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Wolverine World Wide names new Chief Legal Officer

EditorEmilio Ghigini
Published 04/30/2024, 06:44 PM
WWW
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ROCKFORD, Mich. - Wolverine World Wide, Inc. (NYSE: NYSE:WWW), a global leader in branded footwear and apparel, announced the appointment of Dave Latchana as Chief Legal Officer and Corporate Secretary. Latchana, a long-serving member of the company with nearly 16 years of experience, will oversee legal, compliance, corporate communications, risk management, ESG, and security and loss prevention functions.

Latchana joined Wolverine Worldwide in 2008 as Corporate Counsel and has since held multiple senior roles, including Associate General Counsel and Assistant Secretary. Prior to his current appointment, he served as Vice President of Executive Compensation, Global Benefits, and Corporate Communications from 2021 to 2024. Since January 2024, he has fulfilled the role of Interim General Counsel.

Chris Hufnagel, President and Chief Executive Officer of Wolverine Worldwide, praised Latchana's leadership and his comprehensive understanding of the company's business and industry. Hufnagel expressed confidence in Latchana's ability to contribute to the company's ongoing transformation plan through his legal and industry expertise.

In response to his appointment, Latchana expressed his honor in continuing his career with Wolverine Worldwide and his eagerness to support the company's strategy and potential, citing the company's portfolio of brands and collaborative culture.

Wolverine World Wide, Inc., founded in 1883, has a diverse portfolio that includes Merrell®, Saucony®, Sweaty Betty®, Hush Puppies®, Wolverine®, Chaco®, Bates®, HYTEST®, and Stride Rite®. The company also holds global footwear licenses for Cat® and Harley-Davidson (NYSE:HOG)®.

With a history spanning over 140 years, Wolverine Worldwide's products are distributed by leading retailers in the U.S. and around the world in roughly 170 countries and territories.

This announcement is based on a press release statement from Wolverine World Wide, Inc.

InvestingPro Insights

Amidst the strategic leadership changes at Wolverine World Wide, Inc. (NYSE: WWW), investors and market watchers are keeping a close eye on the company's financial health and stock performance. According to real-time data from InvestingPro, Wolverine World Wide is currently navigating through some challenging financial metrics. The company's market capitalization stands at $857.44 million, reflecting its scale in the branded footwear and apparel market. However, a closer look at the company's profitability reveals a Price to Earnings (P/E) ratio of -21.08, indicating that the company has been facing losses in recent periods.

InvestingPro Tips suggest that Wolverine World Wide is expected to see net income growth this year, which could signal a turnaround from previous performance. Additionally, the company has managed to maintain dividend payments for 37 consecutive years, showcasing its commitment to shareholder returns despite recent financial pressures. This resilience in dividend payments could be a point of confidence for investors looking for stable income. Meanwhile, analysts have revised their earnings expectations downwards for the upcoming period, hinting at potential headwinds the company may face.

From a stock performance perspective, Wolverine World Wide has experienced a significant price uptick over the last six months, with a 35.98% total return, and a strong return over the last three months at 29.5%. This recent momentum may intrigue investors looking for growth opportunities, although it's important to note the company's stock price is currently at 60.17% of its 52-week high, reflecting some volatility in the market's valuation of the company.

For those considering an investment in Wolverine World Wide, or simply looking to stay informed on the company's financial trajectory, InvestingPro offers additional insights and metrics. There are more InvestingPro Tips available to help you make a well-informed decision. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, and delve into the comprehensive analysis that InvestingPro provides.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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