The Strategist

Dr. Martens announces upcoming change of CEO

04/17/2024 - 08:14

Kenny Wilson, the CEO of Dr. Martens Plc, a footwear firm headquartered in the United Kingdom, announced in a press release that he would retire prior to the end of the current fiscal year, which started in April.

Ije Nwokorie, the chief brand officer of Dr. Martens, will take over as CEO.

According to a press statement, the shoe manufacturer will reveal its FY 2024 results on May 30. These results are expected to meet the company's own projections.

According to Dr. Martens' projection for FY 2025, the company's revenue in the United States will decrease at double-digit percentage rates. Furthermore, the organization anticipates a rise in expenses and plans to allocate resources towards staff retention and benefits.

Tuesday's trading saw a 28% decline in the value of Dr. Martens shares in London. Their value has decreased by 58% in the last 12 months.


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