Wolverine World Wide, Inc. (NYSE: WWW), which operates one of the world’s largest portfolios of lifestyle and footwear brands, announced several senior leadership appointments today to help drive future growth and accelerate its global brand-building efforts. These leadership appointments are the next step in the evolution of the Company and build on the strategic transformation work initiated last year.
The Company is naming Chris Hufnagel, President of Wolverine Worldwide, responsible for leading and driving strategy across the Company’s portfolio of footwear brands, along with leading its consumer marketing and insights teams.
Mr Hufnagel’s 14-year career with the Company has included serving as Global Brand President of CAT Footwear, Global Brand President of Merrell, and most recently as President of the Company’s Active Group, with responsibility for Merrell, Saucony, Chaco, Kids Group, and Global Licensing. In earlier roles at Wolverine Worldwide, he was President of Direct-to-Consumer and Corporate Senior Vice President and Head of Strategy. Before joining the Company, Mr Hufnagel held senior leadership roles at Under Armour, Gap, and Abercrombie & Fitch. As the Company’s President, Mr Hufnagel will continue to report to Brendan Hoffman, Wolverine Worldwide’s Chief Executive Officer.
“Our strategy for long-term growth includes building stronger brands that resonate more meaningfully with our consumers around the globe,” said Mr Hoffman. “Chris’ diverse and broad experience as the leader of our largest global brands make him the best choice to lead the implementation of this strategy across our entire footwear brand portfolio as President and take a broader leadership role at the Company.”
“I’m thrilled to become Wolverine Worldwide’s next President,” said Mr. Hufnagel. “I look forward to being employed with our incredible team across our amazing portfolio of brands to drive sustainable growth for the Company – leading with product innovation and building even stronger connections with our consumers worldwide.”
Wolverine Worldwide also announced two key brand leadership appointments – promoting Janice Tennant as Global Brand President of Merrell and Rob Griffiths as Global Brand President of Saucony.
Ms Tennant has served as Chief Marketing Officer of Merrell since 2020 after joining the Company as Chief Marketing Officer of CAT Footwear in 2018. She has received several industry awards, most recently being named to Forbes Magazine’s “2023 Entrepreneurial CMOs 50” list. Before joining the Company, Ms Tennant held a series of senior marketing and other roles with Kimberly-Clark and PepsiCo. She will report to Mr. Hufnagel.
Mr Griffiths has served Wolverine Worldwide as Managing Director of EMEA since 2021, responsible for leading the Company’s commercial operations in this vital region. Earlier, he obeys as Vice President and General Manager of Merrell in EMEA and Vice President and General Manager of Lifestyle Brands in EMEA. Before joining Wolverine Worldwide in 2013, Mr Griffiths spent 15 years with global brands Esprit and Umbro. He will report to Mr. Hufnagel.
“Merrell and Saucony are two of the brands we believe have the largest global growth potential within the portfolio, and we intend to focus our efforts and investments on these key brands,” said Mr Hoffman. “I’m extremely excited to promote Janice and Rob, and I am confident these strong, experienced leaders will help drive our global strategy and position Wolverine Worldwide for long-term success.”
FORWARD-LOOKING STATEMENTS
This press delivery contains forward-looking statements, including statements regarding the Company’s expectations concerning the Company’s growth, global brand-building strategies and long-term success, and the Company’s intention to focus efforts and investments on critical brands with the most significant growth potential. In addition, words such as “estimates,” “anticipates,” “firm,” “forecasts,” “step,” “plans,” “predicts,” “focused,” “projects,” “outlook,” “is likely,” “expects,” “intends,” “should,” “will,” “confident,” difference of such words, and similar expressions are studied to spot ahead-looking statements. These notifications are not guarantees of future performance and require certain risks, uncertainties, and assumptions (“Risk Factors”) that are hard to predict regarding timing, extent, likelihood, and degree of occurrence. Risk Factors include, among others:
The risk is that the Company can successfully implement its growth and profit improvement strategies.
The effects of the COVID-19 pandemic or other health crises and containment efforts on the Company’s business, operations, financial results and liquidity, including the duration and magnitude of such effects.
Changes in general economic conditions, employment prices, business order, interest rates, tax policies, inflationary pressures and other factors affect consumer spending in the markets and regions where the Company’s products are sold.
The inability to effectively compete in global footwear, apparel and direct-to-consumer markets.
The incapacity to maintain positive brand images and anticipate, understand and answer to changing footwear and apparel trends and consumer preferences.
The failure to effectively manage inventory levels.
Increases or changes in duties, tariffs, quotas or applicable assessments in import and export countries.
Foreign currency exchange rate fluctuations.
Currency restrictions.
Supply chain or other capacity constraints, production disruptions, quality issues, price increases or other risks associated with foreign sourcing.
The cost and availability of raw materials, inventories, services and labor for contract manufacturers.
Labor disruptions.
Changes in relationships with, including the loss of, significant wholesale customers.
