BIRD - Allbirds Names COO and Industry Veteran Joe Vernachio as Chief Executive Officer | Benzinga
SAN FRANCISCO, March 12, 2024 (GLOBE NEWSWIRE) -- Allbirds, Inc. (NASDAQ:BIRD), a global lifestyle brand that innovates with sustainable materials to make better footwear and apparel products in a better way, today announced the appointment of Chief Operating Officer Joe Vernachio as Chief Executive Officer and a member of the Board of Directors, effective March 15, 2024. He succeeds Joey Zwillinger, Allbirds's co-founder and CEO, who will continue as a member of the Board of Directors and serve as a special advisor to the Company. Mr. Vernachio's addition to the Board will expand the size of Allbirds's Board of Directors to eight members.
Vernachio has served as Allbirds's COO since June 2021. In 2023, the Company increased his responsibilities to include oversight of commercial and international functions, in addition to operations. Vernachio brings decades of experience in the retail industry and a long track record of building enduring brands. Prior to joining Allbirds, he spent four years as President of outdoor apparel and gear brand Mountain Hardwear, Inc., where he led a successful turnaround from declining sales and losses to robust growth and profitability. In his new role, Vernachio will oversee all operations and continue advancing Allbirds's strategic transformation plan.
"Building Allbirds with my co-founder Tim Brown, alongside our talented and dedicated Flock, has and continues to be an incredible privilege. I am thrilled to pass the mantle to Joe, who I have been working with for nearly three years. We turned to Joe to take on an expanded leadership role, increasing his responsibilities this past year and leveraging his capabilities as we developed our strategic transformation plan. Joe's expertise has been particularly meaningful as we've worked to align our ethos with operational and financial execution," said Zwillinger. "Our mission to make products that are coveted by consumers and deliver amazing comfort and style without denting the earth is even more important than it was when we started the Company nine years ago. I have every confidence that we have built the foundation for an enduring, multi-generation brand that will thrive in the years to come."
Dick Boyce, Lead Independent Director, stated, "On behalf of the Board, I want to thank Joey, both as co-founder and CEO, and acknowledge his enormous contributions and fierce commitment to Allbirds's mission, proving that good design and sustainability don't have to be mutually exclusive. We are delighted that Joe is taking the reins as we strive to maximize long-term shareholder value. He brings a powerful combination of continuity, business ...