ROCKFORD, Mich., April 19 /CNW/ -- Wolverine World Wide, Inc. (NYSE: WWW)
today announced that Blake W. Krueger, 53, President and Chief Operating
Officer became Chief Executive Officer and President, pursuant to the
succession plan previously approved by the Company's Board of Directors.
Krueger succeeds former CEO Timothy J. O'Donovan, 61, who was reelected
Chairman of the Board.
"I am extremely pleased to announce this important step, which will
enhance our leadership team and strengthen our organization for continued
global growth," said O'Donovan. "Blake has been an integral driver of the
Company's expanded global presence and evolution into a billion dollar
enterprise which markets branded lifestyle footwear and apparel. His vast
experiences at Wolverine have given him first-hand knowledge of nearly every
aspect of the Company and the dynamic landscape of lifestyle consumer brands."
Krueger most recently served as President and COO of Wolverine World Wide
and has been a Director of the Company since July 2006. Previously, he served
as President of the Heritage Brands Group, one of the Company's four branded
global operating units, where he spearheaded the successful revitalization of
the global Caterpillar Footwear business that has led to significant sales and
profit increases over the past several years. Prior to that position, he
served for 10 years as an Executive Vice President and Officer of the Company
with responsibilities for the human resources, retail, business development,
accessory licensing, acquisitions and legal areas.
"I have had the opportunity to work with Tim since beginning my career at
Wolverine," said Krueger. "I look forward to continuing that working
relationship and benefiting from Tim's guidance and counsel as Chairman of the
Under O'Donovan's leadership, Wolverine World Wide increased global
footwear sales from approximately 37 million pairs in 1999 to nearly 47
million pairs in 2006. During the same time period, the Company significantly
expanded its operations in North American and Europe, and increased its
portfolio of brands' presence from 132 countries to nearly 180 countries
around the globe. Also during this time, the market capitalization of
Wolverine expanded from $385 million to more than $1.6 billion.
In his new role, O'Donovan said he will focus on working closely with
Blake and the management team as the Company continues building a portfolio of
global lifestyle brands and pursues the significant opportunities that lie
With a commitment to service and product excellence, Wolverine World
Wide, Inc. is one of the world's leading marketers of branded casual, active
lifestyle, work, outdoor sport and uniform footwear and apparel. The
Company's portfolio of highly recognized brands includes: Bates(R), Hush
Puppies(R), HYTEST(R), Merrell(R) Footwear and Apparel, Sebago(R) and
Wolverine(R) Footwear and Apparel. The Company is also the exclusive footwear
licensee of popular brands including CAT(R), Harley-Davidson(R) and
Patagonia(R). The Company's products are carried by leading retailers in the
U.S. and globally in nearly 180 countries. For additional information, please
visit our website, http://www.wolverineworldwide.com.
For further information:
For further information: Christi Cowdin of Wolverine World Wide, Inc.,
+1-616-866-6271 Web Site: http://www.wolverineworldwide.com