Notable Retail CEO Resignations & Exits 2022 Finish of the 12 months Overview – Footwear Information
2022 noticed main CEO shakeups throughout varied industries. And retail was no completely different, with leaders at Adidas, Hole Inc., Below Armour and Puma all exiting the highest government position in 2022.
As of the tip of November, 20 retail CEOs had left their roles, year-to-date, in keeping with a report from government outplacement agency Challenger, Grey & Christmas.
Whereas it is probably not a full-blown exodus, this altering of the guard coincides with broader shifts occurring within the business, comparable to an emphasis on digital development, variety in management and a give attention to a sturdy omnichannel technique.
Right here have been among the largest retail and footwear CEO exits in 2022:
Below Armour
Below Armour president and CEO Patrik Frisk stepped down from his position in June. He took over as president and CEO in January 2020.
Below Armour has initiated an inner and exterior search course of to establish Frisk’s successor, and has appointed COO Colin Browne as interim president and CEO till a successor is known as.
The RealReal
The RealReal founder Julie Wainwright introduced her departure from her position as CEO, chairperson, and member of the board after 11 years in June. Rati Sahi Levesque, The RealReal’s president and COO, and Robert Julian, the corporate’s CFO, have served as co-interim CEOs.
The resale firm’s board retained an government search agency to start a complete search course of to establish a brand new CEO. Wainwright will serve in an advisory position because the founder by way of the tip of 2022.
Caleres
In July, Caleres introduced that Diane Sullivan would transition from CEO to the manager chairman position on Jan. 15, 2023, with Jay Schmidt taking the reins as CEO.
Sullivan spent greater than a decade dramatically evolving Caleres and is likely one of the highest-ranking girls within the business. She lately led the St. Louis-based agency to its best-ever Q1 efficiency and had been CEO since 2011.
The transfer was the fruits of a deliberate succession course of.
Hole Inc.
Hole Inc. in July introduced that its president and CEO, Sonia Syngal, would step down from her position within the firm and on its board, with Hole government chairman Bob Martin serving as interim president and CEO. Syngal served because the CEO of Hole Inc. since March 2020 and had labored on the firm for 18 years, together with as the pinnacle of its Previous Navy enterprise.
The information got here shortly after one other main government shift for the corporate in April, when Nancy Inexperienced stepped down from her position as president and CEO of Previous Navy. Horacio “Haio” Barbeito took over as president and CEO of Previous Navy.
Adidas
Adidas introduced in August that CEO Kasper Rorsted would step down. In November, Adidas confirmed that former Puma chief Bjørn Gulden would step in to function its new CEO, efficient Jan. 1, 2023.
Rorsted was introduced as the CEO of Adidas in January 2016, succeeding 15-year firm veteran Herbert Hainer. He assumed management of Adidas on Oct. 1, 2016, after a two-month transition interval. On the time of the announcement, Rorsted was the CEO of client items maker Henkel AG & Co.
Foot Locker
Johnson assumed the position of CEO in 2014 following the departure of Ken Hicks. Previous to that, Johnson had been with Foot Locker for nearly twenty years.
Johnson will function government chairman of the board by way of Jan. 31, 2023, after which Foot Locker’s lead unbiased director Dona Younger will change him as the corporate’s non-executive chair.
Reebok
Reebok introduced in September that Todd Krinsky would assume the position of CEO, reporting to Sparc Group CEO Marc Miller. Krinsky succeeds longtime chief Matt O’Toole, who will be a part of Reebok proprietor Genuine Manufacturers Group (ABG) in 2023 as its government vice chairman. He’ll work with Krinsky on the transition till that point.
Krinsky has spent 30 years at Reebok, and most lately served as SVP of the Reebok Design Group (RDG), which is its world hub for product design, improvement and innovation.
Puma
In November, Puma CEO Bjørn Gulden, who assumed the highest position in 2013, stated he can be stepping away from the corporate. Later, he introduced his determination to hitch Adidas as CEO.
Puma’s supervisory board appointed 11-year firm veteran Arne Freundt as CEO and chairman of the corporate’s administration board. Freundt’s contract is for 4 years, efficient Jan. 1, 2023.
Kohl’s
Kohl’s in November stated that Michelle Gass would step down from her position as CEO and member of the board of administrators, efficient December 2. She left to hitch Levi Strauss & Co. as president and CEO in ready to interchange president Chip Bergh throughout the subsequent 18 months.
Tom Kingsbury has served as interim CEO of Kohl’s.
VF Company
VF Corp. introduced earlier this month that Steve Rendle would go away his place as chairman, president and CEO of VF Company. Rendle was a 25-year firm veteran who served as CEO for six years.
Benno Dorer, lead unbiased director of the VF board of administrators, was named interim president and CEO, as the corporate undergoes a seek for a successor.
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