Aditya Kulkarni's questions to HanesBrands Inc (HBI) leadership • Q4 2024
Question
Aditya Kulkarni from UBS asked CEO Steve Bratspies for context on his decision to step down and inquired about the progress made in eliminating stranded costs associated with the Champion business sale.
Answer
CEO Stephen Bratspies explained his departure is part of a planned succession process initiated by the Board to prepare for the company's next five-year phase from a position of strength, emphasizing there are no issues with the business strategy. CFO Markland Lewis added that the company is on track to be essentially complete with eliminating stranded costs and other cost actions in 2025, which is a key driver of the year's margin expansion.