CROX News Crocs, Inc. Announces the Appointment of Two New Board Members
NIWOT, Colo.--(BUSINESS WIRE)--Crocs, Inc. (NASDAQ: CROX) today announced that Ronald L. Frasch and
Marie Holman-Rao have been appointed to the Crocs Board of Directors
effective October 30, 2006.
Ronald L. Frasch, age 57, has served as Vice Chairman and Chief Merchant
of Saks Fifth Avenue, a division of Saks, Incorporated [NYSE:
SKS], since November 2004. From January 2004
to November 2004, Mr. Frasch was employed by Saks in a non-executive
capacity. From April 2000 to January 2004, Mr. Frasch served as Chairman
and Chief Executive Officer of Bergdorf Goodman (a subsidiary of Neiman
Marcus Group, Inc.) and served as President of GFT North America (a
subsidiary of Gruppo GFT, based in Turin, Italy, a global producer,
marketer and distributor of fine men's and women's clothing, sportswear
and furnishings) from 1996 to 2000. Mr. Frasch also served as President
and Chief Executive Officer of Escada USA from 1994 to 1996.
Marie Holman-Rao, age 57, served as President, Design Services of
Limited Brands, Inc. [NYSE: LTD]
from 1997 to March 2006 and currently serves Limited Brands, Inc. as a
consultant. From 1993 until 1997, she served in various management
positions at Gap, Inc. [NYSE:GPS],
including, Executive Vice President, Design, Banana Republic, and
President, Banana Republic in 1997. Ms. Holman-Rao also served as Senior
Vice President and General Merchandise Manager at AnnTaylor Stores Corp. [NYSE:
ANN] from 1992 until 1993, and Vice
President, Creative Development, Sport at Adrienne Vittadini, Inc. from
1989 to 1992. From 1986 to 1989, Ms. Holman-Rao served as President of
Perry Ellis International [NASDAQ: PERY].
Ron Snyder, President and Chief Executive Officer of Crocs, Inc.,
commented, “We are very excited to announce
the appointment of both Ron and Marie to our Board of Directors. We are
confident that their experience and success with several leading branded
consumer companies will be of tremendous value to the direction of our
Company. We look forward to benefiting from their perspective, insight,
and expertise as we continue to build our brand awareness, rapidly
expand our business and increase our presence around the world.”
Crocs, Inc. is a rapidly growing designer, manufacturer and marketer
of footwear for men, women and children under the crocs brand. All of
our footwear products incorporate our proprietary closed-cell resin
material, which we believe represents a substantial innovation in
footwear comfort and functionality. Our proprietary closed-cell resin,
which we refer to as croslite™ enables us to
produce a soft and lightweight, non-marking, slip- and odor-resistant
shoe. These unique properties make crocs footwear ideal for casual wear,
as well as for recreational uses such as boating, hiking, fishing and
gardening, and have enabled us to successfully market our products to a
broad range of consumers.
Forward Looking Statements
Certain information contained in this press release may be deemed to
constitute forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These statements involve known
and unknown risks, uncertainties and other factors which may cause our
actual results, performance or achievements to be materially different
from any future results, performances or achievements expressed or
implied by the forward-looking statements. These risks and uncertainties
include, but are not limited to, our ability to obtain and protect
intellectual property rights and other factors described in our annual
report on Form 10-K under the heading "Risk Factors," and our subsequent
filings with the Securities and Exchange Commission. Readers are
encouraged to review that section and all other disclosures appearing in
our filings with the Securities and Exchange Commission.
