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Crocs Appoints a New President

Crocs has named a new president.

The Niwot, Colo.-based clog maker announced yesterday that Michelle Poole was appointed to the post, effective Sept. 10. She has been tasked with overseeing the brand’s Americas, Asia and Europe-Middle East-Africa regional commercial teams, as well as the product design and management, merchandising and marketing departments.

“It is a privilege to lead such a talented team and to act as steward of this incredible global brand,” Poole said in a statement. “I could not be more excited by the opportunity to integrate our teams globally, enhance our go-to-market strategy and grow the Crocs brand for years to come.”

Since April, Poole served as the company’s EVP and chief product and merchandising officer. Prior to that role, she held the positions of SVP plus product and merchandising chief. In addition to those responsibilities, she took over Crocs’ marketing functions in 2017.

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What’s more, the new brand president has nearly three decades of experience in helping develop several other product and lifestyle brands, such as Sperry Top-Sider, Timberland, Kangol, Converse, MTV Europe and Pepe Jeans — where she served in a range of marketing, merchandising and product management roles.

Poole will continue to report to CEO Andrew Rees.

“Since joining the Crocs team, Michelle has had a profound impact on the trajectory and success of the Crocs business,” he said. “As a brand, we have proven resilient in the face of adversity and are emerging from this crisis with renewed confidence and optimism.”

He added, “This change will provide an even more effective and cohesive go-to-market strategy to achieve our long-term brand and commercial goals. We are confident that Michelle’s track record and leadership will continue to fuel sustainable growth in 2021 and beyond.”

At the end of July, Crocs posted better-than-expected second-quarter financial results: The company recorded diluted earnings per share that surged 71.2% to $1.01 on an adjusted basis — well above the prior year’s 59 cents per share and analysts’ bets of 14 cents per share. Revenues, on the other hand, declined 7.6% to $331.5 million but still beat Wall Street’s forecasts of $249.6 million.

Its e-commerce business served as another bright spot, growing 67.7% in the period ended June 30. Although wholesale revenues declined 19.5% and retail revenues fell 41.8%, retail comps advanced 10.5% on a constant currency basis upon the brand’s store reopenings.

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