WINSTON-SALEM, N.C. (AP) -- Underwear maker HanesBrands Inc. said Thursday that its CFO is resigning, effective June 30.
E. Lee Wyatt, 58, is leaving to pursue other opportunities, the company said. Dale W. Boyles, controller and chief accounting officer, will serve as interim CFO while the company searches for Wyatt's replacement. Wyatt joined the Hanesbrands in 2006 before it was spun off from Sara Lee Corp.
Hanes has been particularly hard hit by soaring cotton prices because much of its clothing is made from cotton. It has raised prices to offset the higher costs.
In its most recent first quarter, the company's net income rose 32 percent while revenue climbed 12 percent to $1.04 billion.
Shares fell 20 cents, or 0.6 percent, to $32.15 in late morning trading.