HanesBrands names Michael Dastugue CFO
Winston-Salem, North Carolina-based apparel group HanesBrands announced on Thursday the appointment of Michael Dastugue as chief financial officer.
Dastugue, who took over as CFO on May 1, has more than 30 years of financial leadership and transformation experience at large organizations with an extensive background in financial planning and analysis, corporate strategy, accounting, tax and external reporting.
Most recently, he was executive vice president and chief financial officer at Walmart U.S., where he led financial activities at the company’s $370 billion U.S. segment. He is also credited for playing a key role in Walmart’s transformation, helping drive improved profitability and productivity across the organization.
He first joined Walmart in 2013 and served as executive vice president and chief financial officer at Sam’s Club, Walmart’s $57 billion club division. Prior to that, he was chief financial officer at J.C. Penney, where he held a number of financial and real estate leadership roles during 20 years.
“Michael has an impressive record of delivering results and building capabilities,” said Steve Bratspies, HanesBrands CEO.
“He has been a driving force in large-scale change programs and in positioning companies for long-term growth. Michael is an outstanding leader with a strategic mindset, and I look forward to partnering with him as we unlock our Full Potential.”
“HanesBrands has a strong foundation and is executing an aggressive strategic plan,” Dastugue added. “I look forward to joining the new leadership team, driving the growth agenda and helping the company reach its Full Potential.”
HanesBrands has not had a permanent CFO since 2019, when finance chief Barry Hytinen departed the company. He was in the role for two years.
The apparel group owns a broad range of sportswear and basic apparel brands, including Champion and Gear for Sports, alongside its innerwear business,
In 2020, the company’s net sales fell 4.3 percent to $6.7 billion, while its net loss totaled $75.6 million, or $0.21 per diluted share.
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