HanesBrands CEO Bratspies to Depart by Year-End Amid Sales Growth

Steve Bratspies, CEO of HanesBrands, will step down at the end of 2025 or upon the appointment of a successor, as announced by the company. This news coincides with HanesBrands reporting a 4.5% increase in fourth-quarter sales, totaling $888 million, driven by growth in its innerwear segment. Despite the sales increase, the company faced a net loss of $12.9 million for the quarter, largely due to the sale of its Champion brand. The board has initiated a search for Bratspies' replacement and has hired Spencer Stuart to assist in the process. Chairman Bill Simon praised Bratspies for his transformative leadership during a challenging period, emphasizing the company's improved focus and positioning. Bratspies will remain in an advisory role to ensure a smooth transition after the new CEO is appointed.