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NIWOT, Colo. — Crocs Inc. (NASDAQ: CROX) today announced that its board of directors has appointed John Duerden to serve as the company’s president and chief executive officer effective March 16, 2009. He succeeds Ron Snyder, who is retiring and resigning as president and CEO but will continue as a member of the company’s board of directors. Mr. Snyder has also agreed to assist with Mr. Duerden’s transition for the next two to four months, or longer if needed.
Duerden has more than 20 years of senior level management experience across a variety of industries, including 13 years as president or CEO. From 1990 to 1995, Duerden served as president and chief operating officer of Reebok International. During this time, the company’s worldwide sales tripled to $3 billion and Reebok became established as a pre-eminent international sports brand. Prior to that, he spent eighteen months as managing director of Reebok’s international operations, where he initiated and oversaw that division’s significant expansion.
“We are very pleased to have someone of John’s ability lead our senior management team,” said Richard Sharp, Crocs chairman of the board. “His wealth of experience leading several global companies will be integral to our company’s continued evolution.”
“I would like to welcome John to the Crocs management team. John brings a long track record of success in growing companies and brands in a number of different regions. His broad experience is a perfect fit for our global footprint,” Snyder said. “I look forward to working closely with him during this transition period and in my continuing role as a member of the board.”
Duerden began his career with Xerox Corp. and its UK joint venture, Rank Xerox, where he held line and staff management positions in Europe, the U.S., Latin America and the Asia-Pacific region. He later served as chairman and CEO of Dictaphone Corp., a maker of voice management hardware and software and subsequently as chief operating officer of the development division of Invensys plc, a British engineering conglomerate. He served as a non-executive director of Telewest plc, a British cable, TV, telephony and broadband company; and of Sunglass Hut International. He comes to Crocs from the Chrysallis Group, a consulting group he formed in 2006, focused on the development and renewal of brands.
“Crocs has experienced phenomenal growth”, Duerden said. “The combination of new technology, innovative manufacturing techniques and compelling designs has created an original and iconic brand. I am excited by the opportunity to lead this talented global team into the next stage of the company’s development and to build on the company’s many strengths”
“I want to thank Ron for his strategic leadership during the past several years,” Sharp said. “Under his direction, Crocs completed the most successful initial public offering ever for a footwear company, established a global footprint in more than 100 countries, won numerous industry awards, and repositioned itself to perform in this challenging global retail environment.”
About Crocs, Inc.
Crocs, Inc. is a designer, manufacturer and retailer of footwear for men, women and children under the Crocs™ brand.
All Crocs™ brand shoes feature Crocs’ proprietary closed-cell resin, Croslite™, which represents a substantial innovation in footwear. The Croslite™ material enables Crocs to produce soft, comfortable, lightweight, superior-gripping, non-marking and odor-resistant shoes. These unique elements make Crocs™ footwear ideal for casual wear, as well as for professional and recreational uses such as boating, hiking, hospitality and gardening. The versatile use of the material has enabled Crocs to successfully market its products to a broad range of consumers.
Crocs™ shoes are sold in 100 countries and come in a wide array of colors and styles. Please visit www.crocs.com for additional information.