Hanesbrands Inc announced that Lee A. Chaden will retire from the company on Dec. 29, 2007. Chaden, who has served as executive chairman since April 2006, will serve as nonexecutive chairman of the board after his retirement.
Chaden, 65, joined the company in 1991 and served as chief executive officer from 2004 until his appointment as executive chairman to help prepare the organization for its September 2006 spinoff as an independent publicly traded company. His responsibilities included oversight of the creation and recruitment of the board of directors.
“Lee Chaden has had a tremendous career at Hanesbrands and is one of the finest, most knowledgeable and most respected executives in the apparel industry,” Hanesbrands Chief Executive Officer Richard A. Noll said.
“I had the extreme pleasure and honor of working side by side with Lee as we guided Hanesbrands into independence and set the strategies for competitive success. Hanesbrands has benefited greatly from Lee's leadership, passion, grace and insight. Fortunately, Lee will remain chairman of the Hanesbrands board of directors and will continue to help guide the company in that role.”
Chaden joined the organization in 1991 when Sara Lee Corporation, which previously owned Hanesbrands as an operating division, bought Playtex Apparel Inc. where Chaden served as president of the company's North American business. After leading Playtex to significant sales and profit growth under SaraLee ownership, Chaden held several leadership positions within the operating divisions of Sara Lee, including CEO of the company's European apparel business.
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