Hanesbrands Inc. (NYSE:HBI) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On September 25, 2017, Hanesbrands Inc. (“Hanesbrands”) announced the appointment of Barry A. Hytinen as Chief Financial Officer, effective October 16, 2017.

Mr. Hytinen, 42, joins Hanesbrands from Tempur Sealy International, Inc. (“Tempur Sealy International”), a publicly traded global bedding manufacturer, where he served most recently as Executive Vice President and Chief Financial Officer. Prior to that role and since 2005, he served in a range of finance, corporate development, financial planning and investor relations roles at Tempur Sealy International, including as Executive Vice President, Corporate Development and Finance. Prior to joining Tempur Sealy International, Mr. Hytinen served as Chief Financial Officer of Fogbreak Software, a venture-backed software company. Earlier in his career, he held finance and corporate development positions at Vignette and General Electric. Mr. Hytinen earned an M.B.A. from Harvard Business School and holds a B.S. in Finance and Political Science from Syracuse University.

Mr. Hytinen will receive an annual base salary of $600,000, a target Annual Incentive Plan (“AIP”) opportunity of $510,000, and a target Long-Term Incentive Program (“LTIP”) opportunity of $1,200,000. He will also be eligible to participate in Hanesbrands’ other employee benefits plans and arrangements on the same terms as the company’s other executive officers. In addition, Mr. Hytinen will receive: (i) a transition equity award consisting of restricted stock units having an aggregate value as of the grant date of approximately $1,000,000, which will vest 33%, 33%, and 34%, respectively, on the first, second, and third anniversaries of the grant date; and (ii) a transition cash bonus of $250,000, which bonus must be repaid in the event Mr. Hytinen voluntarily terminates his employment with Hanesbrands prior to the second anniversary of his employment start date. Hanesbrands will also enter into a Severance/Change in Control Agreement with Mr. Hytinen on substantially the same terms and conditions as those set forth in the Form of Severance/Change in Control Agreement filed as Exhibit 10.17 to Hanesbrands’ Annual Report on Form 10-K filed with the Securities and Exchange Commission February 6, 2014.

Mr. Hytinen succeeds Richard D. Moss, who has served as the company’s Chief Financial Officer since October 2011. Mr. Moss will continue to serve as the company’s principal financial officer for Securities and Exchange Commission reporting purposes until the day after company files its next quarterly report on Form 10-Q.

Item 5.02. Financial Statements and Exhibits

(d) Exhibits

Hanesbrands Inc. Exhibit
EX-99.1 2 hbi-2017x09x25xex991.htm PRESS RELEASE DATED SEPTEMBER 25,…
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About Hanesbrands Inc. (NYSE:HBI)

Hanesbrands Inc. is a manufacturer and marketer of apparels. The Company operates through four segments: Innerwear, Activewear, Direct to Consumer and International. The Company’s portfolio of brands includes Hanes, Champion, Maidenform, DIM, Playtex, Bali, JMS/Just My Size, Nur Die/Nur Der, L’eggs, Lovable, Wonderbra, Flexees, Lilyette and Gear for Sports. Its Hanes brand offers various products, including men’s, women’s and children’s underwear, bras, socks, T-shirts, fleece, shape wear and sheer hosiery. Its Champion brand offers athletic apparel, including sports bras, team uniforms, and gym essentials, such as T-shirts, mesh shorts and fleece hoodies. The Activewear segment sells basic branded products that are primarily seasonal in nature under the product categories of branded printwear and retail activewear, as well as licensed logo apparel. The Company also offers underwear, babywear and socks brand, Bonds, and sports bra brand Berlei.