Hotter CEO and CFO exit following WoolOvers acquisition

The chief executive officer and chief financial officer of Hotter have reportedly stepped down from their roles just days after the footwear brand was acquired by WoolOvers Group.

The firm snapped up Hotter Shoes in a pre-pack administration deal for 6.7 million pounds after its former owner Unbound Group initiated the sale of its main subsidiary Beaconsfield Footwear, the operator of Hotter.

As part of the sale, it had been confirmed that 421 head office and store employees, as well as 27 stores were transferred to WoolOvers.

In spite of this, it appears that the company will still see changes to its leadership, with CEO Ian Watson and CFO Gavin Manson having exited Hotter, according to Drapers.

Watson had served as CEO of the brand since March 2019, a position he was appointed to after serving in the same role of children’s footwear brand Start-Rite Shoes.

Meanwhile, Manson was CFO between August 2016 and February 2022, picking up the role again from October 2022.

In an interview with the media outlet, Mike Lester, CEO of WoolOvers Group, said that his focus for Hotter was to stabilise the business and get stock in place for autumn/winter.

Lester added that the brand would continue to trade through its 17 stores and 10 concessions, as well as its e-commerce site.