Crocs Names New President, CEO

Maker of colorful plastic clogs on Wednesday named John Duerden as president and chief executive, replacing Ron Snyder, who is retiring.

NIWOT, Colo. (AP) -- Crocs Inc., which makes colorful plastic clogs, on Wednesday named John Duerden as president and chief executive, replacing Ron Snyder, who is retiring.

Duerden's appointment is effective March 16.

Duerden previously worked at Xerox Corp. and as president and chief operating officer of Reebok International. He has more than 20 years of experience managing at the senior level.

Duerden will arrive at Reebok from the Chrysallis Group, a consulting group he formed in 2006.

Snyder will continue as a member of the company's board of directors.

Earlier this month, Crocs said it lost 40 cents per share in the fourth quarter, narrower than the 53 cent per share loss that analysts surveyed by Thomson Reuters had predicted. Results were helped by lower inventory.

Shares of Crocs rose a penny to $1.38.

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