Brown Shoe Company, Inc. (NYSE: BWS), (www.brownshoe.com)
has promoted Diane M. Sullivan to the position of President and Chief
Executive Officer effective May 26, 2011. Ron Fromm, the company's
Chairman and Chief Executive Officer, will remain Chairman of the Board
following a transition period lasting through the company's annual
shareholders' meeting in May 2011.
This leadership change is the result of a thorough 18-month succession
planning process conducted by Brown Shoe's Board of Directors.
Ron Fromm said, "The Board and I determined Diane is the clear choice to
succeed me as CEO based on our shared values, integrity and passion for
our customers, our alignment in strategy and her proven track record at
Brown Shoe. Diane has been my partner for seven years, and my friend for
even longer. We've built tremendous momentum at Brown Shoe over the past
five quarters, and I believe this is the right time for Diane and our
terrific leadership team to take the company to a new exciting level of
growth. I am proud of the accomplishments of the Brown Shoe team during
my tenure as CEO, particularly of the talent we've assembled around the
globe."
Sullivan joined Brown Shoe in 2004 as President and added the role of
Chief Operating Officer in 2006. She was first elected to Brown Shoe's
Board of Directors in 2007. Sullivan's tenure has been marked by
strategic enhancements to the company's brand portfolio including the
growth of Famous Footwear to $1.5 billion; the development of a $250
million contemporary footwear business; the evolution of flagship
women's brand Naturalizer to a global multichannel business and
significant growth in Dr. Scholl's; and collaborations with six-time
Grammy award-winning artist and actress Fergie and designer Vera Wang.
She drove investments in Brown Shoe's global sourcing network, product
development and design talent, resulting in design and technology
innovations that create an even better footwear experience for
consumers. Before joining Brown Shoe, Sullivan served as Vice Chairman
of the Footwear Group for Phillips-Van Heusen from 2001 to 2004. She
established herself in the footwear industry at a pair of leading
companies, serving as President and Chief Operating Officer for Stride
Rite Corporation, where she worked from 1995 until 2001, and, prior to
that, as Vice President, Product and Marketing for The Rockport Company.
Fromm's career with Brown Shoe spans almost 30 years, and he was named
Chairman, Chief Executive Officer and President in 1999. He has been
instrumental in Brown Shoe's transformation to a global footwear
marketer and its growth from $1.5 billion to $2.5 billion in sales.
Fromm fostered a culture of talent and diversity, spearheading the
addition and development of key marketing, design, and executive talent
throughout the organization.
"Ron has established a tremendous legacy, and his vision for this
company has revolutionized how we market footwear and connect with
consumers. In our time at Brown Shoe he has offered me equal parts
education, collaboration and inspiration – a relationship I know will
continue to thrive in our new roles. We have created a highly-talented
organization and will work to continue building positive momentum for
Brown Shoe's healthy living, family and contemporary fashion strategies
by delivering great footwear and engaging store experiences to our
customers," Sullivan said.
About Brown Shoe Company, Inc.
Brown Shoe is a $2.5 billion global footwear company. Brown Shoe's
Retail division operates Famous Footwear, a leading family branded
footwear destination with over 1,100 stores nationwide and e-commerce
site FamousFootwear.com,
approximately 260 specialty retail stores in the U.S., Canada, and China
primarily under the Naturalizer brand name, and footwear e-tailer shoes.com.
Through its wholesale divisions, Brown Shoe designs and markets leading
footwear brands including Naturalizer, Dr. Scholl's, Franco Sarto,
LifeStride, Etienne Aigner, Sam Edelman, Via Spiga, Vera Wang Lavender
and Buster Brown. Brown Shoe press releases are available on the
Company's website at www.brownshoe.com.
