Sep. 9, 2009 (Business Wire) -- SKECHERS USA, Inc. (NYSE:SKX), a global leader in lifestyle footwear, today announced that Fred Schneider, Chief Financial Officer, has informed Skechers of his resignation from his position in order to pursue other interests. Fred plans to remain with the Company through February 2010 in order to enable an orderly transition. The Company also announced that David Weinberg will continue to act as both the Chief Operating Officer and assume the additional responsibilities of Chief Financial Officer, a position he held from 1994-2006.
"I have enjoyed serving as part of the Skechers senior management team and will miss being part of such a dynamic and energetic company," said Fred Schneider. "With the Company well positioned for the foreseeable future, I am confident that now is the right time to depart. I am committed to working closely with David and the finance team to facilitate a smooth transition over the coming months."
David Weinberg, Chief Operating Officer of SKECHERS, said, "Fred has been a valuable leader and we thank him for his guidance and commitment to the company for the past three-plus years as CFO, and prior to that as Chairman of the Audit Committee. Fred has made significant contributions to Skechers, and most notable was his recent leadership and hard work in securing our $250 million, syndicated credit facility. His influence has been felt in the accuracy and strength of our financial reporting, and with the Company’s large cash balance and strong balance sheet, the Executive Management team is confident that we are in a great position to further grow our business. On behalf of Robert, Michael and the Board of Directors, we thank Fred for his many contributions to the Company and wish him well in his future endeavors.”
SKECHERS USA, Inc., based in Manhattan Beach, California, designs, develops and markets a diverse range of footwear for men, women and children under the SKECHERS name, as well as under several uniquely branded names. SKECHERS footwear is available in the United States via department and specialty stores, Company-owned SKECHERS retail stores and its e-commerce website, as well as in over 100 countries and territories through the Company’s global network of distributors and subsidiaries in Canada, Brazil, Chile, and across Europe, as well as through joint ventures in Asia. Please visit www.skechers.com or call the Company’s information line at 877-INFO-SKX.
This announcement may contain forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
