Kontoor Brands, Inc., owner of the Wrangler and Lee denim brands, announced that Rustin Welton, EVP and chief financial officer, will retire from Kontoor after four years with the company.
“I want to congratulate Rustin on his retirement and express my gratitude for his partnership and expert counsel that have been invaluable since Kontoor’s inception and integral to our success,” said President, CEO and Chair of the Board Scott Baxter. “The strategic actions taken under his leadership have greatly improved the company’s balance sheet and established a solid foundation for future growth. His contributions to our business and success cannot be overstated and have been essential to putting us in a position of strength. We wish him all the best in his next chapter of life.”
Effective August 31, Joe Alkire will succeed Welton, appointed as EVP and CFO, responsible for enterprise strategy, corporate development, financial planning and analysis, accounting, investor relations, tax, treasury, internal audit, and information technology. As a member of the company’s Executive Leadership Team, he will report to Baxter.
“We are thrilled to welcome Joe to the Executive Leadership Team at Kontoor. 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,” said Baxter. “Joe’s background in our industry and with successful, disruptive brands will help Kontoor continue toward sustained and profitable long-term growth. 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 was chief operating officer and chief financial officer. Before that, he was the VP of corporate development, treasury and investor relations for VF Corp. Before VF, Alkire was in investment banking and worked as an equity research analyst for William Blair & Company.
“I’m excited to join Kontoor during such a pivotal time in the company’s journey,” Alkire said. “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.”
Welton will continue at Kontoor in an advisory position through year-end to ensure a smooth and effective transition.
“I am so proud of our team here at Kontoor and all that they have achieved. I’ve had the opportunity to work with Joe previously, and I am confident he is the right leader for Kontoor’s bright future,” said Welton. “I want to thank Scott for this extraordinary opportunity and our global team for their partnership and commitment over the years.”
Photo courtesy Joe Alkire
