Cliff Sifford is returning to a larger role at Shoe Carnival as its interim president and chief executive officer following the abrupt exit of his former successor Mark Worden.
The Fort Mills, S.C.-based footwear retailer announced the move on Wednesday in a statement that also noted that Worden “departed” from his role as the company’s president and CEO and had resigned as a member of the board of directors, effective Feb. 24.
Sifford, who is currently the retailer’s vice chairman of the board, will fulfill the CEO responsibilities while the company commences a search for a permanent successor.
“We’re grateful for Mark’s many contributions throughout his career at Shoe Carnival and wish him all the best,” Charlie Tomm, lead independent director on the company’s board of directors, said in a statement.
Worden joined Shoe Carnival in 2018 with nearly 25 years of brand management, marketing and executive management experience, including leading international consumer packaged goods brands at the SC Johnson Co. and Kimberly-Clark Corp. While at the company, Worden held the roles of executive vice president of chief strategy and marketing officer as well as chief customer officer.
This new leadership transition is a reversal of roles of sorts as Worden succeeded Sifford as CEO on Sept. 30, 2021. At the time, Sifford transitioned to the role of vice chairman of the company’s board of directors. Sifford began his career with the company in 1997 and had served as the company’s CEO since 2012.
Sifford said of the move that he is “honored” to help lead Shoe Carnival through its next phase of growth. “I look forward to working with the rest of the executive team and the Board as we seek to become the nation’s leading family footwear retailer,” he noted.
Tomm added that as the company looks to the next chapter of its transformation and growth, he is “excited” to welcome Sifford back to the CEO role.
“The board believes that Cliff’s proven leadership, coupled with his years of experience with Shoe Carnival and his vast knowledge of the business, make him the right person to lead Shoe Carnival as we execute our strategic plan,” Tomm said.
In addition to its leadership update, Shoe Carnival also provided its preliminary results for fiscal 2025 on Wednesday.
For the full year, the company saw net sales of $1.14 billion, with diluted earnings per share of $1.90, which is 3 cents higher than consensus expectations.
The company noted that it ended fiscal 2025 with over $130 million of cash, cash equivalents and marketable securities on hand. Fiscal 2025 marks the 21st consecutive year the company ended the year with no debt, fully funding operations and its rebanner strategy with cash on hand.
“The foregoing expected results are preliminary and remain subject to the completion of normal quarter and year-end accounting and auditing procedures and closing adjustments,” Shoe Carnival added.
