Spinnova’s New CEO? Chairman of its Board

Textiles

Spinnova

Spinnova’s board of directors has appointed Janne Poranen as chief executive officer. Pornane, the Finnish fiber firm’s co-founder, will continue to serve as the chair of the board upon reassuming the position of CEO. He now handles all of the group’s businesses and will lead its management team. Following Tuomas Oijala’s resignation, the former CEO will continue supporting Poranen with strategy and depart by mid-September, as previously reported. Considering the “current development stage and special circumstances,” the company said, Spinnova will “deviate from recommendation No. 21 of the corporate governance code 2025, which concerns the separation of the roles of the CEO and chair of the board.”

“Suzano’s decision not to invest into the next steps of collaboration with Spinnova was disappointing, but it also opens new opportunities,” Poranen said. “We are aware of the challenges ahead, but the letters of intent signed last year showed that there is global demand and need for our solution.”

The solution? Shifting Spinnova’s focus back onto its fiber—something at odds with the efforts Oijala made during his 475 days (give or take) as CEO.

“We have the technological expertise of how to make the Spinnova fiber,” Poranen said. “The organization is now concentrating on making the fiber production cost-effective for industrial scaling. We will continue this work with great focus.”

Retail

H&M Group

H&M Group’s head of sustainability, Karin Brinck, has left the Swedish giant after nearly 14 years. Per a LinkedIn post penned by Brinck, she joined H&M in 2011 while starting a second career in sustainability, joining H&M’s Global Sustainability team as an EA. Per the post, she will take some time before taking on her next endeavor.

Meanwhile, the nominating committee of H&M’s board proposed that Klas Balkow be elected as a new member. Also requested was the re-election of Anders Dahlvig, Danica Kragic Jensfelt, Lena Patriksson Keller, Karl-Johan Persson, Helena Saxon, Christian Sievert and Christina Synnergren. It is proposed that Karl-Johan Persson be re-elected as chair of the board, while Stina Bergfors has declined to stand for re-election.

Foot Locker

Sneaker chain outpost Foot Locker announced that Franklin Bracken, currently executive vice president and chief commercial officer, has been named president, continuing to report to CEO Mary Dillon. As president, Bracken will work alongside Dillon on the company’s Lace Up Plan strategy. Bracken will continue to oversee global retail operations, merchandising, marketing, digital, loyalty and real estate.

Carter’s

Baby and children’s apparel company Carter’s announced that Douglas Palladini has been appointed chief executive officer and president and as a member of the board of directors, effective next Thursday. Palladini brings more than three decades of senior leadership experience, previously serving as global brand president at Vans and nearly 20 years at VF Corp. He most recently served as the founder and owner of Kickstand, a consulting firm focused on brand strategy, executive coaching and organizational design. 

The Buckle

Nebraska-based specialty retailer Buckle announced that Justin Ellison was appointed vice president of information security. Ellison has been with Buckle since 2005 and most recently served as senior director of information security.

Brands

PatBo

Brazilian ready-to-wear brand PatBo announced the appointment of Isabella Baboury as president. Baboury brings over a decade of experience in the luxury fashion space, having held roles as the director of Christian Louboutin and Chloé. She also spent time with Burberry in Canada, having previously served as one of the first executives at Saks Fifth Avenue during its expansion into the Canadian market.