The LYCRA Company Announces Industry Veteran Gary Smith as New Chief Executive Officer

WILMINGTON, Del.--(BUSINESS WIRE)--The LYCRA Company, a global leader in developing innovative and sustainable fiber and technology solutions for the apparel and personal care industries, announced today that Gary Smith has been appointed chief executive officer, effective November 27, 2023.

Smith will replace Dean Williams who has served as acting CEO since August. Williams will continue in his role as chief financial officer and assist with the transition. Smith will be responsible for The LYCRA Company’s global organization and will report to the company’s board of directors.

Smith is an accomplished business leader with over 25 years of experience in the consumer products industry, with a focus on brand-driven commercial strategy, operational transformation and global expansion. Most recently, Smith held the position of CEO at Hatteras Yachts, Inc., a custom motor and sports fishing yacht company, leading a successful turnaround and subsequent sale of the company. As CEO of Polartec, he spearheaded transformation efforts that set the textile company on a path to success. He also previously served as president of the Outdoor Group at The Timberland Company.

“Gary is a proven CEO with deep brand experience and knowledge of our industry, along with a long history of successfully growing companies and creating shareholder value,” said Craig Rogerson, executive chairman of The LYCRA Company. “We are confident that his leadership will help us accelerate our long-term growth plans.”

“I am excited to join The LYCRA Company with its portfolio of world-class brands, pre-eminent market position, and history of innovation,” said Smith. “I look forward to leading this incredible organization and working collaboratively to build upon its foundational success."

About The LYCRA Company

The LYCRA Company innovates and produces fiber and technology solutions for the apparel and personal care industries and owns the leading consumer brands: LYCRA^®, LYCRA HyFit^®, LYCRA^® T400^®, COOLMAX^®, THERMOLITE^®, ELASPAN^®, SUPPLEX^®, and TACTEL^®. Headquartered in Wilmington, Delaware, The LYCRA Company is recognized worldwide for its sustainable products, technical expertise, marketing support, and LYCRA ONE™ marketplace. The LYCRA Company focuses on adding value to its customers’ products by developing unique innovations designed to meet the consumer’s need for comfort and lasting performance. For more information, visit lycra.com.