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VF Corp. Plans Tax-Free Spin-off Of Jeans Business To Shareholders - Quick Facts

VF Corp. (VFC) announced that its Board intends to separate the company into two independent, publicly traded companies: VF Corporation, and a yet-to-be named company (NewCo), which will hold VF's Jeans and VF Outlet businesses. The company expects to create these companies through a tax-free spin-off of NewCo to VF's shareholders.

The company also announced the anticipated designation of Scott Baxter as CEO of NewCo and Rustin Welton as CFO, effective upon completion of the transaction. The separation is currently targeted to be completed in the first half of calendar 2019.

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