Referenced Symbols
DOCS
12.63%
Dr Martens shares jumped 15% on Thursday as the struggling boot maker confirmed its current chief brand officer Ije Nwokorie will take up his new job as CEO in January, in a shakeup investors hope could revitalize consumer appetite for the company’s iconic Airwair shoes.
Nwokorie, who is set to take over from incumbent CEO Kenny Wilson on Jan. 6, has been pitched as a potential saviour of Dr Martens, which has seen its stock lose 86% of its value since its 2021 initial public offering.
Dr Martens’
DOCS
12.63%
shares, listed on the London Stock Exchange, increased by 15% on Thursday, even as the shoemaker reported a sharp 18% drop in its revenue in the first half of 2025 to £324.6 million ($411 million).
The slide in the British footwear seller’s first half sales saw it perform slightly better than it expected, with Dr Martens having previously predicted it would post a 20% drop in revenue over the first half of the financial year 2025.
Nworkorie, who worked his way up to become CEO of brand consultancy Wolff Ollins before carrying out a six year stint as a senior director in Apple’s retail division, was named as Dr Martens’ new CEO in April this year.
Dr Martens’ shares jump 15% on new CEO’s start date despite drop in first half sales
Source: Dr Martens’ shares jump 15% on new CEO’s start date despite drop in first half sales
