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Shoemaker Rothy’s on Tuesday announced a number of leadership changes. Co-founders Stephen Hawthornthwaite and Roth Martin have stepped down from their roles as chief executive and president, respectively. Hawthornthwaite will transition to Rothy’s chair of the board, and Martin will become chief creative and innovation officer.
Jenny Ming, who has served as a Rothy’s board member since 2022, will step into the role of chief executive. Ming previously worked at mall staples Old Navy as president and Charlotte Russe as president and chief executive. Dayna Quanbeck, who was previously Rothy’s chief financial officer and chief operating officer, will become the brand’s president. Ming and Quanbeck will help oversee the opening of 10 new retail stores this year — the brand currently has 19 — along with its entrance into wholesale.
But the leadership change also comes after the 11-year-old brand, known for its pointed-toe flats made with machine-washable 3D materials, saw a drop off in sales. In the third quarter of 2023, Rothy’s sales dropped 20 percent following a slowdown in e-commerce traffic, according to a November earnings release by its parent company, Brazil-based Havianas-owner Alpargatas.
Rothy’s managed to drive down operational costs, narrowing its losses on the basis of earnings before interest, taxes, depreciation and amortisation by $5 million during the same period.
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