Sweaty Betty owner appoints CEO

Wolverine Worldwide, the parent group of activewear retailer Sweaty Betty, has promoted Christopher Hufnagel to the role of president and chief executive.

He succeeds Brendan Hoffman, who has left the company.

Hufnagel joined the retail group in 2008 and has worked in a number of leadership roles, including as president of Wolverine’s Active Group, responsible for a number of brands.

He was most recently president of the Wolverine brand.

Tom Long, chairman of the Wolverine Worldwide board of directors, said, “Chris has a demonstrated track record of successfully building global brands, and he has a deep understanding of the company, our people, and our priorities. We are confident in the company’s overarching strategy and in Chris and the team’s ability to execute it with substantially enhanced urgency and boldness.”

The appointment follows the company recently reporting a fall in revenue of 17.4% to $589.1m (£464.1m) in its second quarter.

Mike Stornant, chief financial officer of Wolverine Worldwide, recently said: “The trading environment is challenging, especially in global wholesale channels where order demand has slowed as retailers manage their businesses more cautiously. As a result, we have reduced our revenue and earnings outlook for the back half of the year.”