CEO of Brooks Running to step down, hand reins to company veteran

After two decades as CEO, Jim Weber is stepping down from his position at Brooks Running, according to an upcoming announcement from the company. 

Dan Sheridan, a former student of Brooks who started working for the company in 1998 in marketing and later became president and chief operating officer, will become the leader on April 26. 

Weber, who saved Brooks from bankruptcy, guided the company through four owners, and helped it grow to be worth over $1 billion, expressed his regret to CNBC about leaving his beloved position. He wants to find more balance in his life after recovering from cancer a few years ago.

During an interview, Weber expressed his immense pride in the creations they had made. He continued by saying that he had been the CEO for 23 years, and if he included the two years he spent on the board before that, it would make 25 years. It has just been an incredible run. He concluded that their company has achieved a lot, has great potential for the future, and is currently gaining momentum.

Sheridan described the company he has inherited as flourishing. In recent years, Weber has been preparing him for the role, and he has started playing a bigger role in its development.

Sales for Brooks reached $1.2 billion last year, up more than 5% on a global scale. North America, where the company generates around 80% of its total revenue, saw a large portion of that growth.

Sheridan's future goals include expanding Brooks' product line and achieving a global presence. This includes plans to open the brand's first Brooks Running store in China, which Sheridan refers to as an "absolute growth market." According to him, the business also wants to expand partnerships with European wholesalers and boost direct sales in the United States.