By Deckers Outdoor, the California-based maker of Hoka and Ugg shoes, has announced that its longtime Chief Executive and President, Dave Powers, will be leaving the company after nearly four years. As his successor, the company has named Stefano Caroti, who has been serving as the chief commercial officer since April. The appointment of Caroti follows a thorough succession planning process and will take effect on August 1.
Deckers expects Caroti to be nominated to its board at the upcoming annual shareholder meeting, highlighting his extensive industry experience and successful leadership of the company’s Omni-Channel, Regional, and HOKA brand operations. Chairman Mike Devine expressed confidence in Caroti’s ability to drive further growth and success for the company.
Meanwhile, outgoing CEO Powers will continue to serve as a board director until the 2025 annual shareholders meeting. This smooth transition in leadership comes at a time when Deckers posted record revenue of $1.56 billion, marking a 16% increase compared to the prior year. Such positive financial performance has also led the company to raise its guidance for the 2024 fiscal year.
This leadership change signals a new phase for Deckers Outdoor, with Caroti poised to lead the company towards future achievements in the footwear industry.
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