According to a statement, McDonald will retire Aug. 1. He will be replaced as chairman by VF President and CEO Eric Wiseman. McDonald’s retirement completes VF’s planned leadership succession, which began with Wiseman’s promotion to president and COO in March 2006 and to CEO in January 2008.
“The time is right to complete the final step of our leadership succession. Eric’s transition to CEO has gone extremely well, and he continues to demonstrate outstanding leadership,” McDonald said in the statement. “I feel extremely gratified in knowing that VF has a very bright future.”
“Mackey McDonald is a tremendous leader and a very special person whose impact on VF will last well beyond his presence. He led the successful transformation of VF into a dynamic lifestyle brand company well positioned for future growth. And perhaps most important, he helped build a unique performance-driven culture based on the highest levels of integrity and respect for individuals,” Wiseman said in the statement.