Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(c) On January 9, 2020, Hanesbrands Inc. (the "Company") appointed M. Scott
Lewis as Interim Chief Financial Officer and principal financial officer,
effective immediately. Mr. Lewis will also continue to serve as the Company's
Chief Accounting Officer and Controller and principal accounting officer.
Mr. Lewis, age 49, has served as the Company's Chief Accounting Officer and
Controller since May 2015. Mr. Lewis served as the Company's Vice President, Tax
from 2013 to 2015, as Vice President, Financial Reporting and Accounting in
2013, as Vice President, External Reporting from 2011 to 2013 and as Director,
External Reporting from 2006 to 2011. Prior to joining the Company, Mr. Lewis
served as senior manager with the accounting, audit and tax consulting firm
KPMG.
Mr. Lewis has no family relationships with any director, executive officer, or
person nominated or chosen by the Company to become a director or executive
officer of the Company. Mr. Lewis is not a party to any transaction required to
be disclosed pursuant to Item 404(a) of Regulation S-K.
In connection with his assumption of a Senior Vice President role, Mr. Lewis
will receive (i) an annual base salary of $375,000, effective January 1, 2020,
(ii) a target annual incentive plan opportunity equal to 45% of his base salary,
and (iii) a target long-term incentive program opportunity of $175,000. In
connection with his appointment as Interim Chief Financial Officer, he will
receive cash compensation of $175,000 per quarter during such time as he serves
as Interim Chief Financial Officer, payable at the end of the assignment and
pro-rated for any partial quarter. Mr. Lewis also is currently entitled to a
retention award with a value of $325,000, payable in cash if he is actively
employed by the Company in any capacity through December 31, 2021. He is also
eligible to participate in Hanesbrands' other employee benefits plans and
arrangements on the same terms as the Company's other executive officers.
Mr. Lewis succeeds Barry A. Hytinen, who resigned effective December 28, 2019 in
order to pursue another professional opportunity outside the apparel industry.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
Exhibit 99.1 Press Release dated January 14, 2020
Exhibit 104 Cover Page Interactive Data File (embedded within the Inline XBRL
document)
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