Vans is hiring former Lululemon product chief to lead the change

VF Corp. hired a senior executive from Lululemon Athletica Inc. to lead a restructuring bid for Vans, a struggling skateboarding footwear and apparel brand.

Sun Choe, former chief product officer at Lululemon, abruptly left her position at the yoga clothing brand last week. In this position, she oversaw the design, merchandising and product development of men’s clothing, women’s clothing and accessories.

Choe now joins a company and brand in chaos: VF Corp. recently reported declining sales for the seventh quarter in a row. The results included a sharp 26% decline for Vans, the skate brand best known for its slip-on sneakers.

As part of a broader attempt to cut costs, VF sold a pair of jets and listed a plane hanger in Colorado.

On Thursday afternoon, VF shares rose as much as 9.5%. This year, by the close of business, the company’s share price had fallen by 34%.