Caleres, Inc. announced that Diane Sullivan, who has served as chief executive officer for more than a decade, will retire as chief executive officer of Caleres on January 15, 2023, and will assume the role of executive chairman. At that time, Jay Schmidt, president of Caleres, will succeed Sullivan as chief executive officer. Schmidt was named president in December 2020 and assumed responsibility for consumer and brand strategy for the entire Caleres portfolio, which includes Famous Footwear, Allen Edmonds, Naturalizer, Sam Edelman and Vionic, among others.

Prior to that, Schmidt held the position of division president, Caleres Brand Portfolio, where he added to his already-strong portfolio knowledge. Before joining the company in 2009, Schmidt spent more than 25 years developing his extensive merchandising, portfolio management and brand marketing experience. He spent ten years with Nine West Group in several capacities and held positions of increasing responsibility with Lord & Taylor, May Merchandising Corporation and Macy's. He holds a bachelor's degree in commerce and marketing from the University of Virginia.

Sullivan joined Caleres as president in 2004 and took on the additional responsibilities of chief operating officer in 2006. Elected to the Board of Directors in 2007, she was then named president and CEO in 2011. She became CEO, president, and chairman of the board in 2014.

During her tenure, Sullivan built and fostered a consumer-focused approach that led to an expansion in customer acquisition and market share growth in key consumer segments; orchestrated the transformation of the Caleres portfolio into the highly-successful collection of brands it is today; spearheaded strategic investments to enhance the organization's digital and supply-chain related capabilities; and led with a people-first management style that transformed the Caleres culture into the engine of the company's long-term success. Through these efforts, Sullivan has significantly strengthened the organization's overall earnings capabilities and potential for future value creation.