Wolverine appoints new chairman, adds to board

By

Benjamin Fitzgerald

Published
Mar 22, 2023

Wolverine World Wide Inc. announced that its chairman and retired CEO, Blake Krueger, will be retiring from the board on May 4. Tom Long, the board’s lead independent director, has been appointed to serve as the new chairman.

Long joined Wolverine Worldwide’s board in 2011 after a 30-year career that included serving as CEO of MillerCoors, CEO and chief marketing officer of Miller Brewing Company, and in several senior global and marketing roles at Coca-Cola. He was appointed lead independent director of wolverine Worldwide’s board in 2022, and previously served as chair of the compensation committee.

“On behalf of the board of directors, I would like thank to Blake for his many years of dedication and service to the Company and its shareholders,” said Long.

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“During his long tenure the company transformed from a traditional footwear wholesaler into a consumer-focused, global organization with one of the world’s largest portfolios of footwear and lifestyle brands. I am honored to succeed him as Chairman as part of our planned leadership transition.”

“It has been an absolute privilege and honor to have served Wolverine Worldwide for the past 30 years, and to have played a role in the company’s successful 140-year history,” said Krueger. “I am excited about the Company’s future and know that under Brendan’s leadership and the strategic guidance of Tom and the Board of Directors, and with the efforts of our global team, Wolverine Worldwide and its shareholders are in great hands and well-positioned for continued growth and success.”

In addition to naming of the new chairman, Wolverine also announced the appointment of Stacia Andersen, Jodi Bricker, and DeMonty Price to its board of directors, effective as of March 14.

Moreover, David McCreight, a director since 2019, announced his resignation from the board, effective May 4, 2023.

In its most recent trading update in late February, ​Wolverine clocked annual revenues $2.7 billion, up 11.2% versus the prior year and up 14.1% on a constant currency basis. For the fourth quarter ending December 31, The Rockford, Michigan-based company recorded a 4.6% increase in revenues, and growth of 8.4% on a constant currency basis.