Toms CEO Magnus Wedhammar Exits, Takes Reins at New Furniture Company Founded By Nike Veterans
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Toms chief executive officer Magnus Wedhammar has accepted a role at the helm of a new company founded by a slew of former Nike employees.
The executive, who joined the brand in 2020, announced in a Monday LinkedIn post that he has accepted a new role as CEO of Moovlab, a company that makes technology for “active seating” to improve the lives of people while they are sitting. Nike veterans Thomas Bell, Michael Collier and Natalie Candrian cofounded the company in 2022. According to a recent post from Bell on LinkedIn, Moovlab is focusing on engineering and product development in 2024 and plans to launch a friends-and-family fundraising round soon.
“Moovlab’s mission is to combat the chronic health crisis caused by the sedentary work lifestyle and static / passive seating,” Wedhammar wrote on LinkedIn. “Moovlab’s revolutionary patented “dynamic and active seating” technology allows you to move at its natural flex points while seated for a better physical and mental health. A little cryptic I know, but more information coming soon.”
According to a LinkedIn update, Allbirds former chief transformation officer Jared Fix joined as Toms’ CEO in July. FN reached out to Toms for a comment.
Wedhammar joined Toms in 2020 shortly after founder Blake Mycoskie and private equity firm Bain Capital ceded control of the brand to a group of creditors to provide debt relief to the shoe company, which had been dogged by negative credit ratings and bankruptcy rumors.
Wedhammar helped the brand execute a turnaround which, in part, included pivoting away from relying too much on the Alpargata. While the Alpargata is perhaps Toms’ most recognizable look, sales of its non Alpargata products now make up between 60 and 70 percent of the brand’s business.
Prior to his role at Toms, Wedhammar served in leadership roles at Sanuk, Sperry, Converse and Nike.
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