VF Corp announced that board director Veronica Wu stepped down immediately from her position which she held from March 2019, reports Yahoo. The company didn’t give a reason why she stepped down but said that it was not because of any disagreement between them.
“VF Corporation (NYSE: VFC), today announced that Veronica Wu has informed VF of her decision to step down from the company’s Board of Directors, effective immediately. Ms. Wu’s decision to step down from the Board was not the result of any disagreement with VF on any matter relating to VF’s operations, policies or practices,” the company said.
“I don’t believe in Black Lives Matter,” Wu allegedly wrote. “If anything I think they are the true racists trying to stir up things to make this country going [sic] to socialism or even communism potentially.”
The email was written on June 16, 2020, in response to Hone Capital, where she was a managing partner, deciding to honor Juneteenth as a holiday. Axios said Wu wrote that she didn’t know much about the holiday but that she was not “supportive,” after learning more about it.
VF Corp, who owns brands like Supreme and Timberland, will reduce their board from 12 to 11 until they find a replacement for Veronica Wu.