Slowing sales
Ribatt has previous CEO experience at, among others, Spanx and Collective Brands Performance & Lifestyle Group. He has also been Stuart Weitzman Holdings’s CEO, president and board member. At Bennett Footwear Group, he used to be the COO and executive vice-president.
“Gregg brings 2 decades of success and leadership to Crocs and will lead the company in its growth and transformation process”, chairman of the board Thomas J. Smach said.
After an extremely successful period, Crocs’s net profits dropped extensively over the past 5 out of 6 quarters. Profit was also lower than expected in its last quarter as the brand has lost a lot of popularity and desperately needs to innovate.
