Dr Martens appoints new CEO from within its ranks

Dr Martens

Dr Martens has promoted chief brand officer Ije Nwokorie to CEO, succeeding Kenny Wilson, who will step down before the end of March next year after six years in the role.

Just two months after starting in the newly-created chief brand officer position, Nwokorie has been promoted. Before joining Dr. Martens, he was a non-executive director at the business. He came to the footwear brand from Apple Retail, where he was a senior director starting in January 2018.

As the chief brand officer, Nwokorie's current role involves overseeing the global marketing, product, and strategy functions. He is also responsible for setting the overall brand strategy, vision, and direction for Dr. Martens.

He will remain in his role as chief brand officer until the transition, with a primary focus on the brand and generating demand for the upcoming autumn/winter 2024 season.

Nwokorie and Wilson will collaborate to facilitate a seamless handover before Nwokorie officially steps into the CEO position by the end of the 2025 financial year.

Wilson believes it is the right time to pass on the responsibility. He mentions that he has enjoyed working with Ije on the board and in the executive team. Wilson has witnessed Ije's brand knowledge and passion and looks forward to collaborating closely with him in the coming year.

Nwokorie expresses excitement about the company's exceptional brand, product range, and passionate culture. He is eager to work with Kenny during this transition period.

We have a phenomenal brand, an excellent product range and a passionate culture.

Ije Nwokorie, Dr Martens

The footwear and clothing brand has announced a change in leadership ahead of revealing its FY24 results on 30 May. The company expects the results to meet expectations.

Although the company raised prices twice in 2023, sales in its core markets improved. However, revenue and profit for the six months ending in September were lower compared to the previous year, primarily due to decreased volume sales in the US.

The company is expecting a decrease in US wholesale revenue by double digits for FY25. Wilson acknowledges that the outlook for next year is tough, with the organization's main focus being on reviving demand for boots. This effort is particularly concentrated in the US, which is the company's biggest market.

Wilson acknowledges that the nature of wholesale in the USA is such that our business performance will see a significant improvement when customers have confidence in the market. However, he clarifies that we are not assuming this will happen in FY25.

In June 2023, Wilson openly admitted that our performance in the US had been lacking. This was mainly attributed to a shift in marketing focus in the region, leading us to move away from our core product, boots.

At the time, Nwokorie was hired to help with this marketing focus and tasked with making Dr Martens’ marketing “the cleanest it’s ever been in terms of communicating with customers”.

Editor's P/S:

The article provides an overview of Dr. Martens' recent leadership changes, with Kenny Wilson stepping down as CEO and Ije Nwokorie taking over the role. As the newly appointed chief brand officer, Nwokorie has demonstrated exceptional leadership qualities and a deep understanding of the brand's identity. His experience at Apple Retail and his non-executive director role at Dr. Martens have equipped him with valuable insights into brand management, product development, and strategic planning.

Despite facing challenges in the US market, Dr. Martens remains optimistic about its future prospects. The company's focus on revitalizing demand for boots, particularly in the US, is a testament to its commitment to its core product and customer base. The collaboration between Nwokorie and Wilson during the transition period will ensure a smooth handover and continuity in the company's strategic direction.