This year, the footwear and retail industries welcomed a slew of new chief executives.
Many are veterans of the business with strong track records for success, such as Christopher Hufnagel at Wolverine Worldwide and Doug Howe at Designer Brands Inc., as well as Liz Rodbell, who is making a big return to Hudson’s Bay.
Other new CEOs hail from different industries, such as VF Corp.‘s Bracken Darrell and Gap Inc.’s Richard Dickson. At a time when the consumer market for fashion and footwear in the U.S. has stagnated, the prevailing hope is that these so-called outsiders will bring fresh ideas to excite customers. And their talents will be especially tested in the coming year, if economists’ predictions of a recession finally ring true in 2024.
Here are some the new footwear, fashion and retail CEOs appointed this year, who will be instrumental in shaping the industry’s future.
VF Corp.
After a half-year search, VF Corp. announced that industry outsider Bracken Darrell would be its next president and CEO, effective July 17. Darrell most recently served as president and CEO of Logitech International S.A., and previously held international leadership roles at Procter & Gamble as president of Braun, as well as the president of EMEA at Whirlpool Corp. and General Electric.
Darrell replaced interim president and CEO Benno Dorer, who had been in the job since December 2022, when longtime exec Steve Rendle decided to retire as chairman, president and CEO.
The move occurred amid a slowdown for VF. On the firm’s latest earnings call in October, Darrell said he is implementing a strategic business transformation plan at the company, part of which involves revitalizing the struggling Vans brand.
Wolverine Worldwide
After announcing the sudden firing of its CEO Brendan Hoffman in August, Wolverine Worldwide Inc. promoted Christopher Hufnagel, formerly president of the company, to president and CEO. Hufnagel joined Wolverine in 2008 and served in several leadership roles before being named president in May 2023.
In the wake of the move, which occurred in tandem with a weak earnings report for the second quarter and a downgraded full-year outlook, analysts appeared overall positive about Hufnagel’s ability to help ignite growth for the company, which owns the Saucony, Merrell, Sperry and Sweaty Betty brands, among others.
Since taking the reins, Hufnagel has said he’s taking all the “necessary actions” to best position the company for future profitable growth, including closing Wolverine’s Boston headquarters and undertaking a global workforce reduction and reorganization. The company also said it could sell more “non-core assets,” in addition to continuing its strategic review of Sperry.
Converse
When parent company Nike Inc. reshuffled its executive ranks in May (including moving Converse CEO Scott Uzzell to VP/GM of North America for Nike), brand veteran Jared Carver was promoted to the big office at Converse.
Carver officially took on the president and CEO role on June 1, after 12 years with the brand. He most recently served as the VP/GM of North America at Converse.
Carver has his work cut out for him. Like other footwear brands, Converse has been dented by sales declines in North America this year, though that’s been partially offset by growth in Asia, according to Nike’s most recent fiscal first-quarter earnings report.
Designer Brands Inc.
Designer Brands Inc., the parent company of DSW and Camuto Group, kicked off 2023 with major news. As part of a long-term plan, the company revealed that DSW president Doug Howe would succeed Roger Rawlins as CEO, as of April 1.
Howe’s accession came less than a year after joining the footwear company. Before DBI, Howe served as the chief merchandising officer at Kohl’s and held prior leadership positions across merchandising, design, product development and planning at Qurate Retail Group, Old Navy, Walmart and May Department Stores.
He inherited the top job in an especially challenging time for retailers and has spent the year grappling with reduced consumer spending and unfavorable weather conditions.
Gap Inc.
The struggling retailer found its fix-it guy in Richard Dickson, who was named president and CEO of Gap Inc. as of Aug. 22.
Dickson was most recently president and COO at Mattel, where he is credited for leading the company’s corporate transformation, including strategizing around the much-hyped and highly lucrative “Barbie” movie.
Dickson is now in charge of a sprawling specialty retail empire made up of Old Navy, Gap, Banana Republic and Athleta, which had been working without a permanent CEO since former chief Sonia Syngal left abruptly a year ago. And while Gap’s net income and sales were down in the third quarter, investors liked what they saw and expressed optimism Dickson can turn the tide.
Hudson’s Bay
In a surprise move, Liz Rodbell returned to Hudson Bay Co. last month, this time as president and CEO of the Hudson’s Bay division in Canada. She succeeded Sophia Hwang-Judiesch, who according to an HBC announcement, stepped down to pursue another opportunity.
Rodbell is a true department store veteran. She built a successful career at Lord & Taylor, where she worked for 32 years, starting as a dress buyer and eventually becoming president when the retailer was owned by HBC. She also simultaneously served as president of Hudson’s Bay.
