Wolverine Worldwide Announces Organizational Changes to Drive Global Brand Building and Growth

Wolverine Worldwide

today announced several key organizational moves to drive its future growth and global brand building following its October 2012 acquisition of the Performance & Lifestyle Group ("PLG"). Highlights include: The Company will migrate from four to three brand Operating Groups. The new Operating Group alignment will maximize brand synergies and leverage global growth opportunities. Veteran Company leaders Ted Gedra, Mark Neal, and Jim Zwiers will lead the new Operating Groups. "The acquisition of the Performance & Lifestyle Group has been transformational for our Company and has created many new opportunities for global growth, brand building, and operational excellence," said Blake W. Krueger, Wolverine Worldwide Chairman and Chief Executive Officer. "Today, we are taking important steps to better align the team and realize our vision of having the best brands, products, operating platform, and consumer experiences in the industry." To accelerate the Company's global growth initiatives and brand-building efforts, the Company will be organized into three Operating Groups – each led by a Group President. The HERITAGE GROUP – comprising of the Wolverine, Caterpillar Footwear, Bates, Sebago, Harley-Davidson Footwear, and HyTest brands – will be led by Ted Gedra. Gedra has been a Group President since 2007 and has held several senior management positions during his 27-year career with Wolverine Worldwide. The LIFESTYLE GROUP – comprising of the Sperry Top-Sider, Stride Rite Children's Group, Hush Puppies, Keds, and Soft Style brands – will be led by Mark Neal. Neal previously served as Group President for Hush Puppies, Soft Style, and Cushe and is adding three PLG brands (Sperry Top-Sider, Stride Rite Children's Group, and Keds) to his responsibilities. He has held senior management roles of increasing responsibility during his 18-year tenure with the Company. The PERFORMANCE GROUP – comprising of the Merrell, Saucony, Chaco, Patagonia Footwear, and Cushe brands – will be led by Jim Zwiers. Zwiers has led the former Outdoor Group since 2009. He has held a variety of senior roles in retail, legal, administration, international, business strategy and development, and global brand leadership during his 15-year career with Wolverine Worldwide. The new Wolverine Worldwide Operating Groups are listed below: Heritage Group Lifestyle Group Performance Group Wolverine® Sperry Top-Sider® Merrell® CAT® Stride Rite® Saucony® Bates® Hush Puppies® Chaco® Sebago® Keds® Patagonia® Harley-Davidson® Soft Style® Cushe® HYTEST®