Hanesbrands exec chairman to retire

WINSTON-SALEM, N.C. Hanesbrands' executive chairman will step down from his position, but will continue to serve as a non-executive chairman, the company said Thursday.

Lee Chaden, who has served as executive chairman since April 2006, will step down on Dec. 29. A replacement has not yet been announced.

After serving as chief executive since 2004, Chaden was named executive chairman to help prepare for Hanesbrands' September 2006 spinoff as an independent public company, which was formerly owned by Sara Lee.

Chaden joined Hanesbrands in 1991, where he served as president of the company's North American business. According the company’s Web site, Chaden was with Sara Lee for over a decade, and held leadership positions within several of the company’s divisions. In 2003, he was named to lead global marketing and sales for Sara Lee and was elected an evp. The following year, Chaden became ceo of Sara Lee Branded Apparel in 2004.