Wolverine Worldwide Announces Leadership Appointments Aimed At Driving Global Growth And Accelerating Transformation Initiatives
As President of the
Commenting on the announcement, Mr. Krueger said, "Todd is one of the best brand builders in the industry with a proven track record as a growth driver and strategic thought leader. He possesses a deep understanding of consumers and knows how to deliver product innovation and compelling marketing. We are extremely excited to have a leader of Todd's caliber join the Company, as we continue to strengthen what I believe is the best team in the industry."
In the newly created position of Executive Vice President,
"During this past year, we were laser-focused on operational excellence," Mr. Krueger said. "This work paid off in the fourth quarter of 2016, helping the Company deliver revenue and adjusted earnings per share in line with our expectations. Looking ahead, our new strategic platform, the WOLVERINE WAY FORWARD, is focused on driving future growth by better aligning Wolverine Worldwide with today's consumer and global marketplace. Jim Zwiers is one of our most seasoned executives, and he will lead this transformation effort – building on the strong foundation of our operating model. I couldn't be more excited about the direction of the Company. We enter the new year with optimism, a clear strategic direction, and an even stronger team to lead us forward."
RESULTS ARE PRELIMINARY
As the Company has not completed its quarter and year-end fiscal close process and the audit of its 2016 financial statements is not complete, the revenue and adjusted earnings per share expectations presented in this press release are preliminary, and, therefore, may change due to final year-end closing adjustments. The preliminary financial results discussed in this release are based solely upon information available as of the date of this release, are not a comprehensive statement of our financial results or positions as of or for the fourth-quarter and full fiscal-year 2016, and have not been audited, reviewed or compiled by our independent registered accounting firm.
ABOUT WOLVERINE WORLDWIDE
With a commitment to service and product excellence,
This press release contains forward-looking statements, including statements regarding the Company's new strategic platform, the Company's ability to drive future growth and align with consumers and the global marketplace, and the improved strength of Wolverine's team. In addition, words such as "guidance," "estimates," "anticipates," "believes," "forecasts," "step," "plans," "predicts," "projects," "is likely," "expects," "intends," "should," "will," "confident," variations of such words, and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties, and assumptions ("Risk Factors") that are difficult to predict with regard to timing, extent, likelihood, and degree of occurrence. Risk Factors include, among others: changes in general economic conditions, employment rates, business conditions, interest rates, tax policies and other factors affecting consumer spending in the markets and regions in which the Company's products are sold; the inability for any reason to effectively compete in global footwear, apparel and consumer-direct markets; the inability to maintain positive brand images and anticipate, understand and respond to changing footwear and apparel trends and consumer preferences; the inability to effectively manage inventory levels; increases or changes in duties, tariffs, quotas or applicable assessments in countries of import and export; currency fluctuations; currency restrictions; capacity constraints, production disruptions, quality issues, price increases or other risks associated with foreign sourcing; the cost and availability of raw materials, inventories, services and labor for owned and contract manufacturers; labor disruptions; changes in relationships with, including the loss of, significant wholesale customers; the failure of the
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/wolverine-worldwide-announces-leadership-appointments-aimed-at-driving-global-growth-and-accelerating-transformation-initiatives-300402758.html
Chris Hufnagel, (616) 863-4865