Aldo Group Inc. founder and executive chairman Aldo Bensadoun is shaking up the firm’s top ranks. Amid tumultuous retail times, the Moroccan-Canadian businessman announced today that he is placing the future of the footwear retail chain in the hands of his eldest son, David Bensadoun.
Effective April 3, David Bensadoun will become Aldo’s new CEO, replacing former VF Corp. executive Patrik Frisk, who has led the Montreal-based company since 2014.
David Bensadoun — who will report to newly appointed Aldo chairman Jurgen Schreiber — joined the company in 1995 as a project manager and rose through the ranks to his most recent role as president of Aldo Group North America.
“I’m enormously proud to pass the baton to David, who will continue the family legacy through his leadership of the company,” Aldo Bensadoun said in a release. “To witness this transition is truly a dream come true for me. David’s passion for the business combined with his leadership abilities and unique vision give me every confidence in the future of our company.”
In a statement, Aldo Bensadoun thanked former CEO Frisk — who will remain on board for several weeks to aid the transition — for his contributions to the company.
“Frisk has been instrumental in helping the Aldo Group reach new heights as we continue to build our business and culture around the world,” he said.
In addition to the CEO change and Schreiber’s new appointment, Aldo also announced that Norman Jaskolka has been appointed deputy chairman. Jaskolka was previously president of Aldo Group International and will continue to oversee the firm’s overseas operations.
“With today’s [announcements], we are proud to express our consistent values and goals as a company,” David Bensadoun said in a release. “Our family has committed our hearts to the work of providing the very best product to our loyal customers while creating an environment where our people are encouraged to reach their full potential. I am honored to carry this torch into the future.”