According to Securities and Exchange Commission filing (SEC) submitted by the footwear brand this week, Allbirds co-founder and co-CEO Tim Brown is set to transition out of the role of co-CEO. Brown will now hold the non-executive role of co-founder and chief innovation officer. Joey Zwillinger (current co-CEO) is to be the sole CEO. The change is effective immediately.
This is the latest in a series of reshufflings in the Allbirds executive team, with Annie Mitchell appointed as chief financial officer in March and several promotions to its executive team in December 2022.
Earlier this week, Allbirds completed its first full year as a public company by reporting a $25.5 million operating loss versus an operating loss of $6.4 million in the period ended Dec. 31. The group has initiated a new transformation strategy that is expected to re-accelerate sales and profit growth in 2024 after a transitional FY23.
