Andrew Rees, who became president of Crocs two years ago, will replace Gregg Ribatt as chief executive on June 1, consolidating the two functions. Ribatt, who will remain on the board of directors, said the company was ready for the change after the progress it had made in 2016 in terms of product, systems, processes and the organization. The number of SKUs has been reduced by nearly 50 percent since 2014, and inventories have been pared down. Among other management changes, Ann Chan, senior vice president and general manager for Europe, will move to the U.S. as SVP and GM for the Americas. The current SVP for Asia, the Middle East and Africa, David Thomson, will assume responsibility for Europe as well. While reporting further losses for the fourth quarter of last year, Crocs also announced plans to close down about 160 stores around the world in the next two years, while promoting Adam Michael to the position of senior vice president of global e-commerce in a clear move from offline to online retailing. More about Crocs, including its latest financial results, in Shoe Intelligence.

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