Wolverine Worldwide has named Taryn Miller as its new chief financial officer.
According to the Rockford, Mich.-based footwear company, Miller will report to Chris Hufnagel, the company’s president and chief executive officer, and will assume her role on Thursday.
Miller joins Wolverine Worldwide from Corteva Agriscience, an international pure-play agriculture company, where she led a wide variety of financial functions, including investor relations, treasury and commercial finance as vice president of corporate and commercial finance.
Prior to that, she served as the chief financial officer of global business units, enterprise FP&A, and investor relations at Kimberly-Clark Corporation. Earlier in her career she held various financial leadership roles at Kraft Heinz Company, including serving as chief financial officer and vice president of finance at Kraft Heinz Canada Inc.
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“I’m both honored and excited to be the company’s chief financial officer at such a critical chapter in its 141-year history,” Miller said in a statement. “I look forward to working with our global teams to drive the continued transformation and ensure the company is well-positioned to capitalize on its biggest opportunities ahead – ultimately delivering consistent value and returns to our shareholders.”
Hufnagel added that he and the board of directors are “delighted” to welcome Miller to the executive team. “[We are] confident that her deep financial experience and knowledge, coupled with her results-driven leadership style will be invaluable as we advance our ongoing strategic transformation,” the CEO said. “Taryn knows the consumer space well and has successfully led large, global finance organizations through periods of transformation and growth – serving the businesses as both a financial and strategic thought leader.”
Miller succeeds Michael Stornant, who will be retiring after nearly 30 years with the company. He will continue to work for the company through early 2025, partnering closely with Miller to ensure a seamless transition, Wolverine said in a press release on Wednesday.
“It has been a great privilege to work alongside such a talented team over nearly three decades at Wolverine and I am proud of all that we have accomplished together,” Stornant said. “I am excited to welcome Taryn and committed to working closely with her and Chris during this important transition, and I look forward to watching the company’s continued success in the years to come.”
Hufnagel added, “We’re incredibly grateful to Mike for his contributions to Wolverine Worldwide over nearly three decades of service across senior roles in finance, operations, and our brands. He has been a great partner of mine for many years and indispensable to me as CEO as we’ve worked together to stabilize and reimagine the business for the future. We appreciate Mike’s support and commitment to a seamless transition as he prepares for a very well-deserved retirement.”
This news comes at the same time that Wolverine Worldwide reported better-than-expected earnings in the first quarter of 2024. Even still, the company reported revenues decreased 34 percent in Q1 to $394.9 million, down from $599.4 million the same time last year.
Miller is the second female leader to be named chief financial officer of a major footwear company this year. On Tuesday, Crocs Inc. announced that it hired Susan Healy as its new CFO. She replaced Anne Mehlman, who was elevated to the role of Crocs brand president after former president Michelle Poole retired last week.
