G-III Apparel Group, Ltd. elected Dr. Joyce F. Brown, president of the Fashion Institute of Technology (FIT), Michael Shaffer, recently retired COO/CFO of PVH Corp. and an external advisor to several fashion businesses, and Andrew Yaeger, global head of Jefferies’ Strategic Equity Transactions Group to G-III’s Board of Directors.
Morris Goldfarb, G-III’s chairman and CEO, said, “We are pleased with the additions of Joyce, Mike and Andrew to our Board of Directors and are looking forward to working with them. Joyce’s understanding of fashion and the evolution of the industry, Mike’s financial acumen and extensive knowledge of our business model and Andrew’s broad experience in the equity and debt markets in both the U.S. and abroad will bring added experience and expertise that will complement our existing Board members and management team. As we look to the future of G-III, I am excited to continue to bring in new perspectives, talent, diversity and ideas that will support our growth.”
Dr. Brown has been president of FIT since 1998. She has over 40 years of experience in public higher education. Before FIT, she held numerous senior admin posts at City University of New York (CUNY), including acting president of Bernard Baruch College and vice-chancellor of the University. She was a professor of Counseling Psychology at the Graduate School and University Center of CUNY, where she is currently a professor emerita. During the David Dinkins administration, Dr. Brown also served as a New York City Deputy Mayor for Public and Community Affairs. She served on the Board of Directors of Ralph Lauren Corporation from 2001 to 2020.
Shaffer spent over 30 years at PVH Corp., holding numerous positions in its wholesale and retail divisions, before retiring in 2021. He was EVP, COO and CFO of PVH Corp. from 2006 until 2021, overseeing the retail division, treasury, corporate finance, information technology, and logistics services. He serves on the Board of Directors of Torrid Corp. and The Children’s Place, Inc. and had served on the Board of Directors of Build-A-Bear Workshops from 2014 to 2019.
Yaeger has been the global head of Jefferies’ Strategic Equity Transactions Group since mid-2021. From 2004 until 2021, he held various leadership roles within Deutsche Bank, including global head of the Strategic Equity Transactions Group. Before tha, he held positions in the Equity Capital Markets group of Deutsche Bank in the U.S. and its Structuring Group that worked across equity, credit, interest rates, and foreign currencies. Before Deutsche Bank, he worked at Bear Stearns in investment banking and derivatives for five years.
With the addition of these three new members, G-III’s Board of Directors, which now consists of fourteen members. In addition, eleven of the fourteen, or 79 percent of the Board, are independents.