Steve Madden names Zine Mazouzi as chief financial officer
Footwear, accessories and apparel brand Steve Madden has announced the promotion of Zine Mazouzi, currently chief accounting officer and senior vice president of finance and operations, to the role of chief financial officer, effective January 1, 2021.
He succeeds Arvind Dharia, who will serve in an advisory capacity through 2021 to ensure a smooth transition. Dharia has served as Steve Madden’s CFO since October 1992.
Mazouzi, who began his work with Steve Madden in 2019, brings over 20 years of experience in the footwear industry to his new role, as well as a proven record in corporate finance, financial planning and analysis, operations, strategic planning and risk management, Steve Madden said.
Prior to joining Steve Madden, he served in various leadership roles at Sears Holdings Corporation, including head of Sears and Kmart footwear, home and fine jewelry and chief financial officer of Sears and Kmart footwear.
Previously, Mazouzi held several leadership roles at Nine West Group, including chief financial officer and senior vice president of finance, wholesale and international F&A.
“We are excited to have Zine, who has been part of our leadership team for the past two years, step into the chief financial officer role," said Edward Rosenfeld, chairman and chief executive officer.
"His strong financial, operational and leadership experience – combined with his deep understanding of footwear, accessories and retail – will help Steve Madden drive profitable growth and create value for shareholders over the long term.”
"I look forward to continuing to work closely with the leadership team to execute our strategic growth initiatives while maintaining our strong financial position," added Mazouzi.
In October, Steve Madden announced a 30.9% decrease in its third-quarter revenues as the brand, like so many others, has seen its business negatively impacted by the Covid-19 pandemic.
For the third quarter ended September 30, 2020, the company, which owns brands including Steve Madden, Dolce Vita and Betsey Johnson, reported sales of $346.9 million, down from $502.1 million in the prior-year period.
The company’s wholesale business posted the biggest decline, with revenues in the channel falling 32.7% to $283.8 million. This reflected a 32.5% decrease in wholesale footwear and a 33.3% decline in wholesale accessories and apparel.
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