Deckers Brands provided an update on its ongoing process of adding new perspectives and fresh voices to its Board of Directors.

As part of that process, Deckers intends to appoint at least two new independent directors by its 2018 annual meeting of stockholders. The appointment of new directors will coincide with an equal number of retirements from the existing Board.

In line with its commitment to meet the needs of its consumers, win in the marketplace and deliver value to stockholders, the Deckers Board is seeking individuals with highly additive skills and relevant experience, taking into account Deckers’ global, multi-brand, and multi-channel business model. Further, these new directors are intended to increase Board diversity and reduce the average tenure of independent directors. Deckers is working with a leading director search firm on the Board refreshment process.

“We have always been and remain committed to strong governance practices that support stockholder value creation,” said John Gibbons, chairman of the board. “The Board has been actively engaged in a search for new directors with the demonstrated expertise and backgrounds necessary to guide our ongoing, successful transformation. Identifying individuals with the right knowledge and experience to maximize our Board’s effectiveness is a top priority. To that end, and given our ongoing commitment to represent all of our stockholders, the Board intends to actively seek input from our significant stockholders, in addition to retaining a leading director search firm.”

Deckers has a strong track record of Board refreshment and regularly evaluates potential candidates. In that regard, Deckers has appointed three new directors since 2014 and a new Chairman in September 2017. The average tenure of Deckers’ directors is already well below the average of the companies in the Russell 2000 Index.

Deckers expects to hold its 2018 Annual Meeting in September 2018, consistent with the timing of its prior annual meetings.

Deckers’ portfolio of brands includes Ugg, Koolaburra, Hoka One One, Teva and Sanuk.