World Footwear


Toms appoints new CEO

Feb 3, 2020 United States
Toms appoints new CEO
Magnus Wedhammar, former GM of Sanuk, a footwear brand belonging to the portfolio of Deckers Outdoor Corporation, was appointed as Toms' new CEO
Between July 2016 and December 2019, Wedhammar served as  VP and GM at Sanuk. Before that he was a Senior VP of product at Sperry from September 2014 to June 2016. He also worked at Converse in several positions during a period of 12 years, with his last position being VP, Converse All-Star.

Back in December, we reported that Toms was being taken over by its creditors from Founder Blake Mycoskie and private equity firm Bain Capital as part of a debt exchange - READ ALL HERE. The group of creditors, led by Jefferies Financial Group Inc, Nexus Capital Management LP and Brookfield Asset Management Inc. agreed to invest 35 million US dollars in Toms to show their commitment and support its future growth.

Credit rating agencies have been raising concerns regarding Toms ability to repay a 300 million US dollars loan due in 2020 without renegotiating its debt.

Photo courtesy of Toms

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