Troubled Crocs Shakes Up Management

Crocs, Inc. CROX named new managers for its Americas and China regions while replacing its chief of product creation and merchandising.

The troubled retailer and manufacturer of plastic sandals has struggled with faltering profits and choppy sales and its share price is off more than 20 percent year-to-date.

Crocs launched 2014 by selling a 13 percent stake to Blackstone for $200 million and using proceeds to buyback stock. In July, Crocs unveiled plans to close up to 100 of its 575 retail outlets after posting a 5.1 percent decline in same-store sales.

Crocs on Tuesday named Robert Munroe general manager of Crocs Americas region, which accounted for about 37 percent of 2013 sales. Munroe spent 10 years at Reebok, most recently following its Inquisition by Adidas AG. Munroe replaces Gregory Sullivan, who was named senior vice president of global business transformation.

The company also named Scott Yuan to general manager of Greater China, replacing Ted Lee, who will leave the company later this year. Yuan served recently as Lee's assistant in China, which accounted for about 32 percent of sales last year.

Michelle Poole replaces Dale Bathum as senior vice president of global product creation and merchandising. Poole was previously vice president of product for Sperry Top-Side. Bathaum will leave the company.

Crocs hasn't scheduled its third-quarter earnings release although last year the company reported on October 30. Analysts expect earnings of $0.15 per share, down 16 percent from a year earlier.

Crocs traded recently up 1 percent at $12.39 per share.