elected as a director. The Company is not aware of any transaction with Ms. Beebe that would require disclosure under Item 404(a) of Regulation S-K.
The press release issued by the Company announcing Ms. Beebe’s election is furnished as Exhibit 99.1 and is incorporated herein by reference.
| Item 9.01. | Financial Statements and Exhibits |
(d) Exhibits
| Exhibit 99.1 | Press Release dated December 9, 2020 | |
| Exhibit 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| December 9, 2020 | HANESBRANDS INC. | |||||
| By: | /s/ Joia M. Johnson | |||||
| Joia M. Johnson | ||||||
| Chief Administrative Officer, General Counsel and Corporate Secretary | ||||||
Exhibit 99.1
| news release |
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| News Media Contact: | Kirk Saville (336) 519-6192 | |
| Analysts and Investors Contact: | T.C. Robillard (336) 519-2115 | |
HANESBRANDS APPOINTS CHERYL K. BEEBE TO BOARD OF DIRECTORS
WINSTON-SALEM, N.C. – (Dec. 9, 2020) – HanesBrands (NYSE: HBI), a leading global marketer of branded everyday basic apparel, today announced that financial executive Cheryl K. Beebe has been appointed to the company’s Board of Directors.
With the appointment of Beebe, whose term runs until the 2021 annual meeting of stockholders, the HanesBrands Board has nine members. Beebe will serve on the Board’s audit committee.
“Cheryl brings extensive experience in global strategy and a deep background in all aspects of financial operations,” said Steve Bratspies, chief executive officer, HanesBrands. “Her knowledge will be particularly valuable as we build our strategy to unlock long-term growth and put the consumer at the center of everything we do.”
Beebe’s prior leadership experience includes a decade as executive vice president and chief financial officer of Ingredion, a leading global ingredients solutions provider, where she was responsible for all aspects of the company’s financial operations. Beebe also had responsibility for the global IT and procurement functions and played a key role in setting the strategic direction of the company.
In more than 30 years with Ingredion, Beebe held a number of other leadership positions in the company, including senior advisor to the CEO, vice president finance and corporate treasurer. She is a current member of the board of directors of Packaging Corporation of America (PKG) and The Mosaic Company (MOS). She also serves as a member and chair of the Board of Trustees for Goldman Sachs Asset Management GSTII funds and a member of the Board of Trustees of Fairleigh Dickinson University, New Jersey’s largest private university.
“We’re pleased to have a leader with Cheryl’s record of financial leadership and strategic insight join the team,” said Chairman of the Board Ronald L. Nelson. “We welcome Cheryl and look forward to her contributions and leadership as we transform HanesBrands.”
Beebe holds a bachelor’s degree in accounting from Rutgers University and a master’s degree in business administration from Fairleigh Dickenson University.
HanesBrands Appoints Cheryl K. Beebe to Board of Directors
HanesBrands
HanesBrands, based in Winston-Salem, N.C., is a socially responsible leading marketer of everyday basic innerwear and activewear apparel in the Americas, Europe, Australia and Asia-Pacific. The company sells its products under some of the world’s strongest apparel brands, including Hanes, Champion, Bonds, Maidenform, DIM, Bali, Playtex, Bras N Things, Nur Die/Nur Der, Alternative, L’eggs, JMS/Just My Size, Lovable, Wonderbra, Berlei and Gear for Sports. The company sells T-shirts, bras, panties, shapewear, underwear, socks, hosiery, and activewear produced in the company’s low-cost global supply chain. A Fortune 500 company and member of the S&P 500 stock index (NYSE: HBI), Hanes has approximately 63,000 employees in more than 40 countries. For more information, visit the company’s corporate website at www.Hanes.com/corporate and newsroom at https://newsroom.hanesbrands.com/. Connect with the company via social media: Twitter (@hanesbrands), Facebook (www.facebook.com/hanesbrandsinc), Instagram (@hanesbrands), and LinkedIn (@Hanesbrandsinc).
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HanesBrands Appoints Cheryl K. Beebe to Board of Directors
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