Dive Brief:
- Wolverine World Wide has appointed Bishu Jayaram as its chief supply chain officer, a newly created role for the footwear company.
- In this position, Jayaram will be responsible for global sourcing, distribution, logistics and integrated planning, per a Thursday release. Wolverine said this will be a critical role for the company’s “ongoing transformation into a consumer-obsessed growth company.”
- The hire comes as Wolverine undergoes corporate changes. It fired its former CEO Brendan Hoffman in August, and it announced a global workforce restructure in November.
Dive Insight:
Jayaram was most recently Wolverine’s senior vice president of global sourcing, where he led sourcing activities for all product categories across Wolverine’s brand portfolio, which includes Sperry and Hush Puppies in its lifestyle division, Merrell and Saucony in its active division, and Wolverine and Cat in its work group.
Prior to Wolverine, Jayaram worked at VF Corp., where he led sourcing for all footwear, equipment and packs in Asia and led the global material supply for all apparel, footwear and equipment, per the release. He also had stints at Avery Denison, Adidas and Gap Inc.
Jayaram will report to Chris Hufnagel, Wolverine’s president and CEO.
“Bishu has a proven track record of successfully navigating complex supply chain landscapes and implementing innovative strategies and has led the Company’s sourcing organization during a period of unprecedented supply chain volatility,” Hufnagel said in the release. “His appointment aligns well with our commitment to enhancing operational efficiency, building great brands across the globe, and transforming us into a consumer-obsessed growth company.”
Along with Jayaram’s promotion, the company announced Jim Zweirs, who had been with the company for 25 years, was transitioning away from Wolverine in early 2024. Zweirs was most recently the executive vice president of Wolverine’s Global Operations Group. He has held various roles including president of the outdoor and lifestyle group, president of the international group and general counsel. He also led the company’s mergers and acquisitions function, per the release.
Wolverine’s restructuring plan, announced in November, could deliver $215 million in annual savings, according to the company. It’s meant to stabilize the business by divesting the company’s noncore assets, reducing inventory, paying debt and right-sizing its cost structure.
The company has been “exploring strategic alternatives” for the Sperry brand since May. More recently, it sold its Hush Puppies trademarks, patents, copyrights and domains in China to sublicensee Beijing Jiaman Dress Co., Ltd. for approximately $58.8 million and sold its U.S. leathers business to New Balance for about $6 million.
In February, Wolverine offloaded the Keds brand to Designer Brands.
via https://www.aiupnow.com
Laurel Deppen, Khareem Sudlow
