The Lycra Company announced on Monday the appointment of Gary Smith to the role of chief executive officer, effective November 27.

Smith will replace Dean Williams, who has served as acting CEO since August. Williams will continue in his role as chief financial officer and assist with the transition. As CEO, Smith will be responsible for Lycra’s global organisation and will report to the company’s board of directors, according to the Delaware-based company.

“I am excited to join The Lycra Company with its portfolio of world-class brands, pre-eminent market position, and history of innovation,” said Smith. “I look forward to leading this incredible organization and working collaboratively to build upon its foundational success.”

A business leader with over 25 years of experience in the consumer products industry, Smith joins Lycra from Hatteras Yachts, a custom motor and sports fishing yacht company, were he served as CEO and lead the turnaround and subsequent sale of the company. Before that, he was CEO of Polartec, and spearheaded transformation efforts at the textile company. He also previously served as president of the outdoor group at The Timberland Company.

“Gary is a proven CEO with deep brand experience and knowledge of our industry, along with a long history of successfully growing companies and creating shareholder value,” said Craig Rogerson, executive chairman of The Lycra Company.

“We are confident that his leadership will help us accelerate our long-term growth plans.”

The Lycra company produces fiber and technology solutions for the apparel and personal care industries. Its brand portfolio includes Lycra, LycraHyFit, T400, CoolMax, Thermolite, Elaspan, Supplex, and Tactel.