Dr Martens CEO Kenny Wilson is to step down from his role with chief brand officer Ije Nwokorie set to take over before the end of the financial year.
Ije will work with Wilson to ensure a smooth handover.
Wilson said: “After six years in the role, I feel that the time is right to hand over this year, and I am excited that Ije will be my successor.
“I have enjoyed working with Ije, both as a board member and in the executive leadership team in recent months, and I have seen his brand knowledge and passion first-hand. I look forward to working with him closely in the year ahead.”
Ije added: “I am thrilled that I will be the next CEO of Dr. Martens. We have a phenomenal brand, an excellent product range and a passionate culture. I am looking forward to working with Kenny through this transition year.”
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The news comes as Dr Martens revealed its full-year results, which will be released on 30 May, will be in line with expectations.
The business saw direct-to-consumer rise to high single digit growth in its fourth quarter, compared to a 3% drop in the previous quarter.
This was as a result of positive growth across EMEA, a flat outcome in the USA and strong results in APAC, led by Japan.
The company said US wholesale revenue was expected to see a double-digit decline year-on-year, which had a significant impact on its profitability.
Given the ongoing challenges in the US, it expected to continue to require the additional inventory storage facilities in this market in its next financial yeae, and that therefore most of the £15m of additional costs incurred last year would be repeated.
Wilson said he believes that next year will be “challenging” with cost efficiencies set to be a big focus.
He said: “The FY25 outlook is challenging, and the whole organisation is focused on our action plan to reignite boots demand, particularly in the USA, our largest market.”
He added: “We have built an operating cost base in anticipation of a larger business, however with revenues weaker we are currently seeing significant deleverage through to earnings. Against this backdrop, we will be laser-focused on driving cost efficiencies where possible.
“We also have a number of ongoing investment projects which will deliver results in outer years. We continue to believe in our DTC-first strategy and the considerable headroom for growth. Our brand remains strong, and we have a compelling product pipeline. These all give us confidence as we look beyond this transition year into future years.”
Last week, Dr Martens filed a lawsuit against Temu, accusing the Chinese marketplace of trademark infringement.
The British footwear retailer alleged that Temu engaged in paid advertising with Google to promote boots sold on its platform, targeting keywords like “Dr. Martens” and “Airwair” in specific markets.
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