A fifth profit warning in three years and the departure of its chief executive wiped almost a third off the stock market value of Dr Martens.
The FTSE 250 retailer said Kenny Wilson, 57, who has led the business since 2018, will step down and will be succeeded by Ije Nwokorie, 53, the company’s chief brand officer, who will take over before the end of the present financial year in March 2025.
News of his departure came as the troubled boots brand said its profits next year could tumble by up to two thirds amid persistent struggles in America, its largest market.
Dr Martens said that falling wholesale revenues in the United States would cost the company £20 million in pre-tax profits, while cost inflation
