Dr Martens, the iconic British footwear brand, has announced that its Chief Financial Officer (CFO) Jon Mortimore will be retiring from his position after seven years. Mortimore will remain in his role until a successor is found, with the company having already commenced an external search for his replacement.
Dr Martens, the iconic British footwear brand, has announced that its Chief Financial Officer (CFO) Jon Mortimore will be retiring from his position after seven years. Mortimore will remain in his role until a successor is found, with the company having already commenced an external search for his replacement.
Mortimore joined Dr Martens in April 2016 and has overseen a period of significant growth for the company, with revenue increasing from £230 million to £1 billion. He also played an integral role in the company’s initial public offering (IPO) in January 2021. Prior to his time at Dr Martens, Mortimore was CFO at Liberty Living, Avant Homes Group and Travelodge, and finance director at WHSmith for over two years.
Paul Mason, Dr Martens’ chair, said: “On behalf of the board, I would like to thank Jon for his central role in driving the strong growth and strategic development of Dr. Martens over the last seven years. His knowledge of the business and understanding of the company’s value drivers have played a key part in helping develop the business during this period. We also want to thank him for his careful stewardship of the finance function, in particular during the pandemic period, which is testament to his dedication and exceptional hard work. We wish him well in his retirement.”
Mortimore added: “I am proud of the progress that Dr. Martens has achieved during my time as CFO since 2016 and I look forward to seeing further growth and success in the years to come. This is a great company with an incredible brand and passionate people, and I believe it has a very exciting long-term future ahead of it. I will be retiring once my successor is in place but until then, I will continue to support Dr. Martens in my role as CFO.”
The announcement of Mortimore’s retirement comes as Dr Martens posted full-year revenue growth of 10%, with Q4 rising by 6%. The company attributed operational issues in its US warehouse to earnings being impacted, with wholesale revenues falling 4%, as the company was forced to open temporary warehouses as the LA issues were being resolved.
Sources: https://internetretailing.net/dr-martens-cfo/
