What's Going on at VF? CEO Resigns Suddenly

In the middle of Q4 a retail CEO, Chairman and President resigned pretty suddenly.

Companies telegraph these things for month, and have a successor lined up. The new CEO comes from an Independent Memer of the Board, which is usually not part of any serious company succession plan except in a "case of emergency, break glass" situation.

* Health?

* Serious malfeasance?

* Declining fundamentals?

* Behind-the-scenes investor reboot? (my vote)

This is really unprecedented from what I can tell. The new CEO is an independent director who has spent their entire career in CPG. Clearly they are just there to keep the wheels on and find the successor.

My bet is some serious financing or capitalization effort was in the cards, and one investor made a demand that current leadership had to go, and they accepted. We may never hear about this, or we might...