Rothy's Appoints New Lead Executive Officer

Rothy's Appoints New Lead Executive Officer

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Stephen Hawthornthwaite and Roth Martin, co-founders of Rothy's, bid adieu to their roles as CEO and president, respectively, as the brand prepares for a new era.

Jenny Ming, a seasoned retail prodigy and a current board member, has taken the CEO helm. Simultaneously, Dayna Quanbeck, the brand’s CFO and COO, has bolstered her responsibilities to also include the role of president. Hawthornthwaite transitions to chair of the board, and Martin assumes the mantle of chief creative and innovation officer as per a recent announcement.

A Look Back and Ahead

Rothy's initiates 2024 with a leadership revamp, bringing in a seasoned retail ace to head the shoes brand. Ming, who joined Rothy's board in 2022, boasts over three decades of retail experience. She started with Gap Inc in 1986 and, among other accolades, was instrumental in forming Old Navy as its president. Her impressive resume also includes stints as president and CEO at Charlotte Russe and board memberships with Poshmark, Levi Strauss & Co., Affirm, Kendra Scott, and Kaiser Foundation Health Plan & Hospitals.

Quanbeck, who stepped into Rothy's fray as CFO in 2019, became a board member in 2022 and later expanded her purview to include COO duties in late 2022. Prior to Rothy's, Quanbeck held key financial positions at Charlotte Russe. She will continue managing the brand's finance, logistics, data analytics, retail, international, and technology divisions.

In a statement, Hawthornthwaite expressed that "Building Rothy's has been an unparalleled journey for Roth and me. After laying the groundwork for long-term, sustainable growth, we believe it's the ideal time to empower our talented team to carry Rothy's into the future. Jenny's extensive track record in scaling global retail businesses, coupled with Dayna's profound knowledge of our operations, make this an exceptional team to drive the next chapter of Rothy's."

Under Ming and Quanbeck's leadership, Rothy's boasts a female-dominated executive team, which includes, aside from Heather Archibald (Chief Product and Merchandising Officer), Jamie Gersch (Chief Marketing Officer), Heather Howard (Chief Supply Chain Officer), Marie Satterfield (Chief Legal Officer and Corporate Secretary), and Michelle Velasquez Pulido (Senior Vice President of People), as per the announcement.

The executive shakeup follows an investment from Alpargatas, a Brazilian footwear company, in late 2021. Alpargatas stated it would acquire a 49.9% stake in Rothy's and inject $200 million in primary capital, along with acquiring roughly $275 million in Rothy's shares, resulting in a post-investment valuation of $1 billion for Rothy's.

Rothy's extended its international market reach to serve 19 markets last year and opened three new stores. The brand plans to open 10 additional stores this year, expand its wholesale presence, and grow globally.

1. In 2024, technology divisions, retail, and international markets of Rothy's will be under Dayna Quanbeck's management, as she assumes the roles of both CFO and COO.
2. The scaling of Rothy's global retail businesses will be entrusted to Jenny Ming, the seasoned retail prodigy who took over as CEO in 2024.
3. The finance and logistics of Rothy's will continue to be supervised by Dayna Quanbeck, who was appointed president in addition to her existing roles.
4. Stephen Hawthornthwaite, one of the co-founders of Rothy's, will lead the brand into the future as the chair of the board.
5. Roth Martin will focus on creativity and innovation as the chief creative and innovation officer of Rothy's.
6. The finance sector will observe a significant change in 2024 with Rothy's securing an investment of $200 million from Alpargatas, a Brazilian footwear company.
7. The business landscape in 2024 will witness a remarkable change in the footwear industry with Rothy's opening 10 additional stores and expanding its wholesale presence.
8. Amid this leadership revamp, Rothy's executive team is dominated by women, including role holders like Heather Archibald, Jamie Gersch, Heather Howard, Marie Satterfield, and Michelle Velasquez Pulido.

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