Anne Cavassa, who joined Saucony as the brand’s first woman president in May 2018 after more than 20 years working for the likes of Brooks Running, Timberland, Nike, and Reebok Intl., recently left Wolverine Worldwide (WWW). Senior company executives disclosed her departure during last week’s earnings conference call. Chris Hufnagel, president of WWW’s Active Group, will fill the gap in the interim.
In Q1, Saucony sales rose by 21 percent on a reported basis to $133 million on gains in performance running and early progress on a recent brand pivot designed to reach more active and lifestyle consumers. Also, Wolverine continues to see growth opportunities for the label’s Originals business, which continues to be robust in Europe and is said to have strong potential elsewhere in the world, including the U.S. In FY22, Saucony’s revenues increased by 6 percent to $505 million.
WWW’s president and CEO Brendan Hoffman told analysts that the process for naming Cavassa’s successor is “well underway.”
