G-III Apparel Group has announced the appointment of three new members to its board of directors, revealed during its Annual Meeting of Stockholders.
President of the Fashion Institute of Technology (FIT), Joyce Brown, is among those announced, bringing to the board over 40 years of experience in public higher education. Brown has additionally served on the board of directors of Ralph Lauren Corporation from 2001 to 2020.
Michael Schaffer, the former executive vice president, chief operating and financial officer of PVH Corp, will be another addition. During his 30 years at PVH before his retirement in 2021, Schaffer oversaw various services for the group, including corporate finance, information technology and logistics. He currently serves on the board of directors of Torrid Corporation and The Children’s Place.
Meanwhile, Andrew Yaeger, the third new member, has been global head of Jefferies’ Strategic Equity Transactions Group since mid-2021. Over his career, he has held various key positions and leadership roles within Deutsche Bank and Bear Stearns.
In a release, G-III’s chairman and CEO, Morris Goldfarb, said: “Joyce’s understanding of fashion and the evolution of the industry, Mike’s financial acumen and extensive knowledge of our business model and Andrew’s broad experience in the equity and debt markets in both the U.S. and abroad will bring added experience and expertise that will complement our existing board members and management team.
“As we look to the future of G-III, I am excited to continue to bring in new perspectives, talent, diversity and ideas that will support our growth.”
G-III’s board of directors now consists of 14 members, 79 percent of whom are independent.