REG - Dr. Martens PLC - CEO succession

Dr MartensAnnouncement

16/04/2024 07:00

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RNS Number : 7054K  Dr. Martens PLC  16 April 2024

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.

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