Varsity Brands on Thursday announced the appointment of John Hutchinson as executive vice president and CFO, effective immediately.
Hutchinson will report to Varsity Brands CEO, Adam Blumenfeld, and will serve as a member of the company’s executive leadership team. He assumes broad responsibility for Varsity Brands’ financial priorities, reporting, strategy, and operations and will work closely with both the ELT and financial leadership at the company’s three divisions: Varsity Spirit, Herff Jones and BSN Sports.
Hutchinson joins Varsity Brands from Apple Leisure Group, a North American travel, hospitality and leisure management group, where he served as president with responsibility for ALG’s resort management, vacation club and tour operator businesses. He also oversaw a diverse range of corporate functions and led the company from a collection of family-owned businesses to an enterprise characterized by operational excellence and a 400 percent increase in profitability in six years. Hutchinson joined Apple Leisure Group as CFO in 2013.
Adam Blumenfeld said, “Varsity Brands’ financial leadership must excel across two fronts: ensuring the resources are in place and accessible to deliver on our important corporate mission while unlocking value and delivering profitable sales growth. John’s experience, proven leadership and skill set represents an ideal fit in this regard. His successful ability to harmonize business units at ALG around shared corporate priorities aligns with our own structure, and he has introduced world-class financial accounting and reporting systems – all while demonstrating a keen attentiveness to analytics and informed pursuit of the right commercial priorities. These are the skills we need in a CFO, and I’m delighted that John has joined our impressive and growing group of leaders.”
Hutchinson added, “I am excited about the opportunity to join Varsity Brands and look forward to working with the team to build on the impressive foundation that has been established over the years while ensuring that all aspects of the operational and financial functions are aligned in support of the Company’s truly inspiring mission and enormous potential.”
Prior to his tenure at ALG, Hutchinson served with American Airlines for 24 years, progressing through several finance and planning roles including Senior VP of Planning and CFO of American Eagle, Managing Director of Corporate Development and Managing Director of International Planning at American Airlines.
Varsity Brands is a portfolio company of Bain Capital Private Equity.