Kontoor Brands names new CFO

Kontoor Brands announced on Monday the retirement of Rustin Welton from the role of executive vice president and chief financial officer, after four years of service in the U.S. denim company.

The Greensboro, North Carolina-based owner of Lee and Wrangler brands said Joe Alkire will succeed Welton as CFO, effective August 31, where he will oversee enterprise strategy, corporate development, financial planning and analysis, accounting, investor relations, tax, treasury, internal audit and information technology.

As a member of the company’s executive leadership team, Alkire will report to Kontoor’s president, chief executive officer and chair of the board, Scott Baxter.

​“I’m excited to be joining Kontoor during such a pivotal time in the company’s journey,” Alkire said. “I look forward to partnering with Kontoor’s global team to continue to explore the many exciting opportunities ahead for the company and its world-class brands.”

Alkire joins Kontoor from BrüMate, a private equity-backed consumer products company, where he served as chief operating officer and chief financial officer. Prior to that, he served as the vice president, corporate development, treasury, and investor relations for VF Corporation. Prior to VF, Alkire served as an investment banking and equity research analyst for William Blair & Company.

“We are thrilled to welcome Joe to the executive leadership team at Kontoor. Joe’s extensive experience in all aspects of corporate finance makes him well-suited to help lead us through the next phase of our strategic priorities including driving consistent operating results and total shareholder returns for Kontoor,” said Baxter.

“Joe’s background in our industry and with successful, disruptive brands will help Kontoor continue toward sustained and profitable long-term growth. I am confident that Joe is the right leader and strategic business partner as we focus on Kontoor’s next chapter of accelerated growth.”

To ensure a smooth and effective transition, Welton will continue at Kontoor in an advisory position through year-end, the company added.