Deckers Brands announced president and CEO Dave Powers will retire on Aug. 1, 2024. Powers will be replaced by Stefano Caroti, who is currently chief commercial officer. Powers will remain on the board of directors through 2025, and Caroti will be nominated to the board this year, the company said. 

Deckers is No. 74 in the Top 1000, Digital Commerce 360’s ranking of the largest North American online retailers. 

“Serving as CEO of Deckers has been a great honor, and I am incredibly proud of our accomplishments to date,” Powers said. “Since joining Deckers in 2012, we have experienced explosive growth driven by incredible — and still increasing — brand heat across UGG and HOKA. Our organization has proven to be incredibly resilient, and we have worked with agility to continuously achieve our goal of doing good and doing great. I’m confident Deckers will continue to excel throughout this transition and into the future with Stefano at the helm, and I wish all my colleagues the best as we begin our next chapter.”

Stefano Caroti will take over as CEO on Aug. 1.

Deckers’ new CEO

Caroti joined Deckers in 2015 as president of omnichannel, a position he held for nearly eight years. In April 2023, he was promoted to chief commercial officer and interim president of Hoka.

Prior to joining Deckers, Caroti spent decades elsewhere in the footwear industry. His career has included six years at Puma as managing director and chief commerce officer. Before that, he held various positions at Nike. Caroti was vice president of EMEA (Europe, Middle East and Africa) commerce, and vice president of EMEA footwear, Deckers said. He also worked as general manager for Germany and Italy.

Puma ranks No. 79 in Digital Commerce 360’s Europe Database, and Nike also ranks No. 9 in the Top 1000.

“It is a privilege to step into this role as we continue to build on Deckers’ strong momentum,” Caroti said. “Over the next six months, I look forward to working with Dave, who is a great mentor, colleague and friend, to continue executing on our strategy and ensure a smooth transition. With our experienced management team, dedicated employees, and innovative products that resonate with consumers around the world, Deckers is well positioned to continue cutting through a highly competitive marketplace and take advantage of the many opportunities ahead.”

How is Deckers doing financially?

Deckers just reported revenue grew 16% to a record $1.56 billion in its fiscal third quarter ended Dec. 31. Meanwhile, direct-to-consumer sales grew 22.7% in the quarter, accounting for $858.1 million in sales.

“Our brands delivered Deckers’ largest quarter in history, with record revenue and earnings as both HOKA and UGG drove exceptional performance in the quarter, led by our DTC channel and high levels of full-price selling,” Powers told investors.

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