Brown Shoe promotes president to CEO
US footwear company Brown Shoe, which owns the Famous Footwear retail chain, has announced that it is promoting president Diane Sullivan to the additional role of CEO as part of its succession plan.
Ms Sullivan will take over the post from Ron Fromm on May 26, 2011. Mr Fromm will remain chairman through the company’s annual shareholders’ meeting that same month. Fromm, a nearly 30-year Brown Shoe veteran, has served as chairman, CEO and president since 1999.
Sullivan has served as president of the company based in St Louis, Missouri, since 2004, and took on the additional role of chief operating officer in 2006. She has been a board member since 2007.
The company in November reported third-quarter earnings of $18.6 million as sales rose 15% to $716.1 million. It said at the time that it was continuing to see robust sales growth at its Famous Footwear stores.
