This
announcement contains inside information.
16 April 2024
Dr. Martens
plc
CEO
succession
Dr. Martens plc ('the Company')
announces that Kenny Wilson has decided that this will be his final
year as Chief Executive Officer (CEO) of the Company. As part of an
orderly succession plan, and following a thorough search process,
the Board is delighted to announce that Ije Nwokorie, currently
Chief Brand Officer (CBO), will succeed Kenny as CEO. Kenny and Ije
will work together to ensure a smooth handover, with Ije becoming
CEO before the end of the current financial year. Ije will remain
as CBO in the meantime, with his focus being on the brand and
driving demand ahead of the important AW24 season.
Paul Mason, Chair, said "Kenny's
contribution to Dr. Martens has been immense. He has spear-headed a
brand-first DTC-driven strategy, achieving significant growth, with
pairs more than doubling during his tenure. With his focus on
product, brand and custodianship he has instilled a strong culture
through the organisation. I am grateful that he will ensure an
orderly transition to Ije over the coming year, alongside our
incoming CFO Giles Wilson."
Lynne Weedall, Senior Independent
Director and Chair of the Nomination Committee, said "Ije is an
inspirational leader and his experience in helping drive DTC-led
growth at Apple will be highly relevant in the coming years. He
knows the Company well, having been a Non-Executive Director for
three years and we are already benefiting from his brand expertise
since he joined as CBO in February. We are delighted that he will
be the next CEO."
Kenny Wilson, CEO, said, "Dr.
Martens is an incredible brand powered by our fantastic people.
After six years in the role, I feel that the time is right to hand
over this year, and I am excited that Ije will be my successor. I
have enjoyed working with Ije, both as a Board member and in the
executive leadership team in recent months, and I have seen his
brand knowledge and passion first-hand. I look forward to working
with him closely in the year ahead."
Ije Nwokorie, CBO, said, "I am
thrilled that I will be the next CEO of Dr. Martens. We have a
phenomenal brand, an excellent product range and a passionate
culture. I am looking forward to working with Kenny through this
transition year."
This
announcement has been made in accordance with the requirements of
9.6.11 of the UK Listing Rules. The Company confirms that there is
no further information required to be disclosed pursuant to
paragraph 9.6.13 of the UK Listing Rules.
Enquiries
Investors and analysts
Bethany Barnes, Director of Investor
Relations
Bethany.Barnes@drmartens.com
+44 7825
187465
Beth Callum, Investor Relations
Manager
Beth.Callum@drmartens.com
+44 203 995 2644
Press
H/Advisors Maitland
+44 207 379 5151
Katharine Spence
+44 7384 535739
Gill Hammond, Director of
Communications
+44 7384 214248
This announcement contains inside information. The person
responsible for arranging the release of this announcement on
behalf of the Company is Emily Reichwald, Company
Secretary.
Notes to editors
Ije Nwokorie was a Non-Executive
Director on the Board from January 2021 until early 2024, when he
joined the business as Chief Brand Officer, with responsibility for
product, marketing and strategy. Ije was previously at Apple Inc,
where he was Senior Director, Apple Retail from January 2018. Prior
to this he spent 11 years at global brand consultancy Wolff Olins,
where he was latterly CEO, leading teams in offices in San
Francisco, London, Dubai and New York. He is currently also Chair
of non-profit organisation charity: water UK.
About Dr. Martens
Dr. Martens is an iconic British
brand founded in 1960 in Northamptonshire. Produced originally for
workers looking for tough, durable boots, the brand was quickly
adopted by diverse youth subcultures and associated musical
movements. Dr. Martens has since transcended its working-class
roots while still celebrating its proud heritage and, six decades
later, "Docs" or "DM's" are worn by people around the world who use
them as a symbol of empowerment and their own individual attitude.
The Company is a constituent of the FTSE 250 index.