Authentic Brands Group expects IPO in next 12 months as new CEO steps in, founder tells CNBC
Authentic Brands Group has appointed former Wynn Resorts CEO Maddox as its new chief executive, indicating progress towards an IPO. Founder Jamie Salter will transition to executive chairman while remaining involved in strategic decisions. The company, which manages over 50 brands, has been preparing for a public offering and aims to leverage Maddox's experience in running public companies.
- ▪Authentic Brands Group is known for managing popular retail brands like Reebok and Champion.
- ▪Maddox will lead day-to-day operations while Salter focuses on long-term strategy as executive chairman.
- ▪The company has been signaling its readiness for an IPO for several years, with plans to file with the SEC soon.
Opening excerpt (first ~120 words) tap to expand
Authentic Brands Group, the management firm behind dozens of retail names including Reebok, Champion and Brooks Brothers, has tapped a former Wynn Resorts CEO to be its next chief executive, signaling it's inching closer to an IPO. Maddox, who joined Authentic as president in January 2025 after a 20-year career at Wynn, will succeed founder Jamie Salter, who will transition to executive chairman, the firm said Wednesday.In his new role, Salter will remain "deeply engaged in the business" and focused on the mergers and acquisitions that form the lifeblood of Authentic, but will focus on long-term strategy, Authentic said in a news release.
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