With the release of its fourth quarter and full year 2023 financial results, Allbirds announced the appointment of Chief Operating Officer Joe Vernachio as its new CEO and member of the Board of Directors, effective March 15, 2024. He succeeds Joey Zwillinger, co-founder and CEO, who will continue to serve as a member of the Board of Directors and as a special advisor to the company. With the addition of Vernachio to the Board, the size of Allbirds’ Board of Directors will increase to eight members.
Vernachio joined Allbirds in June 2021 as COO. In 2023, the company expanded his area of responsibility, giving him oversight of the commercial and international functions in addition to operations. Vernachio has been instrumental in leading key initiatives as part of the company’s operational transformation, including reducing inventory, transitioning to a distribution model in international markets and optimizing distribution in the U.S. He recently assumed full control of product development. In his new role, Vernachio will oversee all operations and continue to drive Allbirds’ strategic transformation plan.
Vernachio has decades of experience in the retail industry and a long track record of building long-lasting brands. Prior to joining Allbirds, he spent four years as president of Mountain Hardwear, where he led a successful turnaround from declining sales and losses to robust growth and profitability. He also spent seven years at The North Face, where he served as VP of Global Product. Earlier in his career, he held various leadership positions at brands such as Patagonia, Nike, Roots, Calvin Klein and Spyder.
“Building Allbirds with my co-founder Tim Brown […] has and continues to be an incredible privilege. I am thrilled to pass the mantle to Joe, who I have been working with for nearly three years,” commented Zwillinger. “We turned to Joe to take on an expanded leadership role, increasing his responsibilities this past year and leveraging his capabilities as we developed our strategic transformation plan. Joe’s expertise has been particularly meaningful as we’ve worked to align our ethos with operational and financial execution. Our mission to make products coveted by consumers and deliver amazing comfort and style without denting the earth is even more important than when we started the company nine years ago. I have every confidence that we have built the foundation for an enduring, multi-generation brand that will thrive in the years to come.”
