Crocs on the Upswing as New CEO Bows Out
By February 28, 2010 12:44 PM
Last year, Niwot-based shoemaker Crocs
found itself on a notorious list: 24/7 Wall Street's "Twelve Major Brands That Will Disappear
But the company hired a new chief executive, John Duerden, and on Thursday announced that, after a long struggle to return to profitability, it is projecting first-quarter revenue between $155 million and $160 million---slightly higher than investors' expectations, according to The Associated Press
The news isn't spectacular, but it was good enough for Duerden to announce that he would soon resign, after just one year at the helm of the once-floundering company. He says he's accomplished everything he wanted to: "We have refocused the brand, reasserting its core values and reassessing the growth possibilities of the brand. This has been one of the most rewarding and exhausting experiences of my working life" (via the Denver Business Journal
Chief Operating Officer John McCarvel will take over.