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Allbirds Co-Founder Tim Brown steps down as Co-CEO and switches to Chief Innovation Officer

Tom Bottomley
15 May 2023

Co-Founder of sustainable footwear retailer Allbirds Tim Brown (pictured above) has stepped down from his role as Co-CEO and taken up a non-executive role as Chief Innovation Officer, effective as of 4 May 2023.

It has also been reported that Allbirds is to axe 21 corporate jobs as it continues its “strategic transformation”.

The news comes after Allbirds recently posted its Q1 trading update up to 31 March 2023, which revealed:

  • Net revenue decreased 13.4% to $54.4 million compared to 2022 and increased 9.5% compared to 2021.
  • Gross profit totalled $21.8 million compared to $32.6 million in the first quarter of 2022, and gross margin declined to 40.1% compared to 51.9% in the first quarter of 2022.
  • Net loss was $35.2 million compared to $21.9 million in the first quarter of 2022.
  • Announced M0.0NSHOT, a project to create the world’s first net zero carbon shoe.

Joey Zwillinger, which Brown founded Allbirds with back in 2016, will remain sole CEO. Commenting on the recent results, Zwillinger said: “Our teams are executing well against our strategic transformation plan designed to reignite growth, improve capital efficiency and drive profitability.

“The dedication and hard work of our flock resulted in a quarter that demonstrated good progress on our strategic initiatives while exceeding our expectations.

“Our mission to create better things in a better way, guided by our Super Natural Comfort northstar, remains at the forefront of everything we do at Allbirds as we advance our vision to build a 100-year brand.”

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