Helly Hansen chief executive Paul Stoneham to step down

Paul Stoneham is to step down as chief executive officer (CEO) of Helly Hansen after six years at the helm of the technical outdoor brand.

The move follows Helly Hansen’s successful integration into the Canadian Tire Corporation (CTC) which acquired the business in May 2018 - with Stoneham having committed to continue leading the brand for a further three years at the time.

With the business transformation now complete and a new 2025 growth plan in place, Stoneham will formally step down from his role when a new CEO is appointed and a handover period has occurred.

Under Stoneham’s leadership Helly Hansen had been set “on a new trajectory” with the development of a growth strategy that placed the Outdoor Professional at the heart of the business and led to the company’s most prosperous phase in its history, it said.

Helly Hansen more than doubled its revenue to NOK 4.3Bn between 2014 and 2019, delivering 16% annual growth over the five-year period.

In 2020, despite a Covid-19 triggered contraction in the Outdoor apparel sector, Helly Hansen finished the year with an “all-time record revenue quarter,” leaving it “positioned for great success moving forward with strong wholesale relationships and a material, growing Direct-to-Customer business, it added.

Commenting on the move Stoneham said: “It has been a privilege to lead such a great team and business over the last six years.

"Despite significant market change, the Helly Hansen team has delivered strong long-term growth fuelled by a strategy that places the Outdoor Professional at the heart of the business.

“Helly Hansen’s future growth prospects remain strong with focused category, geographic and channel expansion underway.”

CTC president and CEO Greg Hicks added: “With the Helly Hansen-CTC integration complete and a strong management team in place, Helly Hansen is well-positioned to continue delivering long-term growth.”

“The brand’s resilience and positioning for the future is a testament to the leadership provided by Paul and his team.

“On behalf of CTC, I would like to thank Paul for his many contributions — including growing and taking CTC global — and wish him continued success in his future endeavours.”