Lee and Wrangler owner Kontoor Brands appoints new CFO

Kontoor Brands, the owner of heritage denim labels Lee and Wrangler, has appointed Joe Alkire as its new Chief Financial Officer (CFO), effective as of 31 August 2023, as Rustin Welton steps down from the role after four years.

Alkire, who is also taking on the role of Executive Vice President, will have responsibility for the enterprise strategy, corporate development, financial planning, accounting, investor relations, tax and information technology at the company.

As a member of the company’s executive leadership team, he will report to Kontoor’s President, Chief Executive Officer and Chair of the Board, Scott Baxter.

Baxter said: “Joe’s extensive experience in all aspects of corporate finance makes him well suited to help lead us through the next phase of our strategic priorities, including driving consistent operating results and total shareholder returns for Kontoor.

“I am confident that Joe is the right leader and strategic business partner as we focus on Kontoor’s next chapter of accelerated growth.”

Alkire joins Kontoor from BrüMate, Inc., a high-growth private equity backed consumer products company, where he served as Chief Operating Officer and Chief Financial Officer. Prior to that, he served as Vice President, Corporate Development, Treasury and Investor Relations at VF Corporation.

Commenting on his new role, Alkire said: “I’m excited to be joining Kontoor during such a pivotal time in the company’s journey. I look forward to partnering with Kontoor’s global team to continue to explore the many exciting opportunities ahead for the company and its world-class brands.”

To ensure a smooth and effective transition, Rustin Welton will continue at Kontoor in an advisory position through to the end of 2023.