VF completes Timberland acquisition; CEO departs

VF Corp. announced this morning that it has completed its acquisition of The Timberland Company for $2.3 billion.

It also announced that former Timberland CEO Jeff Swartz, whose family founded the company, is leaving Timberland.

In addition, Timberland’s CFO Carrie Teffner and Vice President and General Counsel Danette Wineberg are also leaving.

VF has appointed Patrik Frisk as President of Timberland. His former position was President of VF Outdoor & Action Sports EMEA.

He will report to Steven Rendle, Group President of VF Outdoor & Action Sports America – thus Timberland will join industry brands Vans and Reef, and other VF-owned brands, in the Outdoor & Action Sports Coalition.