Rockford, Michigan-based footwear and apparel brand, Wolverine World Wide, announced that Brendan Hoffman is no longer the Chief Executive Officer of the company. Taking his place is Christopher Hufnagel, a long-time executive at Wolverine who has been with the company since 2008. With an impressive background in leadership roles at well-known retailers such as Under Armour and Gap, Hufnagel brings a wealth of experience to his new position.
“The board has full confidence in Wolverine’s potential and ability to deliver significant shareholder value in the long term,” stated Chairman Tom Long. Long also expressed faith in the company’s overall strategy and highlighted Hufnagel’s capacity to execute it with increased urgency and boldness.
Brendan Hoffman had assumed the role of CEO of Wolverine in early 2022. However, since then, the company’s stock has experienced a decline of 47% over the past 12 months. Requests for comment from The Wall Street Journal were left unanswered by Hoffman. Nevertheless, Chairman Tom Long conveyed well wishes for Hoffman’s future endeavors.
