DE-THE-LYCRA-COMPANY

The LYCRA Company, a global leader in developing innovative solutions for the textile, apparel, and personal care industries, announces the appointment of Yafu Qiu, chairman of The LYCRA Company, and Julien Born, chief commercial officer of The LYCRA Company, as co-chief executive officers, effective April 1, 2021, following the retirement of David Trerotola. The co-ceo structure is intended to better implement The LYCRA Company’s new strategic development plan for the next five years and will bring greater operational focus and tap into each leader’s experience and skills in the areas most beneficial to the company to solidify its industry-leading position and drive its long-term success.

Mr. Trerotola served as the company’s chief executive officer since 2019, following the Ruyi Group’s acquisition of the business. Mr. Trerotola retires after 20 years of dedicated service to The LYCRA Company and its predecessor companies. He began his career in 1994 with DuPont.

“I want to thank Dave for his many contributions to The LYCRA Company,” said Yafu Qiu, chairman of The LYCRA Company, the company’s controlling shareholder. “Dave’s passion for the business was evident to me from the beginning, and I wish him all the best in this next phase of his journey with his wife and family. At my request, Dave will support a smooth transition of leadership and will be working with me and Julien over the next 60 days.”

Mr. Born, currently the company’s chief commercial officer, will serve as co-ceo and lead the overall operations of the company and implement its ambitious growth vision. Mr. Born joined the business in 2007 and, since 2018, led the company’s apparel business, where he managed the global commercial organization, helped strengthen R&D and innovation capabilities, and oversaw manufacturing assets. Mr. Born has also spent significant time in Asia, where he led that region over an eight-year period, with assignments in Shanghai and Hong Kong. Mr. Born has had a diverse 24-year career spent in the US, Europe and Asia, as both an executive in large multinational companies and as a business owner of a full-service corporate licensing agency. A native of Switzerland, Mr. Born holds a bachelor’s degree from Arizona State University’s W.P. Carey School of Business and a Swiss baccalaureate degree.

“The board has appointed Julien as The LYCRA Company’s next ceo,” said Mr. Qiu. “I am confident that Julien understands the opportunities and challenges facing the business and we are fully committed to supporting him and the entire leadership team on the new developments and performance growth of The LYCRA Company to help The LYCRA Company realize its full potential in 2021 and beyond.”

“I am excited for the opportunity to lead a tremendous team of colleagues at The LYCRA Company who are focused every day on creating value in the industries we serve via our unique brand portfolio, high-quality products, unparalleled innovation capabilities, and our global network of partners,” said Mr. Born. “I look forward to a close partnership with Chairman Qiu and the Ruyi Group to further develop our manufacturing capacity and accelerate the growth of our business, especially in China.”

Mr. Qiu, in addition to continuing as chairman of The LYCRA Company, will focus his co-ceo role on the company’s relationships with key stakeholders, board governance matters, strategic planning, and capital structure adjustments, including the strategy and timing of an initial public offering.

“The LYCRA Company is faced with many new challenges in a fast-developing world,” concluded Mr. Qiu. “We are taking this opportunity to appoint Mr. Born and other new management team members to work on a new strategy to further build our brand franchises, expand manufacturing capacity, develop more impactful innovations with our global value-chain partners, lead the industry in sustainability, and accelerate our digital transformation. I am confident that the new management team will be able to further strengthen the leadership role of The LYCRA Company in the apparel and personal care industries.”

About The LYCRA Company

The LYCRA Company innovates and produces fiber and technology solutions for the apparel and personal care industries. Headquartered in Wilmington, Delaware, The LYCRA Company is recognized worldwide for its innovative products, technical expertise, and unmatched marketing support. The LYCRA Company owns leading consumer and trade brands: LYCRA®, LYCRA HyFit®, LYCRA® T400®, COOLMAX®, THERMOLITE®, ELASPAN®, SUPPLEX®, and TACTEL®. The LYCRA Company’s legacy stretches back to 1958 with the invention of the original spandex yarn, LYCRA® fiber. Today, 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 www.thelycracompany.com .

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