Wolverine Worldwide names CFO
Wolverine Worldwide is undergoing a leadership change following the resignation of one of its top employees.
Rockford-based Wolverine Worldwide said this week that Michael Stornant has been appointed to the position of SVP, CFO and treasurer, effective June 12.
Stornant is replacing Donald Grimes, who has resigned his position to become EVP, COO and CFO for the Neiman Marcus Group, a privately held luxury retailer, owned by Ares Management and the Canada Pension Plan Investment Board.
“Don served Wolverine Worldwide extraordinarily well over the past seven years and was a tremendous partner to me and the company through a time of great transformation,” said Blake Krueger, Wolverine's chairman, CEO and president.
Krueger thanked Grimes for his "many contributions to Wolverine."
In his new role, Stornant will report directly to Krueger and serve as a member of Wolverine’s executive management team.
Krueger said Stornant has a “long and successful track record” with Wolverine, having been with the company for 19 years.
He most recently served as the company’s VP of corporate finance, with global responsibility for the company's corporate accounting, financial planning and tax and credit functions.
Stornant has held numerous and increasingly significant operations and financial roles within Wolverine over the past two decades: VP and GM of the Bates brand; SVP of finance and administration for the Global Operations Group; VP of corporate planning and analysis; SVP of manufacturing operations; and director of internal audits.
“He possesses deep knowledge and expertise in virtually every financial and operational facet of our global business," Krueger said.
Stornant said he is “excited to help lead the global team.”
Prior to joining Wolverine, Stornant was a C.P.A. with Ernst & Young.
He holds a bachelor’s degree in accounting from Grand Valley State University.