Kontoor Brands, the owner of denim labels Wrangler and Lee, has appointed a new chief financial officer (CFO) as Rustin Welton steps down after four years.
Effective August 31, Welton will be succeeded by Joe Alkire, who will also take on the role of executive vice president.
In his new role, Alkire will have responsibility for the enterprise strategy, corporate development, financial planning and analysis, accounting, investor relations, tax, treasury, internal audit, and information technology at the company.
He will report to Kontoor’s president, chair, and CEO Scott Baxter.
Baxter thanked outgoing finance chief Welton and congratulated Alkire on his appointment.
“We are thrilled to welcome [Alkire] to the executive leadership team at Kontoor,” Baxter commented.
He said Alkire’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”.
Alkire joins Kontoor from private equity backed consumer products company BrüMate, where he served as chief operating officer and CFO. Earlier in his career, he served as the vice president of corporate development, treasury, and investor relations at The North Face parent VF Corp.
“I’m excited to be joining 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.”