Pillowtex's Gannaway lands at VF
June 28, 2004,
GREENSBORO, N.C. — Former Pillowtex CEO Michael Gannaway has joined apparel giant VF Corporation in the newly created post of vice president, customer management, effective July 6. He has also been named a member of the company's operating committee.
Gannaway will report to Mackey McDonald, chairman, president and CEO. The new position gives him responsibility for "establishing cross-coalition strategies with key customers," according to the VF announcement.
At Pillowtex, Gannaway stepped into the CEO position following the sudden departure of David Perdue as the mill was foundering into bankruptcy and ultimate liquidation. Gannaway left shortly after the auction of most of the firm's assets to GGST LLC, a liquidation consortium, for $121 million.
Even after his departure from the company, Gannaway kept faith with the U.S. home textiles industry's potential to adapt and survive — even if vastly changed.
"Despite the fact that the industry is continuing a significant restructuring from a 'back-end' standpoint, it is still vital and dynamic on the 'front-end,'" he told HTT in an exchange of e-mails last spring. "I joined Pillowtex in an effort to help lead the development of a new business model that would focus around consumer branding, retailer alignment and product outsourcing. I still believe these are the right strategies for the industry. At Pillowtex, we just didn't have the time or resources to execute the vision."
Gannaway has more than 20 years experience in senior brand and customer management roles at Sara Lee, Revlon and Estee Lauder. He began his career in retailing, serving almost a decade with Dayton Hudson Corp., now Target Corp.
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