It was a big year for changes at the top of the footwear industry.
According to executive outplacement firm Challenger, Grey & Christmas Inc., 1,824 CEOs left their posts in the first 10 months of 2024 — a 19 percent increase from the same time period in 2023 and the highest total for that time frame since the company started tracking exits in 2002.
Within footwear and retail, CEO departures abounded for a variety of reasons. In some cases, executives moved on to new opportunities. In others, boards decided to bring on a new face to help facilitate change at a faster pace.
Below are some of the biggest CEO changes in footwear that occurred this year.
Elliott Hill, a company veteran of 32 years, succeeded John Donahoe as the CEO of Nike in October.
The executive shift followed a wave of analyst and investor scrutiny directed at Donahoe and the downward direction of Nike’s recent performance. Throughout 2024, Nike continued to lose share in crucial categories like running and had been criticized for its lack of innovative products. In December, Nike announced a new round of layoffs — which have been taking effect this year — in tandem with a plan to cut costs improve its innovation pipeline.
Hill served in several leadership roles at the Swoosh before retiring in 2020. His latest appointment announcement was met with praise from employees and The Street, though analysts cautioned that it could take several quarters for him to fix the company’s longstanding issues. Since he rejoined Nike, Hill has focused his efforts on reinvigorating the wholesale channel as well as improving innovation and company culture.
In March, Stephanie Linnartz stepped down from her role as president, chief executive officer and a member of the board at Under Armour, effective April 1. She was replaced by Kevin Plank, the brand’s founder and former CEO.
During her nearly one-year tenure at Under Armour, Linnartz made several changes to the brand’s internal team, including the hiring of Yassine Saidi as chief product officer and Kara Trent president of the Americas. She also appointed Jim Dausch as chief customer officer, Shawn Curran as chief supply chain officer, John Varvatos as head of design and Amanda Miller as chief communications officer.
Linnartz also spearheaded a strategy she called Protect This House 3, which was designed to raise awareness of the Under Armour brand, deliver elevated designs and products to boost U.S. sales and maintain the company’s momentum overseas.
After taking Deckers Brands to new heights as president and chief executive officer, Dave Powers announced in February that he would step down from his post in August. Stefano Caroti, the company’s chief commercial officer, took over for Powers upon his retirement.
Powers joined Deckers as president of direct-to-consumer in August 2012. He was then appointed president of omni-channel in January 2014, later becoming the company’s president in March 2015. He took over as CEO in June 2016. Dave Powers was inducted into the Hall of Fame at the 38th annual FN Achievement Awards in December.
Allbirds co-founder and chief executive officer Joey Zwillinger stepped down from the role in March and remained with the company as a member of the board of directors and special advisor. The company elevated chief operating officer Joe Vernachio to the CEO role and added him to the board of directors
The CEO transition came at a crucial time for Allbirds, when it was one year into its business turnaround plan it outlined in March 2023. This strategy focused on revamping product, optimizing U.S. distribution and store profitability, re-evaluating its international strategy and improving cost savings.
Jim Weber, the longtime CEO of Brooks, stepped down from the role in March after 23 years. Under his leadership, Brooks transformed from a company that was close to bankruptcy — which he addressed in his book, “Running With Purpose: How Brooks Outpaced Goliath Competitors to Lead the Pack” — into a billion-dollar brand. Brooks president and chief operating officer Dan Sheridan replaced Weber in April.
In October, the Seattle-based performance running brand reported that it surpassed $1 billion in global revenue year to date through September, marking the first time the company has hit the major milestone prior to the start of its fourth quarter.
Toms chief executive officer Magnus Wedhammar announced in October that he had accepted a new role as CEO of Moovlab, a company that makes technology for “active seating” to improve the lives of people while they are sitting.
Wedhammar joined Toms in 2020 shortly after founder Blake Mycoskie and private equity firm Bain Capital ceded control of the brand to a group of creditors to provide debt relief to the shoe company, which had been dogged by negative credit ratings and bankruptcy rumors. Wedhammar helped the brand execute a turnaround which, in part, included pivoting away from relying too much on the Alpargata.
Allbirds’ former chief transformation officer Jared Fix joined as Toms’ CEO in July.
Scott Cutler, who held the chief executive officer role at StockX for more than five years, announced in November that he would step down from the post at the end of the year. He will be replaced by Greg Schwartz, the co-founder, president and chief operating officer of StockX.
During Cutler’s time at StockX, the marketplace experienced rapid growth and it focused on category expansion, the entry into new markets and growing its ever-expanding consumer base into the millions. Cutler also managed the company through the pandemic, and amid several macroeconomic challenges over the past five years, oversaw several restructurings. At the start of 2024, StockX underwent a round of layoffs that impacted dozens of employees.
Boot Barn president and chief executive officer Jim Conroy stepped down in late November to become CEO of Ross Stores, effective Feb. 2, 2025. He served as president and CEO of Boot Barn since 2012.
In his place, John Hazen, the company’s chief digital officer, assumed the role of interim CEO.
Despite the change in leadership, Wall Street was still optimistic about the chain’s long term trajectory. William Blair analyst Dylan Carden said in an October note to investors that “the company is in a good position here following a decisive inflection and proven traction in new markets for a successor to execute against the remaining 500-store opportunity.”
Following a turbulent tenure packed with profit warnings, and a decline in sales in the U.S., its largest market, Kenny Wilson stepped down as chief executive officer of Dr. Martens plc. The footwear company said it named Ije Nwokorie, currently chief brand officer, to succeed Wilson. Both executives will work together until Wilson steps down at the end of the financial year.
Rothy’s in January tapped retail veteran Jenny Ming as chief executive officer. With this change, Rothy’s cofounder Stephen Hawthornthwaite stepped down from his role as CEO but remained on as a chairman of the board, advising on key strategies.
Ming, who has been on the Rothy’s board since 2022, built her reputation at Gap Inc., which she joined in 1986 and where she held various executive roles, most notably as cofounder (along with Mickey Drexler) and president of Old Navy from 1993 through 2006. She was instrumental in the impressive national rollout of Old Navy in the U.S. and Canada. Ming later served as president and CEO of Charlotte Russe from 2010 to 2019. She currently serves on the boards of Levi Strauss & Co., Kendra Scott, and Kaiser Foundation Health Plan & Hospitals.
Clarks chief executive officer Jonathan Ram left the company in April after two years at the helm. When contacted by FN, a Clarks spokesperson said that Ram made the decision to leave the company to “pursue other opportunities.”
Ram joined Clarks in April 2022 after serving as the group president for global activewear at Hanesbrands Inc. Prior to that, he spent 16 years in various roles at New Balance, culminating in serving as executive vice president of North America.
At the time of his appointment, Ram was the fourth person to take on the top executive role at Clarks in the last four years, excluding interim leaders in the position.
