Crocs promotes new president, anticipates Q3 sales growth

BROOMFIELD — Crocs Inc. (NASDAQ: CROX), the iconic Niwot-born, Broomfield-based footwear brand, announced Monday the promotion of Michelle Poole as company president. 

Poole has had several roles with the firm including senior vice president and chief product and merchandising officer. 

“Since joining the Crocs team, Michelle has had a profound impact on the trajectory and success of the Crocs business. I am proud to appoint Michelle to the role of president,” Crocs CEO Andrew Rees said in a prepared statement. “As a brand, we have proven resilient in the face of adversity and are emerging from this crisis with renewed confidence and optimism. 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.”

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Her base annual salary as president is $700,000, according to documents filed with the U.S. Securities and Exchange Commission. Additionally, she is eligible for certain bonuses and stock options.

“It is a privilege to lead such a talented team and to act as steward of this incredible global brand,” Poole said in a prepared 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.”

In addition to Poole’s promotion, Crocs also recently announced it expects to post third quarter revenues of about $312.8 million, up 10% over the same period in 2019.

“As a brand, we have proven resilient in the face of adversity and are emerging from the COVID-19 crisis with tremendous optimism,” Rees’ statement said. “We have experienced exceptional consumer demand and strong sell throughs. As a result, we expect revenue growth of approximately 10% in the third quarter and anticipate our business continuing to strengthen. We remain focused on setting ourselves up for a successful 2021 and are confident in our ability to deliver sustainable, profitable growth for years to come.”

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