RUNNING INSIGHT
Changes at the Top At New Balance Joe Preston to become CEO at New Balance; Rob DeMartini will step down at end of year.
L
ong-time New Balance execeutive Joe Preston will take over as president and CEO of New balance on Jan 1, 2019 when Rob DeMartini will step down. DeMartini led New Balance for 12 years and oversaw global growth of the athletic brand from $1.5 billion in 2007 to $4.2 billion in 2018. During that time, New Balance regained a strong position in the specialty running category, expanded international sales to 65 percent from 30 percent and made significant strides in its apparel, retail and e-commerce business. The company also had one of the highest growth rates in the industry in recent years, averaging an 11 percent compound annual growth rate. DeMartini championed the brand’s long-standing commitment to owned-manufacturing and played a key role in working with U.S. government and industry officials to secure implementation of Berry Amendment legislation for athletic footwear. Under DeMartini’s watch, New Balance became much more aggressive with consumer marketing and signing athletes to endorsement deals. “New Balance is a very special company, built on the values of teamwork, integrity and total customer satisfaction established by Jim and Anne Davis,” says DeMartini. “It has truly been a privilege to add to the foundation our ownership established and I will forever be grateful for the warm welcome I was afforded by the Davis Family, our associates and industry partners when I was a newcomer to the world of footwear and apparel.”
“We have an incredible team of associates and partners around the globe and together we will drive even greater speed, agility and innovation in this modern age of retail ...” JOE PRESTON, NEW BALANCE
22
runninginsight.com
Joe Preston will take the helm at New Balance on January 1, replacing Rob DeMartini as president and CEO.
Preston, currently chief commercial officer, began his New Balance career in 1995 as senior product manager, Running and Custom Products. He was named VP– international, Asia/Pacific in 2002, and VP–international in 2005, and was promoted to executive VP–international in January 2008. He was later named to lead the brand’s Global Product, R&D and Sports Marketing. “I’m honored and humbled to take on this role and want to thank Rob for his leadership over the past 12 years,” says Preston. “We have an incredible team of associates and partners around the globe and together we will drive even greater speed, agility and innovation in this modern age of retail and
continue to build this iconic brand while strengthening our purpose-driven culture.” “Joe is an experienced industry leader who knows our customers, partners and consumers well,” adds DeMartini. “He is a talented executive who embraces the brand’s core values and is a great choice to lead New Balance into the future.” DeMartini joined New Balance in May 2007 from Tyson Foods where he was group VP–consumer products. Prior to that, his career at Procter & Gamble spanned more than 20 years, beginning in their Food & Beverage Division and including management roles with the Gillette Company, North American Snacks and Millstone Coffee. n © 2018 Diversified Communications