Allbirds has announced a leadership transition with co-founder Tim Brown shifting from co-chief executive to chief innovation officer.
Joey Zwillinger, the other co-founder, will continue to serve as the sole chief executive of the sustainable footwear brand,.
Brown expressed his support for Zwillinger’s leadership and highlighted his own commitment to the brand’s long-term potential.
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While his title has changed, Brown remains dedicated to driving innovation and propelling the business forward.
In addition to the leadership transition, Allbirds has also decided to terminate 21 corporate positions, accounting for approximately nine percent of its corporate workforce.
Brown told Retail Gazette: “Joey and I, together with the board made the decision to transition my title from co-founder and co-CEO to co-founder and chief innovation officer. I’m looking forward to supporting Joey as he continues to lead the business as our CEO on a day-to-day basis.
“While my role has changed, one thing hasn’t: my long-term focus and belief in the potential of this brand and business. I know both how far we have come and how much further we can go.”
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This follows a previous round of layoffs in August, where eight percent of the global workforce was let go, and a significant reduction in new corporate hires as part of cost-cutting measures.
The adjustments aim to streamline operations and optimize efficiency.
Allbirds faced a decline in fourth-quarter revenues, reporting £69.5 million, a 13 percent decrease compared to the previous year.
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The company’s focus on sustainable footwear has gained popularity, but economic challenges and the impact of the global pandemic have influenced its financial performance.
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