Governance

Shared Responsibility

The way to achieve transformational change in sustainable business practices is by sharing accountability across our global enterprise. We have developed management systems and reporting processes that hold us accountable, track our progress and measure our results.

17000VF Operation Committee: From left to right, standing: Martin S. Schneider; Stephen F. Dull; Thomas A. Glaser; Anita Graham; Robert K. Shearer; Steven E. Rendle; Scott A. Roe; Laura C. Meagher; Michael T. Gannaway; Scott H. Baxter. From left to right, seated: Karl Heinz Salzburger; Eric C. Wiseman; Susan L. McDonald; Franklin L. Terkelsen.

Knowing the importance of sound governance, we’ve created an oversight system to guide our sustainability and responsibility efforts and goals that involves our senior leadership and a group of committed experts from around the globe.

Effective governance gives everyone, from suppliers to VF’s operating committee, a role in advancing our commitment to sustainability and responsibility. By embracing a shared responsibility, we collaboratively examine our policies, procedures and efforts – ultimately facilitating a better integration of sustainability and responsibility throughout our businesses. Furthermore, we have developed management systems and reporting processes that hold us accountable, track our progress and measure our results.

"“Building strong governance oversight has been a priority as it moves the efforts from being a single team-led program to an integrated platform the entire organization is responsible for leading.”" - Letitia Webster - Vice President, Global Corporate Sustainability, VF Corporation

LEADERSHIP INVOLVEMENT
VF leaders are judged on the goals they set and achieve. VF is incorporating sustainability and responsibility goals into the performance plans of every senior leader. This commitment starts at the top of our organization.

In 2013, our Chairman, President and CEO Eric Wiseman set an enterprise goal in his performance plan to achieve a 1 percent energy reduction from 2012 to 2013. It was achieved. This goal placed focus on an important matter and sent a signal to our organization that has since cascaded down to his leadership team, our coalitions and brands.

In 2014, VF leaders set a performance goal to develop VF’s first enterprise-wide sustainability scorecard. Overseen by our CFO, the scorecard was a vital step forward in developing sound management systems that ensure the integration of sustainability throughout the company and enhance our ability to track and report progress. In the first year of implementation, the scorecard was translated into seven languages and achieved a 95 percent completion rate.

SUSTAINABILITY & RESPONSIBILITY LEADERSHIP TEAM
In 2014, we formed the Sustainability & Responsibility Leadership Team (SRLT) to further guide the applications of sustainability and responsibility throughout the company. The group, which meets quarterly, is comprised of brand leaders and senior leaders from human resources, supply chain, legal, corporate, investor relations and our brands. The SRLT is tasked with approving the scope, strategic plans, goals and policies for VF’s sustainability and responsibility program. It also addresses the environmental and social issues that present the greatest risks and opportunities for VF, including topics such as living wage, animal-derived materials, forest-derived materials and human rights in the supply chain.

VF SUSTAINABILITY COUNCIL
In 2010, VF formed a sustainability council to coordinate sustainability and responsibility activities across the company and oversee corporate sustainability and responsibility strategy development and implementation. The council oversees greenhouse gas (GHG) reduction projects and goal setting, and it includes working groups focused on community, innovation, communications and issues management.

The council meets twice a year and comprises global sustainability leaders and subject matter experts across our brands and corporate functions, including our innovation team. As part of their daily responsibilities, these leaders work to ensure sound business perspective is infused within their brand’s sustainability and responsibility strategy. Functional council leaders include members from VF’s procurement, operations and retail teams. It is the duty of the council to communicate and integrate VF’s sustainability and responsibility strategy into each of our brands and business functions. We also have strong representation from across global regions to ensure that our strategy is applicable and relevant throughout the more than 170 countries in which we operate.

VF’s Vice President of Global Corporate Sustainability leads the council and presents the group’s progress to VF’s operating committee at least twice a year. Updates on the activities of VF’s sustainability council are provided on a regular basis to VF’s CEO, CFO and board of directors.