Wolverine Worldwide Names Mike Maloney Chief Product Officer of Its Work Group
According to the Rockford, Mich.-based shoe company, Maloney will spearhead product development, merchandise strategy and market expansion initiatives for all brands within the Work Group, including Wolverine, Cat Footwear, Bates, Harley-Davidson Footwear, Merrell Work and Hytest. He will report directly to Tom Kennedy, president of the Work Group.
“Mike’s expertise will be instrumental in driving our Work Group vision forward, enabling us to maximize our portfolio approach through his expertise across merchandising, product innovation, and strategy,” Kennedy said in a statement. “Additionally, Mike’s consumer-first approach and experience in casual and athletic brands will advance our ability to grow in adjacent categories, most prominently lifestyle.”
Maloney joins Wolverine from Designer Brands where he most recently served as vice president and general manager of new and owned brands division – which include the Hush Puppies, Crown Vintage, Le Tigre, Kelly & Katie and Mix brands. Prior to Designer Brands, he held positions at Under Armour, Adidas and Columbia Sportswear.
“I’m excited to join the team at Wolverine Worldwide during such a pivotal moment for the organization,” added Maloney. “The direction we are taking in product innovation and brand strategy aligns seamlessly with my vision of creating footwear that truly enhances the lives of our consumers. I look forward to leveraging my extensive experience to elevate our Work Group brands and develop cutting-edge solutions for the dedicated individuals who depend on our footwear every day as well as create demand-driving products that allow us to reach new consumers.”
Maloney’s appointment comes just one month after Wolverine Worldwide named Susie Kuhn as president of the company’s Active Group. In her role, Kuhn is now responsible for leading Merrell, Saucony and Chaco, as well as the company’s Collective initiative.
Earlier this month, Wolverine Worldwide ended Q3 with revenue of $440.2 million, down 16.6 percent from $527.7 million the same time last year. Ongoing total revenue in Q3 – which excludes the impact of sold assets – was $440.1 million, a decrease of 7.0 percent from $473.3 million the prior year period.
Looking ahead, the company raised its guidance slightly and now expects total revenue from its ongoing business to be approximately $1.730 billion to $1.745 billion for the full fiscal year 2024.