Designer Brands appoints two new members to its board
Designer Brands Inc. announced on Wednesday the appointment of Rich Paul and Tami J. Fersko to its board of directors as independent directors.
Fersko, who currently serves as the chief operations and supply chain officer for Centric Brands, was also named a member of both the audit committee and the nominating and corporate governance committee.
Previously, she served as president, LF Americas, a division of Li & Fung Limited, a $10 billion dollar Hong Kong based global supply chain corporation. Her responsibilities spanned sales, design, merchandising, sourcing, operations, finance, and licensing/M&A. Prior to her role at Li & Fung, Fersko was the executive vice president, finance and operations of The Jones Group.
Likewise, Rich Paul is the CEO and founder of Klutch Sports Group, an agency representing athletes across major professional sports. Paul founded the company in 2012 in his hometown of Cleveland, Ohio. He also serves as United Talent Agency's (UTA's) head of sports and is an agency partner. He was equally appointed to UTA's board of directors in 2020.
"As Designer Brands continues the next phase of its growth, I am thrilled to have Rich and Tami join our Board," said Jay Schottenstein, chairman of the board.
"Both bring extensive brand-building expertise and knowledge of the footwear industry to the table, competencies that will help us on our path to doubling sales of our Owned Brands. Rich's place at the epicenter of culture as well as his vast knowledge of the sports industry will complement our athletic and athleisure strategy, while helping to continue attracting new and different consumers to Designer Brands. Additionally, Tami's broad background in supply chain and operations will reinforce our efforts to be nimble and agile as we seek to consistently provide the best brands in footwear.”
They join the board, which now has eleven members, eight of whom are independent.
"I am excited that Designer Brands is adding Rich and Tami's expertise to our Board," added Roger Rawlins, chief executive officer of Designer Brands. "They bring a wealth of experience in areas directly applicable to our brand building journey and I look forward to working with them as we move this vision forward."
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