Industry and company veteran brings decades of
supply chain expertise to help advance strategic transformation
Wolverine World Wide, Inc. (NYSE: WWW)
announced today that it has appointed Bishu Jayaram to serve in the
newly-created role of Chief Supply Chain Officer. This position
will be responsible for global sourcing, distribution, logistics,
and integrated planning – a critical role in driving the Company’s
ongoing transformation into a consumer-obsessed growth company.
Mr. Jayaram, a seasoned executive with over 20 years in supply
chain and sourcing roles, has served as Wolverine Worldwide’s
Senior Vice President of Global Sourcing for the past two years,
leading sourcing activities for all product categories across the
Company’s portfolio of brands. Before joining Wolverine, he spent
six years with VF Corporation in a variety of supply chain
capacities, including leading Asia sourcing for all footwear,
equipment, and packs – while also leading global material supply
for all apparel, footwear, and equipment. Earlier in his career,
Mr. Jayaram held supply chain and costing roles with Avery Denison,
Adidas, and Gap, Inc.
“Bishu has a proven track record of successfully navigating
complex supply chain landscapes and implementing innovative
strategies and has led the Company’s sourcing organization during a
period of unprecedented supply chain volatility,” said Chris
Hufnagel, President and CEO of Wolverine Worldwide, to whom Mr.
Jayaram will report. “His appointment aligns well with our
commitment to enhancing operational efficiency, building great
brands across the globe, and transforming us into a
consumer-obsessed growth company.”
In conjunction with this appointment, the Company also announced
that Jim Zwiers, Executive Vice President and President of its
Global Operations Group, will transition away from Wolverine
Worldwide in early 2024. A 25-year veteran of the Company, Mr.
Zwiers has served in a variety of roles over his career – including
as President of the Outdoor and Lifestyle Group, President of the
International Group, General Counsel, and leading the Company’s
mergers and acquisitions function.
“Jim has dedicated his time and talent to Wolverine Worldwide
for the last 25 years. We thank and recognize him for his many
years of dedicated service to the Company, and wish him only the
very best,” said Mr. Hufnagel.
ABOUT WOLVERINE WORLDWIDE
Founded in 1883 on the belief in the possibility of opportunity,
Wolverine World Wide, Inc. (NYSE:WWW) is one of the world’s leading
marketers and licensors of branded casual, active lifestyle, work,
outdoor sport, athletic, children's and uniform footwear and
apparel. Through a diverse portfolio of highly recognized brands,
our products are designed to empower, engage and inspire our
consumers every step of the way. The Company’s portfolio includes
Merrell®, Saucony®, Sperry®, Sweaty Betty®, Hush Puppies®,
Wolverine®, Chaco®, Bates®, HYTEST®, and Stride Rite®. Wolverine
Worldwide is also the global footwear licensee of the popular
brands Cat® and Harley-Davidson®. Based in Rockford, Michigan, for
140 years, the Company's products are carried by leading retailers
in the U.S. and globally in approximately 170 countries and
territories. For additional information, please visit our website,
www.wolverineworldwide.com.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements,
including statements regarding the Company’s expectations with
respect to: the responsibilities and role of the Company’s Chief
Supply Chain Officer; the Company’s ongoing transformation into a
consumer-obsessed growth company; and the Company’s commitment to
enhancing operational efficiency and building its brands across the
globe. In addition, words such as “estimates,” “anticipates,”
“believes,” “forecasts,” “step,” “plans,” “predicts,” “focused,”
“projects,” “outlook,” “is likely,” “expects,” “intends,” “should,”
“will,” “confident,” variations of such words, and similar
expressions are intended to identify forward-looking statements.
These statements are not guarantees of future performance and
involve certain risks, uncertainties, and assumptions (“Risk
Factors”) that are difficult to predict with regard to timing,
extent, likelihood, and degree of occurrence. Risk Factors include,
among others: the risk that the Company will be able to
successfully implement its growth and profit improvement
strategies; changes in general economic conditions, employment
rates, business conditions, interest rates, tax policies,
inflationary pressures and other factors affecting consumer
spending in the markets and regions in which the Company’s products
are sold; the inability for any reason to effectively compete in
global footwear, apparel and consumer-direct markets; the inability
to maintain positive brand images and anticipate, understand and
respond to changing footwear and apparel trends and consumer
preferences; the inability to effectively manage inventory levels;
increases or changes in duties, tariffs, quotas or applicable
assessments in countries of import and export; 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; the effects of the COVID-19
pandemic and other health crises and containment efforts on the
Company’s business, operations, financial results and liquidity,
including the duration and magnitude of such effects; labor
disruptions; changes in relationships with, including the loss of,
significant wholesale customers; risks related to the significant
investment in, and performance of, the Company’s consumer-direct
operations; risks related to expansion into new markets and
complementary product categories; the impact of seasonality and
unpredictable weather conditions; effects of changes in general
economic conditions and/or the credit markets on the Company’s
distributors, suppliers and retailers; increases in the Company’s
effective tax rates; failure of licensees or distributors to meet
planned annual sales goals or to make timely payments to the
Company; the risks of doing business in developing countries, and
politically or economically volatile areas; the ability to secure
and protect owned intellectual property or use licensed
intellectual property; the impact of regulation, regulatory and
legal proceedings and legal compliance risks, including compliance
with federal, state and local laws and regulations relating to the
protection of the environment, environmental remediation and other
related costs, and litigation or other legal proceedings relating
to the protection of the environment or environmental effects on
human health; the potential breach of the Company’s databases or
other systems, or those of its vendors, which contain certain
personal information, payment card data or proprietary information,
due to cyberattack or other similar events; problems affecting the
Company’s supply chain or distribution system, including service
interruptions at shipping and receiving ports; strategic actions,
including new initiatives and ventures, acquisitions and
dispositions, and the Company’s success in integrating acquired
businesses, and implementing new initiatives and ventures; the risk
of impairment to goodwill and other intangibles; changes in future
pension funding requirements and pension expenses; and additional
factors discussed in the Company’s reports filed with the
Securities and Exchange Commission and exhibits thereto. The
foregoing Risk Factors, as well as other existing Risk Factors and
new Risk Factors that emerge from time to time, may cause actual
results to differ materially from those contained in any
forward-looking statements. Given these or other risks and
uncertainties, investors should not place undue reliance on
forward-looking statements as a prediction of actual results.
Furthermore, the Company undertakes no obligation to update, amend,
or clarify forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20231221469886/en/
Dave Latchana, (616) 863-4226
Wolverine World Wide (NYSE:WWW)
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