New Balance appoints new chief executive

US sportswear company New Balance has appointed Robert DeMartini as its new chief executive. He replaces owner Jim Davis, who stepped down from the role earlier this week to become chairman.

Davis, who bought the company 35 years ago, says it was time to "introduce younger and more progressive management. His wife Anne Davis will remain vice-chairman of the company.

DeMartini joins New Balance from Tyson Foods, where he was group vice-president, says he plans to continue the company’s focus on domestic manufacturing and its commitement to serious runners.

At Gillette DeMartini ran the $2.2bn North American blades, razors and personal care operations as senior vice president before moving to run Tyson’s $6bn consumer products business.