Martin Coles has resigned as president of the Reebok Brand, citing personal reasons for his decision. Jay Margolis, president and COO of Reebok International Ltd., has assumed the daily responsibilities of leading the Reebok brand.

In a company release, Reebok said the “management team has been streamlined” and Cole’s current position will not be replaced. RBK chairman and CEO Paul Foreman said the change “will occur after a brief transition”.

Coles was appointed president and CEO of the Reebok brand in June 2002. He came to Reebok with a strong resume that included five years directing Nike’s efforts in Europe.

>>> Coles has done a great job stocking the Reebok team with Nike alums. The move could make some nervous…