The CEO of Crocs is the person behind the brand’s global strategy and operations! Crocs are widely popular for casual shoes, sandals, and more. Whether you love them or hate them, Crocs have a pretty impressive history. You can keep on reading further to check out interesting facts about the CEO of Crocs.
Who Is The CEO Of Crocs?
The CEO of Crocs is Andrew Rees since June 2017 till now. Before he became the CEO of the company, Andrew joined Cros as President in June 2014. In fact, he also has more than 25 years of experience in the footwear and retail industry!
Once you know who owns Crocs, you can keep on reading further to know more details about him.
About The CEO Of Crocs
Very few people know that before joining Crocs, Mr. Andrew worked as Managing Director of L.E.K. Consulting in Boston. While working over here, he founded and led the firm’s Retail and Consumer Products Practice for 13 years. At L.E.K., the current CEO of Crocs served as a consultant for Crocs from 2013 to 2014.
Over here, he also supported the development and execution of the company’s strategic growth plan. Andrew Rees previously served as Vice president of both Strategic Planning and Retail Operations for Reebok International also. In fact, Crocs’ CEO also held a variety of positions at Laura Ashley. Andrew joined Laura Ashley PLC in 1992 as Director of Stores.
He has completed his Bachelor’s degree from Imperial College, The University of London. Andrew Rees’s estimated net worth is at least $10 to 15 million dollars as of 2022. It is also reported that he earns 15-22 million USD in total compensation a year. Andrew also owns over 10,000 units of Crocs Inc stock worth over$12,318,168. In addition to this, he also makes $6,217,750 as Chief Executive Officer and Director of Crocs Inc.
The family members of Andrew Rees’s family include his wife and a son. He is often away from his family due to work demands and travel. Crocs’ new CEO enjoys his small-town life in a rural area amidst nature.
Apart from the CEO, Crocs’ Board of Directors Tracy Gardner and Gregg Ribatt helped to grow revenues. Ms. Tracy is also the largest provider of shelter and supportive housing for NYC’s homeless families since 2011. The CEO and board of directors together are expertise in leading growth and strategy for fashion brands.
In 2012, the founder of Crocs was arrested as he was heavily drunk. But the news of the CEO of Crocs being arrested was spread all over the internet!
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How Much Does The CEO Of Crocs Make?
Andrew Rees made $15,785,920 in total compensation as Director and Chief Executive Officer at Crocs Inc in 2021. $3,855,500 was received as Total Cash, $11,889,515 was received as Equity and $40,905 was received as Pension and other forms of compensation.
When Was Crocs Founded?
In its founding year, 2002, Crocs™ introduced an innovative shoe made of a revolutionary material called Croslite™.
What Does Crocs Stand For?
Crocs are made from a material called Croslite, a “proprietary closed-cell resin” that is neither plastic nor rubber and was developed by Crocs predecessor Foam Creations. How Croslite got its name is harder to suss out; the Cros- prefix may be a scrambling of “closed-cell resin.”
Who Made Crocs Famous?
So, how did Crocs get it so right? When Lyndon “Duke” Hanson, and George Boedecker Jr unveiled their “Beach” classic plastic clog at the Fort Lauderdale Boat Show in Florida, and sold out the first 200 pairs, little did they know the phenomenon they had just started.
What’s So Special About Crocs?
They’re waterproof and breathable.
The signature whack-a-mole surface of the Classic Clog is what gives Crocs its distinct look. They also allow your feet to breathe and water to drain easily, making them an ideal summer shoe.
Does Crocs Have A Lot Of Debt?
With net debt to EBITDA of 2.7 Crocs has a fairly noticeable amount of debt. On the plus side, its EBIT was 9.2 times its interest expense, and its net debt to EBITDA, was quite high, at 2.7. Importantly, Crocs grew its EBIT by 41% over the last twelve months, and that growth will make it easier to handle its debt.
How Much Is The CEO Of Croc Worth?
The estimated net worth of Andrew Rees is at least $135 Million dollars as of 2023-02-14. Andrew Rees is the CEO of Crocs Inc and owns about 1,106,240 shares of Crocs Inc (CROX) stock worth over $135 Million. Details can be seen in Andrew Rees’s Latest Holdings Summary section.
In the above post, I’ve discussed everything about whos the CEO of Crocs in detail. Andrew Rees’ journey as the CEO began in 2014 as President and then he reached this rank in 2017. Crocs’ net worth can be roughly in the range of 4 to 8 billion USD under Andrew Rees’ tenure CEO of Crocs.
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