Memphis, Tennessee-based Varsity Brands, a sports equipment company, has named John Hutchinson as executive vice president and chief financial officer. His appointment is effective immediately. Hutchinson joins Varsity Brands from Apple Leisure Group. Varsity Brands is a portfolio company of Bain Capital Private Equity.
DALLAS, Jan. 9, 2020 /PRNewswire/ — Varsity Brands, the market leader in team sports, school spirit and achievement recognition, today announced that John Hutchinson has joined the Company as Executive Vice President and Chief Financial Officer, effective immediately. Hutchinson will report to Varsity Brands’ CEO, Adam Blumenfeld, and will serve as a member of the Company’s Executive Leadership Team (“ELT”). He assumes broad responsibility for Varsity Brands’ financial priorities, reporting, strategy and operations and will work closely with both the ELT and financial leadership at the Company’s three divisions: Varsity Spirit, Herff Jones and BSN SPORTS.
Hutchinson joins Varsity Brands from Apple Leisure Group (“ALG”), a leading North American travel, hospitality and leisure management group, where he served most recently as President with responsibility for ALG’s resort management, vacation club, and tour operator businesses. He also oversaw a diverse range of corporate functions and led the company from a collection of family-owned businesses to a true enterprise characterized by operational excellence and a 400% increase in profitability in six years. Hutchinson joined Apple Leisure Group as Chief Financial Officer in 2013.
Adam Blumenfeld stated, “Varsity Brands’ financial leadership must excel across two fronts: ensuring the resources are in place and accessible to deliver on our important corporate mission while unlocking value and delivering profitable sales growth. John’s experience, proven leadership and skill set represents an ideal fit in this regard. His successful ability to harmonize business units at ALG around shared corporate priorities aligns with our own structure, and he has introduced world-class financial accounting and reporting systems – all while demonstrating a keen attentiveness to analytics and informed pursuit of the right commercial priorities. These are the skills we need in a CFO, and I’m delighted that John has joined our impressive and growing group of leaders.”
Hutchinson added, “I am excited about the opportunity to join Varsity Brands and look forward to working with the team to build on the impressive foundation that has been established over the years while ensuring that all aspects of the operational and financial functions are aligned in support of the Company’s truly inspiring mission and enormous potential.”
Prior to his tenure at ALG, Hutchinson served with American Airlines for 24 years, progressing through several finance and planning roles including Senior-Vice President of Planning and Chief Financial Officer of American Eagle, Managing Director of Corporate Development, and Managing Director of International Planning at American Airlines.
Hutchinson holds a B.S. Degree in Civil Engineering with a Spanish minor from Brigham Young University, and a M.B.A. from the University of Texas at Austin.
Varsity Brands is a portfolio company of Bain Capital Private Equity.
About Varsity Brands
With a mission to inspire achievement and create memorable experiences for young people, Varsity Brands elevates the student experience, promotes participation and celebrates achievement through three unique but interrelated businesses: BSN SPORTS; Varsity Spirit; and Herff Jones. Together, these businesses promote personal, school and community pride through their customizable products and programs to elementary and middle schools, high schools, and colleges and universities, as well as church organizations, professional and collegiate sports teams and corporations. Through its 9,000 dedicated employees and independent representatives, Varsity Brands reaches its individual and institutional customers each year via e-commerce sites, catalogs, telesales, and direct sales channels.