Dr Martens PLC (LSE:DOCS) has appointed a new chief financial officer a day after its shares stumbled to a new all-time low.
Giles Wilson, who currently works for Glenfiddich whisky and Hendrick's gin maker William Grant & Sons, will start next year, at a date still to be confirmed, with existing CFO Jon Mortimore, who had announced his retirement in April, agreeing to stay until the March year-end.
Wilson also has experience of leading a listed company, having been CFO at logistics company John Menzies from 2016 and then taking the chief executive role between 2019 and 2020.
Dr Martens chairman Paul Mason said Wilson "is a very capable finance leader with extensive experience in a number of sectors and, most recently, his time in the branded spirits industry has given him a good grounding in global brands and wholesale distribution management".
"His knowledge of the public markets will be a valuable asset to the team as Dr. Martens continues its growth in the listed environment."
Chief executive Kenny Wilson also highlighted that Giles Wilson "brings a range of complementary skills and past experience that is highly relevant to our brand-first strategy".
Since its initial public offer at a valuation of roughly £3.7 billion in early 2021, Dr Martens has shrunk to just over £1 billion following yesterday's slide, which coincided with a downgrade from Barclays and a sell-off of footwear companies around the world.
The company has been hit by supply-chain constraints brought on by the Covid-19 pandemic, with bottlenecks and tightening margins persisting since, and with the dwindling share price bringing the unwanted attentions, for the board at least, of activist investor Sparta Capital.