Footwear specialist Clarks has confirmed that its chief executive officer Jon Ram has stepped down from the helm position after just two years.
Ram joined the company from HanesBrands at a time when Clarks was carrying out a turnaround strategy with the goal of future-proofing the business and building a foundation for sustainable growth.
As such, Ram’s appointment marked a new phase in the strategy, with the executive having been tasked with growing the business in current and new markets to get to the next level.
The plan was established following a number of covid-related challenges faced by Clarks, which had also welcomed a new batch of executives into the business following a majority stake acquisition by private equity firm LionRock Capital in 2021.
Since Ram’s appointment, attempts have been made to position Clarks in front of a new, younger consumer. The brand entered the metaverse through Roblox, where users could participate in games and visit a virtual store, and had appointed cultural figures in fashion, including Martine Rose and Set Free Richardson, to offer temporary creative input.
The company also stepped into the Kingdom of Saudi Arabia through a deal with Apparel Group, which agreed to open 20 stores in the region over the next five years.
Clarks to form interim executive committee
Despite efforts, evidence of trouble brewing began arising again towards the end of 2023, when it was revealed that while the brand was on stable financial footing, 103 global jobs at the retailer were made redundant due to difficult economic headwinds.
Ahead of this, C&J Clark International, which is responsible for Clarks’ activities in the UK, recorded a decline in sales and profits in 2022, as a result of disruptions in the supply chain and a weakening in demand.
Clarks said that it anticipated such challenges to continue well into 2024, a forecast that appeared to be somewhat accurate when it was reported that several Clarks stores in the Netherlands had been declared bankrupt in January of this year.
The reason behind Ram’s departure, however, was not disclosed, with Clarks simply stating to FashionUnited that he was to “pursue other opportunities”.
In a statement, the company said: “Clarks thanks Jon for his leadership and contribution to Clarks over the last two years.
“To ensure continuity in the leadership of the company, Clarks chairman Colin Li and other directors will form an interim executive committee to lead the business, pending a new CEO appointment.”
