The American textile group of Hanesbrand Inc. has to look for a new boss. On Thursday, the company announced that CEO Steve Bratspies would put his post down at the latest at the latest. If a successor should be found beforehand: the change of leadership could also be carried out earlier.
The group said that he had already started a “comprehensive search” and was involved in the renowned Executive Search company Spencer Stuart as support. Bratspies, which has headed the group of companies since 2020, will also leave the Board of Directors at the end of his term as CEO, according to a message. However, he will be in an advisory capacity to the company afterwards to ensure a smooth change of staff.
In 2024 the group must accept a decline in sales and a higher loss
The group also published its current results for the 2024 financial year, which was completed on December 28th. Accordingly, the group turnover was $ 3.51 billion (3.36 billion euros), which meant a decline of 3.6 percent compared to the previous year. On an organic basis, the proceeds declined by 1.1 percent.
The operational result shrank by $ 30.2 percent to $ 185.9 million, not least due to the high disposal of the comprehensive restructuring of the group. Millions of euros).
Management hopes for the effects of the restructuring measures
The outgoing CEO roasting pies was satisfied with the current results. “We delivered a strong fourth quarter and a strong year and exceeded our expectations for all important key figures,” he said in a statement and emphasized that the effects of the comprehensive transformation program clearly had an effect. “We are going into 2025 as a new company,” emphasized Bratspies.
For the current year 2025, the company predicted sales from continued business areas in the range of 3.47 to $ 3.52 billion. The target area for the operational profit, which is adjusted for special effects from continued business areas, is between $ 450 and $ 465 million.