Leader of VF Corp. to retire in August

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When VF Corp. Chairman Mackey J. McDonaldretires Aug. 1, count on him to keep wearing his Wrangler jeans,Nautica shirts, John Varvatos sports coats, The North Face jacketsand Reef sandals.
"Oh, yeah," said McDonald, who announced his retirement Thursday."Forever. VF will be in my heart forever."
Those brands are just a few of the growing list in the VF stable,many of which the company acquired under McDonald's leadership.
The company said Thursday that over the past dozen years, VF hasmade 34 acquisitions worth $3.4 billion.
In the process, McDonald led the company's transformation from ajeans and bra manufacturer focused primarily on the U.S. to a $7billion, global, lifestyle brands company with more than 47,000employees.
"It has really been something to watch," said Peter Tourtellot,managing director of Anderson Bauman Tourtellot Vos & Co., aturnaround management company. "It has been done remarkably well ina very difficult environment."
McDonald's low-key style and penchant for success have made him oneof the city's most respected business executives.
"I think he is leaving VF poised to do even better," Tourtellotsaid. "That's the real test of a manager."
McDonald, 61, has worked at VF for 25 years, including 11 years asCEO, a position he relinquished Jan. 1, and 10 years as chairman.
When McDonald steps down, VF President and CEO Eric C. Wiseman, 52,will become chairman.
McDonald said he's most proud of the management team he's puttogether.
"I have always told myself you need to move on when that next groupis ready and before everyone else has decided it's time for you tomove on," McDonald said. "That is what I have done. I feel greatabout Eric and his capabilities and the leadership team. I felt itwas time for me to turn it over to them and let them do what it isthey do so well."
Wiseman had high praise for his mentor.
"Mackey McDonald is a tremendous leader and a very special person,"Wiseman said in a statement. "(His) impact on VF will last wellbeyond his presence."
On the downside, McDonald said, there have been somedisappointments, such as brands the company didn't get to acquire— he wouldn't say what they were — and the company'srecent stock performance.
VF shares have fallen from a high of about $96 last July to lessthan $64 in January.
"Over time that will self- correct and the investment communitywill understand how strong VF is, even in a tough economicenvironment," he said.
"Our performance has been stronger than most apparel stocks."
There's also another possible downside for McDonald. Will hecontinue to get his employee discount after he retires?
"I'm going to have to work on that," he said. "Maybe it will be myretirement gift."