New Balance names Joe Preston as its new ceo

In a press note released yesterday, Boston-based athletic footwear brand New Balance announced the retirement of its chief executive officer. Rob DeMartini had held the role of president and chief executive officer for 12 years. During his tenure, DeMartini oversaw the global growth of the brand from 1.5 billion dollars 11 years ago to 4.2 billion dollars this year, and expansion of international sales to 65 percent.

The company’s chief commercial officer, Joe Preston, is set to take over the executive role. Preston has been with New Balance since 1995. In his time with the brand, Preston has held titles such as senior product manager, vice president of international and executive vice president of international.

“New Balance is a very special company, built on the values of teamwork, integrity and total customer satisfaction… It has truly been a privilege to add to the foundation our ownership established,” said DeMartini in a statement. “Joe is an experienced industry leader who knows our customers, partners and consumers well. He is a talented executive who embraces the brand’s core values and is a great choice to lead New Balance into the future.”

Preston added, “I’m honored and humbled to take on this role and want to thank Rob for his leadership over the past 12 years. We have an incredible team of associates and partners around the globe and together we will drive even greater speed, agility and innovation in this modern age of retail and continue to build this iconic brand while strengthening our purpose-driven culture.”

Preston is set to take over the position from DeMartini on December 31 of this year.