Columbia eyes double-digit growth with senior changes
05/03/2015
CEO Tim Boyle said: “Strong momentum behind each of our largest brands drove our global net sales to more than $2.1 billion in 2014 and is expected to fuel continued double-digit currency-neutral growth in 2015. The leadership changes that we are announcing today are intended to position us to secure the significant global growth potential that we believe exists within each of the brands in our portfolio.”
Bryan Timm, a 17-year company veteran who has served as executive vice president and chief operating officer since October 2008, has been promoted to president and COO. He will also direct the brand leaders at the company’s Mountain Hardwear brand and the recently-acquired prAna brand.
Peter Bragdon has been promoted to the new title of executive vice president, chief administrative officer and general counsel.
Tom Cusick has been promoted to the new role of executive vice president of finance and chief financial officer.
Mr Boyle said: “Bryan, Peter and Tom have each been driving forces behind the company’s growth for more than a decade. I’m highly confident in their leadership abilities, and in their commitment to working closely with me to continue strengthening our brands to drive sustainable, profitable growth.
“The Columbia and Sorel brands are our largest and fastest growing brands today. In recognition of this momentum, and in order to better focus the company’s resources to pursue each brand’s potential, we are realigning our merchandising and design organization to create brand-specific go-to-market teams for each brand.”
Joe Boyle has been appointed to the newly-created position of vice president of merchandising and design. Mark Nenow has been appointed to the new position of president of the Sorel brand.
“Joe and Mark have deep personal affinities for their respective brands and understand the unique needs of each brand’s core consumers,” added Mr Boyle. “I am very confident in their ability to drive continued growth through the Columbia and Sorel brands.”
Columbia Sportswear Company designs and markets apparel, footwear, accessories and equipment under the Columbia, Sorel, Mountain Hardwear, prAna, and Montrail brands. Global net sales of apparel grew 22% to nearly $1.7 billion in 2014 and, on a currency-neutral basis, are expected to generate double-digit percentage growth in 2015. Global net sales of footwear grew 37% to $425 million in 2014 and, on a currency-neutral basis, are expected to surpass $500 million in 2015.
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