Steve Rendle Is President And Chief Operating Officer Of Wei Fu Group.

Steve Rendle has been promoted to President and chief executive of VF Corp., and joined the board of directors of the group.

Rendle was appointed as the senior vice president of the US group last year and is regarded as the most likely rival to CEO Eric Wiseman in the company's president's competition.

Eric Wiseman has been vice president of the group since 2011 and President of the US group, the main outdoor sports department of the group.

Wiseman, 59, will continue to serve as chairman and CEO of the company and give the CEO position to Rendle, 55.

CEO has been vacant in recent years.

Rendle will continue to report to Wiseman in the future.

It is reported that the promotion of Rendle will lead to the retirement of Wiseman. The officials of the Wei Fu group repeatedly quoted CEO's own words and told them, "I am not going anywhere. There is too much fun here."

In the new position of Rendle, he will supervise the global business of the Wei Fu group.

It includes outdoor sports, jeans, professional wear, sportswear and modern fashion brands.

He will also be responsible for Greensboro, a North Carolina based supply chain and direct selling platform.

Wiseman said: "Rendle has contributed nearly 16 years in the company, and has achieved a lot during the period, including helping the brand develop rapidly in the United States, leading our outdoor sports brand alliance to develop and serving as the president of The North Face brand."

He added that Rendle "focused on the four important sources of growth power of the group, namely, leading innovation technology, consumer interaction, direct selling services and global expansion."

It played a key role in the brand pformation of The North Face, and made outstanding contributions to the success of the brand. At the same time, it also succeeded in leading the company to the leader of outdoor and sports brand alliance.

In addition to The North Face, the rich group's portfolio today consists of four "billions of dollars worth of brands", namely, the Timberland and Vans that have just completed the pformation, and Wrangler and Lee of the main denim apparel.

Rendle joined in 1999.

At the time of taking office, the group was in the predicament of the acquisition of jacket manufacturers.

In 2004, he became president of the brand America District, 5 years later, he was appointed president of the outdoor brand division of Wei Fu Group in 2009.

After Timberland was bought for $2 billion 300 million in 2011, he also managed the brand's business for some time.

Through subsequent acquisitions and divestiture, outdoor sports brand alliances continue to grow and become the most profitable brand alliance within the company.

Last year, the alliance's revenue increased by 12.9% to 7 billion 200 million yuan, accounting for 58.6% of the company's turnover, which was higher than that of the previous year's 55.9% share.

Operating income increased by 18.7% to $1 billion 310 million, accounting for 62.4% of the company's total revenue.

According to the 8-K document submitted to the securities and Exchange Commission, the basic annual salary of Rendle will increase to $900 thousand.

In 2014, when his position became senior vice president, the annual salary was $706 thousand.

In addition, his annual incentive bonus target increased to $1 million.