Levi’s Appoints Skechers Finance Chief John Vandemore as New CFO

Levi Strauss & Co. (NYSE: LEVI), the iconic American apparel company renowned for its denim heritage, announced on March 11, 2024, that John Vandemore will assume the critical role of Chief Financial Officer (CFO), effective April 15, 2024. This significant leadership transition sees Vandemore stepping into the financial helm from Skechers U.S.A., Inc. (NYSE: SKX), a global leader in the footwear industry, where he also held the position of CFO. His appointment is a direct consequence of the planned retirement of Harmit Singh, who has served as Levi’s CFO since 2012 and is scheduled to step down in April. Singh's extensive tenure at Levi's has spanned over a decade, during which the company navigated a period of considerable market evolution, including the seismic shifts brought about by the digital revolution and changing consumer preferences. His leadership oversaw the implementation of strategic initiatives designed to foster long-term growth and enhance profitability in a highly competitive global apparel market.

Vandemore brings a wealth of financial leadership experience to Levi’s, cultivated through senior financial roles at various organizations. His most recent position at Skechers, a company that has experienced substantial global expansion, provided him with direct experience in managing the financial intricacies of a large, international consumer goods business. At Levi’s, Vandemore's responsibilities will be comprehensive, encompassing the oversight of all financial operations. This includes strategic financial planning and analysis, accurate financial reporting to stakeholders, managing investor relations to maintain confidence and transparency, and making critical decisions regarding capital allocation to support the company's strategic priorities. The objective of this leadership change is to ensure a seamless continuation of Levi's established financial strategy while simultaneously harnessing Vandemore's distinct expertise to drive the company's ongoing business objectives forward.

Levi’s, a publicly traded entity with a rich history dating back to 1853, is globally recognized for its enduring denim products, including the legendary 501 jeans. In recent years, the company has placed a strategic emphasis on expanding its direct-to-consumer (DTC) channels, aiming to build stronger relationships with its customer base and capture higher margins. Concurrently, Levi's has been investing significantly in enhancing its digital presence and e-commerce capabilities to meet the evolving demands of modern retail. The company's financial health and its ability to make astute strategic investments are paramount to maintaining its competitive edge and market leadership within the dynamic and fast-paced apparel industry. Vandemore's financial acumen is anticipated to be instrumental in guiding Levi's through future financial complexities, such as managing intricate global supply chains, navigating volatile currency fluctuations, and adapting to the ever-changing landscape of consumer spending habits. The leadership team at Levi's has expressed strong confidence in Vandemore's capacity to contribute significantly to the company's sustained success and its commitment to robust financial stewardship and shareholder value. To ensure a smooth and effective transition, Harmit Singh will remain with Levi’s in an advisory capacity until the end of June, facilitating the comprehensive handover of his responsibilities to Vandemore.