The company is hopeful that Rodbell can again work her magic at the department store. Richard Baker, governor and executive chairman of HBC, said last month, “When she was last with the company, Liz drove 22 percent sales growth for Hudson’s Bay.”
Pacsun
Pacsun executive Brie Olson had two pivotal title changes this year.
In March, the teen-favorite retailer announced that Olson would be promoted from president to co-CEO to fill the position left vacant when Alfred Chang moved over to be CEO of Fear of God. At the time, the company said she would serve alongside co-CEO Mike Relich. But just three months later, Olson was named Pacsun’s sole CEO.
In her new leadership role, Olson told FN she’s been committed to “maintaining and strengthening our consumer affinity, both in our physical and digital footprints.” That’s included introducing a fresh design formula reflected in new store openings in Newport Beach and San Diego, Calif.; Atlanta and other locations. She’s also focused on bolstering the internal team with strong hires in merchandising and marketing.
Kohl’s
Retail leader Tom Kingsbury officially got the top job at Kohl’s Inc. in February, after serving as interim CEO for two months. He succeeded Michelle Gass, who left to join Levi Strauss & Co.
Kingsbury previously served as president and CEO of Burlington Stores Inc. until 2019, and in 2021 he was appointed to Kohl’s board of directors as part of an agreement with activist investor Macellum.
On the company’s most recent earnings call, Kingsbury said he’s had four strategic priorities this year: enhancing the customer experience; accelerating and simplifying value strategies; managing inventory and expenses with discipline; and further strengthening the balance sheet. As of Q3, Kohl’s was still in the red, but Kingsbury predicted the company is “set up to be successful in 2024.”
LVMH
As part of a momentous shakeup at LVMH Moët Hennessy Louis Vuitton, Dior head Pietro Beccari moved over to become chairman and CEO of Louis Vuitton as of Feb. 1. The dynamo behind Dior’s growth trajectory since 2018, Beccari succeeded Michael Burke, who stepped away for other responsibilities in the organization. The move marked a return to Vuitton for Beccari, who first joined the leather goods powerhouse from consumer products giant Henkel in 2006, initially as director of strategy and marketing coordination, ultimately taking on responsibility for business units including ready-to-wear and accessories and rising to executive vice president.
To replace Beccari at Dior, LVMH promoted Delphine Arnault to her first CEO role within the luxury giant. The eldest of chairman and CEO Bernard Arnault’s five children, she has been largely a behind-the-scenes power player as Burke’s second-in-command at Vuitton, serving as executive vice president in charge of supervising all of its product-related activities. As the driving force behind the LVMH Prize, Arnault is known for having a strong rapport with designers and fine artists.
Michael Kors
Capri Holdings Ltd. named Cedric Wilmotte as CEO of the Michael Kors brand, effective April 3. The announcement came almost a year after Josh Schulman left his role of CEO of Michael Kors, following only six months with the fashion house, which also owns Versace and Jimmy Choo.
Wilmotte most recently served as COO for Versace and was the interim CEO at the brand between January and September 2022. He led Michael Kors’ EMEA business between 2008 and 2021, but took over the chief exec role at a challenging time. In its fiscal Q2 ended Sept. 30, the brand reported a 9.7 percent decline in revenue on a constant-currency basis, primarily due to softening consumer demand and the implementation of a new e-commerce platform.
In August, Capri Holdings revealed it would be acquired by Tapestry Inc. in a deal expected to close in 2024. So far no statements have been made about the leadership structure of the new joint organization.
DTLR
In September, DTLR announced Todd Kirssin would be its next CEO. Kirssin has been with the streetwear retailer for more than two decades, working his way up from a footwear buyer to president and chief merchandising officer, and now chief executive. He took over a role held jointly by Scott Collins, who stepped down last year, and Glenn Gaynor, who will be exiting in March.
One of Kirssin’s first projects as CEO was overseeing the opening of a new flagship concept in the Spotsylvania Towne Centre in Fredericksburg, Va., which the company calls “Next Gen.”
“This ‘Next Gen’ concept marks the future of DTLR’s retail presence as we look to engage customers not only with our products, but the lifestyle we project, and the communities we serve,” Kirssin told WWD.
Asics North America
Japanese athletic company Asics tapped a familiar face as its president and CEO of North America. In October, it appointed Koichiro Kodama to the role, which he previously held from February 2019 to December 2020. (Since January 2021, he’s been the managing executive officer based in Asics’ headquarters in Kobe, Japan. He will retain that title going forward.)
In a statement in October, Kodama said, “My goal for the region remains unchanged: to set the business up for sustained success and to drive growth of brand value and preference.”
The North America division was most recently led by president and COO Richard Sullivan.
