Drapers reported that Sweaty Betty’s chief executive Julia Straus and chief operating officer, Mark Smith, would step down this summer following the brand’s takeover by Wolverine Worldwide. A search is underway to fill the positions.
Wolverine Worldwide acquired the women’s activewear brand for approximately £300m in August 2021. Wolverine said in a media statement, “Sweaty Betty confirms that after five years at Sweaty Betty and growing the business threefold, CEO Julia Straus has taken the tough decision to leave the company to enable her to move back to the United States with her husband later this year and raise their daughters closer to family.
“Julia will continue in the role until June, playing a key part in selecting her successor and will also be actively involved in the handover period beyond that to ensure a seamless transition period. COO Mark Smith has also decided that this year is the right time to leave Sweaty Betty to pursue new opportunities. Mark joined the business in 2011 and has overseen a retail expansion of the brand from 15 stores to 90 plus stores in that time and a tenfold revenue growth. Mark will also stay in position over the summer to oversee the interview process for his successor and an extremely smooth transition overall.”
Straus took over the helm of Sweaty Betty in June 2019 after joining in July 2018 as managing director. Before Sweaty Betty, she was chief executive at the skincare brand Tula for three years.
Smith took the position of chief operating officer at the sportswear retailer in September 2018 and was previously managing director and finance director at the Vietnamese restaurant chain Pho.