NEW YORK (Associated Press) - Underwear and hosiery maker Hanesbrands Inc. said Thursday Executive Chairman Lee A. Chaden will retire from the company at the end of the year, but will continue to serve as nonexecutive chairman.

Chaden, who has served as executive chairman since April 2006, will step down on Dec. 29.

After serving as chief executive since 2004, Chaden was named executive chairman to help prepare for Hanesbrands' Sept. 2006 spinoff as an independent public company.

Chaden, 65, joined Hanesbrands in 1991 when former parent Sara Lee Corp. bought Playtex Apparel Inc., where he served as leader of the company's North American earning.

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