SAN FRANCISCO - Allbirds, Inc. (NASDAQ:BIRD), a company known for its eco-friendly footwear and apparel, announced the appointment of its Chief Operating Officer, Joe Vernachio, as the new Chief Executive Officer, effective March 15, 2024. Vernachio will also join the company's Board of Directors, which will expand to eight members.
Joe Vernachio, who has been with Allbirds as COO since June 2021, will succeed Joey Zwillinger, the co-founder and current CEO. Zwillinger will remain engaged with the company as a member of the Board and will serve as a special advisor.
Vernachio brings a wealth of experience to his new role, with a career spanning nearly four decades in the retail industry. Prior to Allbirds, he was the President of Mountain Hardwear, Inc., where he led the company to a period of growth and profitability following a phase of declining sales. His tenure at Allbirds has seen him take on increasing responsibilities, particularly in the past year, as he oversaw commercial and international functions in addition to operations.
In his statement, Zwillinger expressed confidence in Vernachio's leadership, highlighting his contributions to the company's strategic transformation plan and alignment with Allbirds' mission. Dick Boyce, Lead Independent Director at Allbirds, echoed this sentiment, acknowledging Zwillinger's contributions and welcoming Vernachio's expertise and industry experience.
Vernachio's appointment comes at a time when Allbirds has been implementing key initiatives to enhance its operational efficiency, such as reducing inventory, transitioning to a distributor model in international markets, and assuming full control over product development.
Allbirds, based in San Francisco with New Zealand origins, has been committed to sustainability and innovation since its launch in 2016. The company has gained recognition for its use of environmentally friendly materials and manufacturing processes.
The information for this article is based on a press release statement.
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