Unifi’s CEO Kevin D. Hall Resigns

3/19/19

By Jack Gallop, NCBIZNews

Unifi Inc., a global textiles manufacturer based in Greensboro, announced Tuesday that Kevin D. Hall resigned as its chief executive officer and as a director, both effective immediately.

Hall held the position of chief executive officer at Unifi since May 2017.

Prior to Unifi, Hall was president of outerwear strategic business at Hanesbrands, Inc., senior vice president at Fidelity Investments and marketing director of worldwide strategic planning at Procter & Gamble.

Thomas H. Caudle Jr. has been appointed as Unifi’s principal executive officer, effective immediately. Caudle previously served as the company’s principal executive officer from April 2016 to May 2017. He will continue to serve as a director as well as the president and chief operating officer of the company.

The board elected Albert P. Carey, currently the company’s non-executive chairman, as its executive chairman effective April 1, 2019. Carey is presently the chief executive officer of PepsiCo North America, a position from which he is expected to retire at the end of this month.

“We are grateful to Kevin for his service and leadership of Unifi over the past two years,” said Unifi’s board in a statement. “We thank Kevin for his contributions, hard work and dedication, and wish him the best in his future endeavors.”

Unifi has over 20 subsidiaries, offering textile products made from water bottles and other recycled materials. Its yarn is used by brands including Adidas, Levi Strauss & Co., Under Armour and The North Face.

“Unifi is a fundamentally strong company with great business opportunities and tremendous talent,” Carey said. “It is a privilege to be asked to help lead this company. The Board and I remain focused on enhancing performance and delivering value for customers, shareholders and employees. I believe that the company continues to have tremendous potential for growth and that we have an exciting future ahead of us.”

Unifi’s stock closed Tuesday at $20.83, down 32 cents.

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