US brand development and entertainment platform Authentic Brands Group has announced a significant evolution of its leadership structure. The company is thus repositioning itself for the next growth phase. Founder Jamie Salter is moving from the position of Chief Executive Officer (CEO) to the role of Executive Chairman. Matt Maddox has been promoted to President and CEO.
In his new role as Executive Chairman, Salter will remain closely involved in business operations. His future focus will be on strategic global growth. These include mergers and acquisitions, international partnerships and alliances, and other long-term strategic priorities.
Changes in day-to-day business
Maddox will report directly to Salter and will also be a member of the Board of Directors. He takes responsibility for the global implementation of the corporate strategy as well as for day-to-day operations. His responsibilities include scaling the global platform, driving the organic growth of the extensive brand portfolio and creating long-term value for shareholders and partners.
“This is an exciting step for all of us at Authentic,” Salter said in a press release. “As Founder and Executive Chairman, I will continue to do what I have always done: consistently focus on strategic, transformative opportunities that will position our unique company for continued growth.” He also emphasized that he would continue to work closely with Maddox and the entire management team in the future.
Maddox said Authentic has built one of the most powerful and differentiated global commerce platforms in the consumer goods space. “I look forward to building on this foundation with Jamie and further accelerating our growth,” he said. At the same time, he emphasized that the opportunities for the group of companies continue to be significant.
Global expansion of the platform
Since its founding 16 years ago, Authentic has grown from a single-brand company to a global platform active in sports, entertainment, fashion and culture. The portfolio now includes more than 50 brands, which together generate $38 billion in systemwide retail sales. Additionally, the company has continued to expand its stakeholder model to include partners such as Shaquille O’Neal, David Beckham and Kevin Hart.
Authentic continues to manage a high-profile brand portfolio and has acquired and repositioned Reebok, Champion, Sports Illustrated, Guess, Brooks Brothers, Ted Baker, Juicy Couture and Billabong, among others.
The group now has an extensive global presence with strategic locations in New York City, Los Angeles, London, Mumbai, Mexico City, Shanghai and Tokyo.
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