GOLETA, Calif. - Deckers Brands (NYSE: DECK), known for its portfolio of footwear and lifestyle brands, announced a forthcoming change in leadership. Dave Powers is set to retire from his role as President and Chief Executive Officer on August 1, 2024. Stefano Caroti, currently Chief Commercial Officer, is poised to succeed Powers following a Board-conducted succession planning process.
Powers, who has been with Deckers since 2012, will continue to lend his expertise to the company as a member of the Board of Directors until the 2025 Annual Meeting of Stockholders. During his tenure, Powers has been credited with driving significant growth and increasing shareholder value, particularly through the expansion of the UGG and HOKA brands.
Mike Devine, Chairman of the Board, expressed gratitude for Powers' contributions and leadership. He said, "Dave has fostered each of our brands so that they have become consumer favorites, capitalizing on market trends and dramatically increasing shareholder value throughout his tenure." Devine also welcomed Caroti as the incoming President and CEO, highlighting his extensive industry experience and pivotal role in steering Deckers' omnichannel and regional operations, as well as the HOKA brand.
Caroti, who joined Deckers in April 2023, brings over three decades of experience in the industry, with previous senior roles at PUMA and NIKE, Inc. His transition into the CEO role will be supported by Powers over the next six months to ensure a smooth handover. Caroti underscored his commitment to Deckers' strategic direction and the continued innovation of products that resonate with consumers globally.
The information in this article is based on a press release from Deckers Brands.
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