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[May 14, 2014]
BRIEF: Crocs names Andrew Rees as president, interim executive officer [Daily Camera, Boulder, Colo. :: ]
(Daily Camera (Boulder, CO) Via Acquire Media NewsEdge) May 14--Niwot-based shoe company Crocs Inc. appointed Andrew Rees, a former executive at Reebok, as its president and interim executive officer, officials announced Tuesday.
Rees, 47, joined Crocs from L.E.K. Consulting, a global management consulting firm, where he worked for 14 years. Prior to L.E.K., Rees held executive roles at Reebok International.
Rees will receive an annual base salary of $700,000 and was awarded a $200,000 signing bonus, according to an employment agreement disclosed on Wednesday with the U.S. Securities and Exchange Commission.
Rees, who is eligible to participate in Crocs' cash bonus plan with a target of at least double his base salary, was granted short- and long-term stock and incentive awards that could total more than $5 million -- depending on whether certain goals are met.
Rees is expected to join Crocs on or before June 9, officials said.
Crocs' search for a permanent CEO is ongoing.
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