Item 2.05 Costs Associated with Exit or Disposal Activities.
On January 7, 2009, the Board of Directors of Wolverine World Wide, Inc. approved management's recommendation to implement a strategic restructuring initiative. This initiative will allow the Company to create significant operating efficiencies, improve its supply chain, and create a stronger global brand platform.
The Company has provided preliminary estimated ranges for expected costs and benefits and will provide further disclosure as appropriate.
In 2009, the implementation costs to consolidate key manufacturing, distribution and global operations functions are estimated to range from $31 million to $36 million. Approximately $9 million to $10 million of this estimate represents non-cash charges. Continuing annualized pretax benefits are estimated to be $17 million to $19 million. The strategic restructuring initiative is expected to be completed in 2009.
The ranges of pretax charges by major category that are expected in connection with the restructuring plan are summarized in the following table:

Estimated Range (in millions) Severance and employee-related costs $ 14 $ 15 Non-cash charges related to property and equipment 9 10 Facility exit costs 5 6 Consulting and other costs 2 3 Other transition costs 1 2 Total charges $ 31 $ 36

On January 8, 2009 the Company issued a press release announcing this restructuring initiative. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein. Item 9.01 Financial Statements and Exhibits.
(d) Exhibits:

99.1 Press Release dated January 8, 2009

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