There’s a changing of the guard in the offing at New Balance.
The Boston-based activewear brand said Tuesday that longtime president and chief executive officer Rob DeMartini will step down on Dec. 31 and be succeeded by company veteran Joe Preston, who currently serves as chief commercial officer.
“On behalf of the Davis family and our 8,200 associates worldwide, we would like to thank Rob for his strong leadership in driving our aggressive growth during the last 12 years and his unwavering commitment to reflecting and maintaining our unique company culture,” said New Balance owners Jim and Anna Davis.
Over the course of his career, DeMartini helped New Balance grow from $1.5 billion in 2007 to $4.2 billion in 2018. During that time, the company grew in its core specialty running space, expanded international sales to 65 percent from 30 percent and made significant strides in its apparel, retail and e-commerce businesses.
The company also had one of the highest growth rates in the industry in recent years, averaging an 11 percent compounded annual growth rate.
“New Balance is a very special company, built on the values of teamwork, integrity and total customer satisfaction established by Jim and Anna Davis,” DeMartini said. “It has truly
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