Denver-based apparel, footwear and accessories group VF Corporation announced on Tuesday that Veronica Wu has decided to resign from the board of directors.
VF said after Mr. Wu’s resignation, he would reduce the number of boards from 12 to 11 until a new director was found.Companies that own brands including Van, NS North side, Timberland When DickiesWu was first appointed to the board of directors in March 2019.
Wu is currently a managing partner of First Bight Ventures, an investment fund focused on early synthetic biology companies founded in April this year. She is also a member of the Global Advisory Board of the multinational IT services and consulting firm Capgemini. Prior to that, he spent five years as a managing partner at Hone Capital, a US venture division of the China Science and Merchants Investment Management Group, from 2015 to 2020.
According to a release from VF Corporation, “Ms. Wu’s decision to resign from the board was not the result of a disagreement with VF on issues related to VF’s operations, policies, or practices.”
But her departure came shortly after the controversy caused by alleged investor comments on the Black Lives Matter movement.
The comment in question appears in a leaked email quoted by the American news website Axios in a report published Thursday, sent when Wu worked as a managing partner for Horn Capital. According to the report, the email exchange from June 2020 involved an office manager informing Wu that the company intends to celebrate Juneteenth as a company holiday.
After George Floyd’s murder earlier this year, investors have explained to Wu that many companies are choosing to celebrate their vacation due to increased attention to the issue of racism. It is reported that he answered like this. At Black Lives Matter.If anything, I think they are true racists trying to stir things up to move this country. [sic] Potentially socialism, or even communism. “
These comments clearly conflict with VF’s stance on these issues. The company immediately accused Floyd of his death in May last year with Chairman, President and CEO. Steve Lendl Send a message about the event to all employees in the group.
“The official name of the virus behind the global shutdown is Covid-19. The virus that caused the deaths of George Floyd and many other colored races also has an official name. It’s called racial discrimination. “I will.” He writes. “Racism is not welcomed at VF Corporation. It has been and will never happen.”
In addition, in February of this year, the company announced a series of new initiatives aimed at achieving racial equality within the organization.
VF Corp. Neither First Bight Ventures nor First Bight Ventures responded to requests for comment on FashionNetwork.com.
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Veronica Wu leaves VF Corporation’s board of directors
Source link Veronica Wu leaves VF Corporation’s board of directors