Crocs Inc.’s former CEO has resigned from the company’s board of
directors, according to a filing with the Securities & Exchange
Commission. Snyder left the board for personal reasons and not because
of any disagreement with the company.

Snyder announced his retirement in February, effective March 16, from
his role as president and CEO. He remained on the board to offer any
help to his replacement, John Duerden. Snyder had served as Crocs’ CEO
from January 2005.

Crocs said its separation agreement with Snyder includes accelerated
vesting of options, restricted stock awards and deferred bonuses. In
return, Snyder is prevented – until Dec. 31, 2010 – from competing
against Crocs or from soliciting employees or customers of his former
company. He also isn’t allowed to make disparaging remarks about Crocs.