Crocs Inc. announced its Gregg Ribatt will start working as its new CEO Jan. 28 and that Jason Giordano, managing director of Blackstone's Private Equity Group, has joined its board of directors.
Ribatt, who was named at Crocs newest CEO in December, 2014, will also continue to serve as a director of the company.
Ribatt joins Crocs with more than 20 years of executive leadership and outstanding performance in consumer branded wholesale and retail organizations in footwear and apparel. Most recently, he served as interim CEO of Spanx Inc. Previously, he served as president and chief executive officer of Collective Brands Performance & Lifestyle Group, a $1.1 billion leader in global branded performance and lifestyle footwear and apparel, which included the Saucony, Sperry Top-Sider, Keds and Stride Rite brands. Before joining Collective Brands, Ribatt was president, chief executive officer and a member of the board of directors for Stuart Weitzman Holdings, a luxury women's fashion footwear company.
Ribatt also served as executive vice president and chief operating officer of Bennett Footwear Group, at the time one of the leading women's branded and private label fashion footwear companies in the U.S. He will be based in Crocs' new Global Commercial Center in suburban Boston, while also spending significant time at Crocs' offices in Niwot, Colo., as well as working with Crocs employees and customers around the world.
Andrew Rees, who had been serving as Crocs' principal executive officer prior to Ribatt's appointment, will continue in his role as president of the Crocs brand, reporting to Ribatt.
"I am incredibly eager to start my new role today as CEO of Crocs," Ribatt said. "Our vision is to build the world's leading casual footwear brand. Our talented global team is focused on this goal, and I am very proud to play a vital role in this journey. On behalf of the entire board of directors, I would like to thank Andrew for leading the Crocs management team since joining the company in June 2014, and I look forward to working with him on a daily basis."
Since joining Blackstone in 2006, Giordano has been involved in the execution of Blackstone's investments in Crocs, Pinnacle Foods, Birds Eye Foods, Wishbone, Outerstuff, Polymer Group, Fiberweb, and Providenica, and in analyzing investment opportunities across various industries, including Consumer Products, Food & Beverage, Education, Paper & Packaging, Chemicals and Industrials.
"We are thrilled to have Gregg on board as CEO at Crocs after a thorough, thoughtful search," said Thomas J. Smach, chairman of the Crocs board. "His service on the Crocs board over the past year has given him significant insight into the company. His many years of footwear industry leadership experience and stellar track record in transforming businesses and brands make him an ideal choice for this role. We're also delighted to have Jason Giordano join our board. He has been deeply engaged with the company, leading the day-to-day management of Blackstone's investment team responsible for adding value to their Crocs investment. His diverse business and investment experience has been and will continue to be extremely valuable to Crocs as we execute on our profitable growth initiatives."
