by Larry Eder
Jim Tompkins, President & COO of New Balance, a member of Jim Davis’ inner circle for nearly three decades, has decided to leave NB in early June. Tompkins, an affable man, well liked during his tenure, gave praise to the new CEO, Rob DeMartini, in the following release, and DeMartini did the same.
Tompkins and his team also should be applauded for the forethought in taking manufacturing techniques used in the auto industry (Toyota)-watch for an upcoming article on their US manufacturing. Tompkins and his team should also be acknowledged for the human capital that NB has invested in-especially the management team (including Rob DeMartini), who will guide New Balance through the next challenges.
If my memory serves me well, Jim Tompkins may be the longest reigning President & COO of a major footwear company. In his tenure, at least one of his competitors had over a dozen presidents & COOs. Tompkins seems to be suggesting, in the release, that he will be looking for a new challenge, and perhaps a young business to help guide through its formative years. Jim Tompkins held the reigns at New Balance longer than any of his contemporaries in the business. Tompkins was part of Davis’ inner circle of professionals who have devoted most of the past three decades, some more, to building New Balance into a global brand. A young business that works with Tompkins would be lucky indeed.
May 20, 2009 — New Balance announced this week that Jim Tompkins, President & COO at New Balance, will depart the company in early June. “My
time with New Balance has been a great experience,” says Jim Tompkins. “I have had a lot of fun and am proud of the tremendous progress we have made over the last 25 years. We have grown the company 16 times since I started and developed a brand that is consistently ranked highly in consumer loyalty on a national scale. I have also made many good friends both in the company and the industry. I am taking the opportunity to leave knowing New Balance is in good hands to find a new challenge where my experience can be utilized to help another young business grow.”
“I wish to take this opportunity to thank Jim for his many contributions to New Balance,” says Rob DeMartini, CEO for New Balance. “Over the years, Jim has served New Balance well in a variety of roles, including Product manager, European Managing Director, Vice President R&D and President and COO. He has been instrumental in building the business and the New Balance brand to what it is today. We thank him for his leadership and wish him much success in the future.”
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