Co-founder Tim Brown is stepping down as co-CEO of US footwear and apparel retailer Allbirds Inc. Brown, who previously ran the company with Joey Zwillinger, will leave the executive board and act as co-founder and chief innovation officer, Allbirds said in a statement to the U.S. Securities and Exchange Commission (SEC) on Tuesday.
Brown had already been given new areas of responsibility last December. In the course of a personnel reorganization of the management team, he has since been increasingly responsible for the areas of innovation and sustainability as well as for “external communication and the development of partnerships”.
At the same time, the company presented its results for the first quarter of the 2023 financial year. Accordingly, sales fell compared to the same period last year by 13.4 percent to 54.4 million US dollars (50.0 million euros). The net loss grew from 21.9 to 35.2 million US dollars (32.4 million euros).