// Former New Balance executive Jonathan Ram has joined Clarks as chief executive
// The appointment comes as Clarks owner LionRock Capital strives to rebuild its leadership team after a raft of senior departures
Clarks has hired former New Balance executive Jonathan Ram as its new chief executive.
Ram, who has run US fashion firm HanesBrands’ activewear business since 2018, previously spent 18 years at New Balance where he had spells leading its Latin America, EMEA and North American businesses. He takes the helm in April, according to Drapers.
The appointment comes after a period of instability for Clarks, which was sold to private equity firm LionRock Capital in late 2020.
The retailer has been rebuilding its executive team after the departure of chief executive Giorgio Presca, chief commercial officer Massimo Barzaghi and chief people officer Difna Blamey, just two months after LionRock’s acquisition.
READ MORE: Clarks hires new CIO as it rebuilds leadership team
Former Guess boss Victor Herrero had taken on the CEO role temporarily but he stepped down last November and Clarks chair Johnny Chen, who is also vice-chair of LionRock, has been running the business since then.
Clarks reported record losses of £181.8m after tax for the year to January 30, 2021. Group sales also plunged to £775m from £1.37bn the previous year.
The retailer pushed through a CVA at the end of 2020, which saw it pay zero rent on 60 stores while hundreds more switched to turnover-based rents.
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