Jan 10, 2024
2 minutes
Rothy's reveals leadership changes in next phase of growth
Jan 10, 2024
Sustainable accessories brand Rothy's Inc. announced on Tuesday the appointment of Jenny Ming as chief executive officer, and Dayna Quanbeck as president.
The San Francisco-based company said its co-founders Stephen Hawthornthwaite, currently CEO, and Roth Martin, currently president, will transition from their oles to chair of the board and chief creative and innovation officer, respectively.
Ming is a veteran retail executive who previously served on the 1994 founding team of Old Navy, becoming the retailer's first president from 1999 to 2006. She went on to serve as president and CEO of Charlotte Russe from 2009 to 2019. In addition to holding a number of board of director roles including Levi Strauss & Co. and Kaiser Foundation Health Plan and Hospitals, Ming has served as Independent director on Rothy's board since June, 2022.
Now as CEO, she will have full leadership responsibilities as Rothy's grows its global community.
"After decades spent in retail, it's rare to encounter a company with such tremendous opportunity ahead," said Ming.
"Roth and Stephen have created an exceptional product, cultivated a fiercely loyal community and built a vertically-integrated model unlike anything else in the industry. I have enjoyed working alongside them on the Board for the last 18 months, and am honored to step into this role at such an exciting time in the company's journey. In partnership with Dayna, I look forward to taking Rothy's brand, mission and product offering to new heights."
Likewise, Quanbeck, currently Roth's chief financial officer and chief operating officer, will expand her role as Rothy's president. She will continue to oversee the deployment of growth capital and manage Rothy's finance, logistics, data analytics, retail, international and technology divisions. As the company invests in channel and geographical diversification, Quanbeck will drive critical operations that move the bottom line, according to a press release.
"Building Rothy's has been the experience of a lifetime for Roth and me," said Hawthornthwaite. "After years spent laying the foundation for long-term profitable growth, we can confidently say that now is the right moment to empower our talented team to take Rothy's into the future. Jenny is a seasoned operator with an exceptional track record in scaling global retail businesses. Coupled with Dayna's deep knowledge of our business, having the two lead the next chapter at Rothy's is a major win for our company, customers and team."
Founded in 2012 by Hawthornthwaite and Martin, Rothy’s started out as a women’s footwear brand seeking to manufacture stylish and comfortable shoes using recycled materials and knitting techniques that minimize waste.
In late 2021, Alpargatas S.A., the Brazilian owner of the Havaianas flip flop label, made a strategic investment in Rothy’s, via a two-step process made up of an investment of $200 million in primary capital, followed by the acquisition of approximately $275 million in Rothy’s shares from current stockholders, resulting in a post-investment valuation of $1 billion.
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