Dave Powers to
Retire as President and Chief Executive Officer, Effective
August 1, 2024
Chief Commercial Officer Stefano Caroti
to Become President and CEO
GOLETA,
Calif., Feb. 1, 2024 /PRNewswire/ -- Deckers
Brands (NYSE: DECK), a global leader in designing, marketing, and
distributing innovative footwear, apparel, and accessories, today
announced that Dave Powers has
decided to retire as President and Chief Executive Officer,
effective August 1, 2024. Powers is
expected to continue serving as a member of the Company's Board of
Directors (the "Board") through the 2025 Annual Meeting of
Stockholders. Stefano Caroti, the
Company's Chief Commercial Officer, will be appointed President and
Chief Executive Officer, effective upon Powers' retirement. His
appointment follows a thorough succession planning process
conducted by the Board, assisted by a leading executive search
firm. Deckers also expects Caroti will be nominated to serve as a
member of the Board at the 2024 Annual Meeting of Stockholders.
"For more than a decade, Dave has played an instrumental role in
building Deckers into the leader it is today," said Mike Devine, Chairman of the Board. "Dave has
fostered each of our brands so that they have become consumer
favorites, capitalizing on market trends and dramatically
increasing shareholder value throughout his tenure. On behalf of
the entire Board and management team, I thank Dave for his
outstanding leadership over the last decade and wish him the best
in his retirement. We look forward to continuing to benefit from
Dave's insights as CEO in the coming months, and then as a
director."
"Serving as CEO of Deckers has been a great honor, and I am
incredibly proud of our accomplishments to date," said Powers.
"Since joining Deckers in 2012, we have experienced explosive
growth driven by incredible – and still increasing – brand heat
across UGG and HOKA. Our organization has proven to be incredibly
resilient, and we have worked with agility to continuously achieve
our goal of doing good and doing great. I'm confident Deckers will
continue to excel throughout this transition and into the future
with Stefano at the helm, and I wish all my colleagues the best as
we begin our next chapter."
Devine continued, "We are thrilled to name Stefano as our next
President and CEO. Stefano has extensive industry experience and
has seamlessly led our Omni-Channel, Regional and HOKA brand
operations during some of Deckers' most pivotal years. He has been
a key member of the executive team helping to craft and progress
our consumer-focused strategy and inclusive, engaged culture.
Stefano's demonstrated success and passion for our values make him
the clear choice to lead Deckers into the future."
"It is a privilege to step into this role as we continue to
build on Deckers' strong momentum," said Caroti. "Over the
next six months, I look forward to working with Dave, who is a
great mentor, colleague and friend, to continue executing on our
strategy and ensure a smooth transition. With our experienced
management team, dedicated employees, and innovative products that
resonate with consumers around the world, Deckers is well
positioned to continue cutting through a highly competitive
marketplace and take advantage of the many opportunities
ahead."
Caroti has over 32 years of industry experience in general
management, sales, retail, product, marketing, business strategy
and brand management. He was appointed as Chief Commercial Officer
of Deckers in April 2023, after
serving as the Company's President of Omni-Channel for nearly eight
years and as Interim President of HOKA. Prior to joining Deckers,
Caroti was the chief commercial officer and managing director at
PUMA and held a number of senior executive positions at NIKE, Inc.
including vice president of EMEA commerce, vice president of EMEA
footwear and general manager for Germany and Italy. He received a B.A. with honors from
Middlebury College.
About Deckers Brands
Deckers Brands is a global leader in designing, marketing, and
distributing innovative footwear, apparel, and accessories
developed for both everyday casual lifestyle use and
high-performance activities. The Company's portfolio of brands
includes UGG®, HOKA®, Teva®, Sanuk®, and Koolaburra®. Deckers
Brands products are sold in more than 50 countries and territories
through select department and specialty stores, Company-owned and
operated retail stores, and select online stores, including
Company-owned websites. Deckers Brands has 50 years of history
building niche footwear brands into lifestyle market leaders
attracting millions of loyal consumers globally. For more
information, please visit www.deckers.com.
Forward Looking Statements
This press release contains forward-looking statements within
the meaning of the federal securities laws. Forward-looking
statements in this press release relate to the expected timing and
impact of the executive transition, the future composition of the
Board of Directors, and the Company's ability to build on its
momentum, compete in the marketplace, and achieve its financial and
strategic objectives. You can identify forward-looking statements
by the use of words such as "may," "will," "could," "anticipate,"
"expect," "intend," "believe," "continue," or the negative of such
terms, or other comparable terminology. Forward-looking statements
include the assumptions underlying or relating to such statements.
The Company has based these forward-looking statements largely on
its current expectations and projections about future events and
trends that we believe may affect its business, results of
operations and financial condition. The outcomes of the events
described in these forward-looking statements are subject to risks,
uncertainties and other factors described under the heading "Risk
Factors" in the reports the Company files with the Securities and
Exchange Commission. The Company cannot assure you that the events
and circumstances reflected in the forward-looking statements will
be achieved or occur, and actual results could differ materially
from those expressed or implied in the forward-looking statements.
The forward-looking statements made in this press release relate
only to events as of the date of this press release. The Company
undertakes no obligation to update any forward-looking statement to
reflect events or circumstances after the date on which the
statement is made.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/deckers-brands-announces-ceo-succession-plan-302051286.html
SOURCE Deckers Brands