START-RITE SHOES ANNOUNCES CEO RESIGNATION

Start-Rite Shoes Ltd and its board of directors are announcing that, effective from 31st January,
it’s Chief Executive, Ian Watson, is to leave the company.
Watson joined Start-Rite in 2016 as the first non-family member to run the company, and over the last
three years has delivered a fundamental overhaul of the business, developing a strong strategic plan
to transform the brand’s products, processes and people, making it more relevant for today’s
consumer.

Commenting on his announcement, Watson, said: “It’s with sadness that I leave my position of Chief
Executive at Start-Rite Shoes. My decision to resign is no reflection on this business or the people
within it. I have been offered a new challenge which was too good an opportunity to turn down.
“The company and its board have shown me great support over the last three years, and I wish the
them all continued success in the years to come.”

The board is actively recruiting a new CEO.