Unifi Announces Leadership Transition

GREENSBORO, N.C. — March 18, 2019 —  The Board of Directors of Unifi Inc. has elected Albert P. “Al” Carey, currently the company’s non-executive chairman, as its executive chairman effective April 1, 2019, and has appointed Thomas H. Caudle Jr. as the company’s principal executive officer effective immediately. Caudle previously served as the company’s principal executive officer from April 2016 to May 2017 and will continue to serve as a director and the president & COO of the company. Carey is presently the CEO of PepsiCo North America, a position from which he is expected to retire at the end of March 2019.

Unifi also announced today that Kevin D. Hall and the company have mutually agreed that Hall would resign as the company’s CEO and as a director of Unifi, both effective immediately.

Unifi’s Board of Directors said: “We are grateful to Kevin for his service and leadership of Unifi over the past two years. We thank Kevin for his contributions, hard work and dedication, and wish him the best in his future endeavors. Unifi has a talented leadership team, and we are confident that Al’s and Tom’s proven leadership, knowledge of our businesses, commitment to our culture, and focus on value creation for shareholders have positioned them well to lead the company and to help execute its strategic plan.”

Carey commented: “Unifi is a fundamentally strong company with great business opportunities and tremendous talent. It is a privilege to be asked to help lead this company. Tom and I will be working very hard in the coming weeks to drive superior execution of the company’s strategic plan and look forward to helping Unifi grow its business and capitalize on its strategic vision. The board and I remain focused on enhancing performance and delivering value for customers, shareholders and employees.  I believe that the company continues to have tremendous potential for growth and that we have an exciting future ahead of us.”

Posted March 19, 2019

Source: Unifi Inc.