Following a series of results for the first time as a publicly traded company this week, news emerged that two senior executives are leaving Dr. Martens.
Reports of their imminent departure come five months after the company’s IPO saw them earn millions, the Times reported.
Said Chief Marketing Officers Darren Campbell and Sean O’NeillChief Digital Officer, who resigned this year, monetized £ 12.3m and £ 8.3m worth of shares at the stock market listing in January, respectively.
There were few details available around their departure date and plans to replace them, but expect CEO Kenny because their role is clearly crucial to the company. Wilson Replace until, or at least shortly after, the replacement.
Currently, Dr. Martens is riding high. This week we reported a decline in profits for the last year, due to the high costs associated with IPOs. Part of that was that the company handed staff a total bonus of £ 49.1m.
Except for one-off costs, the company’s increase in profits will easily match the increase in sales seen in the pandemic years when shoes are generally struggling globally.
Meanwhile, Dr. Martens has updated its eco-policy with a commitment to use sustainable materials for all footwear by 2040. The company already manufactures “vegan” boots, but the plasticized elements used in them mean that they are eco-friendly.
The Times quoted Wilson as saying that the company met with a biomaterial manufacturer, but such materials “do not yet have the level of durability expected of our boots.” They aren’t there yet, but we’re looking for technology to get there. “
His comments highlight the challenges companies face when trying to make more leather products from non-plastic vegan leather. Earlier this week, Stella McCartney also stated that her challenge with plant-based leather was not about durability, but about softness and comfort.
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Two senior Dr. Martens executives leave
Source link Two senior Dr. Martens executives leave