Allbirds Co-CEO Steps Down, Takes Over CIO Role — Retail Bum

Allbirds co-founder and co-chief executive Timothy Brown has stepped down from his position to take on the role of chief innovation officer.

Joey Zwillinger, who is also Allbirds’ co-founder, is now the sole chief executive of the company.

Brown’s appointment to the role is part of an executive shuffle, which saw the hiring of Annie Mitchell as the company’s new finance chief in place of Mike Bufano.

“While my role has changed, one thing hasn’t: my long-term focus and belief in the potential of this brand and business, Brown said. “I know both how far we have come and how much further we can go.”

“From the original Kickstarter campaign to the launch of Allbirds and the world’s most comfortable shoe, to the recent launch of innovations such as the Moonshot project, we have significant opportunities ahead,” he added.

“With a focus on design, innovation and a clear vision for the role that brands will play in a new sustainable economy, we have significant potential through the strategic transformation underway.”

The news comes on the heels of Allbirds’ decision to eliminate 21 corporate jobs as the company after the company reported a net loss of $35.2 million, up from the $21.9 million it reported during the same period a year before.

While the company managed to beat market expectations, its revenue was down 13.4% to $54.4 million.

Photo credit: Allbirds

Originally published at https://retailbum.com on May 17, 2023.