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Crocs names Andrew Rees President, searching for CEO

US footwear maker Crocs Inc. on Tuesday named consumer brand management expert Andrew Rees President of the Crocs brand.

Rees also will assume the role of principal executive officer until the company finds a permanent CEO. Rees will report to the Crocs board of directors. He is expected to join the company officially on 9 June.
Rees joins Crocs from management consulting firm LEK Consulting.

He founded and led LEK’s retail and consumer products practice for 14 years, building the practice into one of LEK’s major consulting areas. Before that, he held senior leadership positions at Reebok International, where he served as vice president of strategic planning and vice president of retail operations.

"Andrew Rees is a proven leader in consumer products branding, marketing and retailing, with a long track record of business success," said Thomas Smach, Crocs chairman of the board and interim CEO. "Andrew has led the LEK team that has been working closely with us to help develop our strategic plan and we feel that he is best positioned to lead the Crocs’ management team in executing that plan. Andrew will bring a strong focus and cohesive leadership to building our brand and driving profitable growth for Crocs across the globe."

Smach saw 2014 as a significant transition period for Crocs. The company started the year by securing a USD200 million investment from Blackstone and has been buying back stock under its previously announced USD350 million stock repurchase program.

"Now we have taken an important next step in our transition plan by hiring a President who has global marketing, brand building and retail expertise in order to execute on our short-term and long-term priorities and strategic plans, which include a sharper strategic focus on more profitable top-line growth. Andrew’s immediate focus will be on improving financial performance, particularly in the Americas and Japan, as well as enhancing our global retail execution," noted Smach.

"As we increasingly focus on profitable growth and retail excellence, we will moderate the pace of our investments in new retail stores; while remaining resolute on creating long-term value for Crocs shareholders," he added.