HanesBrands announces planned leadership succession

HanesBrands announced that Steve Bratspies will depart as chief executive officer of the company at the end of 2025, or upon the appointment of his successor. As part of the company’s leadership succession planning process, the board has begun a comprehensive search to identify the company’s next CEO and has retained Spencer Stuart, an executive search firm, to support its work. Bratspies will step down from the board of directors concurrent with the end of his tenure as CEO. He will stay on in an advisory role once a new CEO is named to support a smooth transition.

“Having reached a positive and important inflection point in executing our strategy and looking ahead to the next leg of the company’s journey, the board, in concurrence with Steve, has decided that now is the right time to initiate a search for our next CEO. We are actively searching for the next leader who will continue building on our momentum for the next chapter of the company’s growth. We will provide updates as appropriate,” said Bill Simon, chairman of the board.

He continued, “On behalf of the entire board, we deeply appreciate the transformative leadership Steve has demonstrated throughout his tenure as CEO to make HanesBrands a new and better company. Steve led HanesBrands through a turbulent period in our industry, overhauling the company’s operating model, completing the sale of the Champion business, and positioning HanesBrands as a global powerhouse in basics and innerwear. Under Steve’s leadership, the company has narrowed its focus and is now on track to deliver even stronger performance and increased shareholder returns in the coming years.”

“Leading HanesBrands over the past five years has been an honor,” said Bratspies. “Since joining as CEO, working alongside our talented global team, we have significantly simplified and strengthened our business. HanesBrands today is a more consumer-centric global operating company better prepared and strategically positioned to leverage our brands, innovation, marketing, talent, and supply chain capabilities around the world. Our business is delivering more consistent top-line growth, higher margins, and strong cash generation and has multiple levers to unlock shareholder value. I am proud of the actions we have taken, what this organization has achieved together, and how HanesBrands is ready for the future.”

Bratspies concluded, “I look forward to working closely with the board as it conducts a search to identify my successor. I am committed to continuing to lead our global team in delivering for our consumers and retail partners and advancing our growth initiatives.”