<span style="color: #6e6e6e;">Diane Sullivan, Caleres’ long-time CEO, will retire effective January 15, 2023. The company announced the news on Monday.
Jay Schmidt, president of Caleres, will succeed Sullivan as chief executive officer, with Sullivan moving to the role of executive chairman.
In her new role, Sullivan will continue to lead the company’s board of directors while partnering with Schmidt and Caleres’ leadership team on strategic initiatives.
“Diane transformed Caleres from a company that sells shoes to one that builds brands and connects with consumers while at the same time markedly changing the financial performance of the company,” said Ward Klein, lead independent director of Caleres. “She skillfully evolved the company’s portfolio, leading the acquisition and incubation of numerous brands, including Sam Edelman, Allen Edmonds and Vionic, all three of which are now lead assets for the company. Notably, the company’s earnings per share steadily increased six-fold over Diane’s tenure as CEO. The board is delighted that she has agreed to accept the new executive chair role, where she can continue to use her strategic abilities and vast industry knowledge to help lead the company forward.”
Schmidt was named Caleres president in December 2020 and assumed responsibility for consumer and brand strategy for Caleres’ brand portfolio, which includes notables Famous Footwear, Allen Edmonds, Naturalizer, Sam Edelman, and Vionic. Before that, he was division president of Caleres brand portfolio. He joined the company in 2009 following more than 25 years working in merchandising, portfolio management and brand marketing, ten years of which he worked for the Nine West Group, Lord & Taylor, May Merchandising Corporation, and Macy’s.
”I am humbled and excited for the opportunity to lead Caleres and build on the strong foundation that Diane has established,” said Schmidt. “I feel fortunate to have had the privilege to collaborate with Diane as we charted a strategic course for ongoing success. I look forward to working with the entire Caleres team as we leverage our powerful portfolio of brands and our deep knowledge of the consumer to drive further progress across our key strategic initiatives and deliver exceptional value for all our stakeholders.”
Photo courtesy Caleres, Diane Sullivan, Jay Schmidt
