- Push-out Score determined
- After almost 15 years in the position
- Accolades, praise and thanks for Krueger
- Brendan Hoffman taking over
- Krueger will remain as Executive Chairman at Wolverine
- Krueger said 78 words
(exechange) — Rockford, Michigan, June 23, 2021 — Blake Krueger, chief executive of Wolverine, leaves his post. His departure is made public at an early stage. As announced by Wolverine World Wide Inc. in a news release and in a regulatory filing published on Wednesday, June 23, 2021, Blake W. Krueger leaves his post as chief executive officer at the footwear manufacturer after almost 15 years in the role, effective December 31, 2021.
Blake Krueger’s duties as CEO will be taken over by Brendan L. Hoffman, currently President at Wolverine World Wide Inc.
No reason given
In the announcement, Wolverine did not explicitly explain the reason for the move.
Krueger will remain as Executive Chairman at Wolverine
“As part of the transition, Krueger will assume the newly created role of Executive Chairman of Wolverine Worldwide,” Wolverine said.
Wolverine said: “Hoffman will succeed Blake Krueger, who began his career with the Company in 1993 and has been CEO since 2007 and Chairman of the Board since 2009.”
Wolverine further said: “On June 18, 2021, the Board of Directors (the “Board”) of Wolverine World Wide, Inc. (the “Company”) appointed Brendan L. Hoffman, the Company’s President and a member of the Company’s Board of Directors, to succeed Blake W. Krueger as the Chief Executive Officer of the Company, effective as of the end of the year.”
Share price increase since June 2016
The announcement follows an increase in Wolverine World Wide Inc.’s share price of 82% since June 2016.
In the position of CEO since 2007
Blake Krueger became CEO of the Company in 2007.
As Executive Chairman, Krueger will continue to lead Wolverine Worldwide’s Board of Directors and will partner with Hoffman on key international and strategic initiatives.
Krueger is Chairman of Wolverine Worldwide, a position he assumed in January 2010, and Chief Executive Officer of Wolverine Worldwide, a position he assumed in April 2007.
He also served as President of Wolverine Worldwide from April 2007 until September 2020.
From October 2005 until April 2007, Krueger served as President and Chief Operating Officer of Wolverine Worldwide.
From 2004 to October 2005, he served as Executive Vice President and Secretary of Wolverine Worldwide and President of its Heritage Brands Group.
From 2003 to 2004, Krueger served as Executive Vice President and Secretary of Wolverine Worldwide and President of the Company’s Caterpillar Footwear Group.
He also previously served as Executive Vice President, General Counsel and Secretary of Wolverine Worldwide with various responsibilities including the human resources, retail, business development, accessory licensing, mergers and acquisitions and legal areas.
Krueger serves as a director of Bissell Homecare, Inc., a privately held company and leading brand of floor care appliances.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Blake Krueger’s move on a scale of 0 to 10.
exechange reached out to Wolverine and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 26.2021 ($).