Skechers USA Inc. announced that the company has hired John Vandemore to serve as chief financial officer. This expansion of the Skechers executive team will allow David Weinberg, who had been filling both CFO and COO roles, to focus more attention on the company’s operations in support of its continued growth around the globe.
Vandemore will report directly to Weinberg and assume his new position within the next few weeks.
“With the pace of international growth we’ve been experiencing at Skechers, the addition of John (Vandemore) means I can truly focus more attention on the rapidly growing segments of our international countries, as well as those that we see having strong potential,” began Weinberg, chief operating officer of Skechers. “Our success brings with it the challenge of increased pressure on reporting and John’s experience, most notably at The Walt Disney company and Mattel, is proof that he’ll be an essential asset to me and the senior team moving forward. Further, I believe John will be key in ensuring that our financial strategy supports growth efficiency in tune with meeting our ongoing filing obligations.”
“I started Skechers 25 years ago, and for that entire journey David Weinberg has been key in making this company the incredible success that it is today,” began Robert Greenberg, chief executive officer of Skechers. “As international now represents more than 50 percent of our total business, we must continue to ramp up operations and infrastructure to meet the demand. David understands how to do it the right way at the right speed to maintain our forward momentum. With John (Vandemore) handling CFO responsibilities, David will now have the bandwidth to travel and find opportunities to maximize our efficiencies around the globe. We’re fortunate to have both of these talented executives on our team, and believe this bolstering of our executive team will allow us to continue to profitably grow.”
In his ongoing role as chief operating officer, Weinberg will continue to be responsible for the day-to-day operations of the company—including planning and directing all aspects of the company’s operational policies, objectives and initiatives, and the attainment of short- and long-term financial and operational goals to ensure future growth. He will devote particular attention to increasing efficiencies in the international business as it continues to be the main driver of overall growth. Weinberg has been with Skechers since it was founded in 1992, and was named chief financial officer in 1993 and chief operating officer in 2006. Since 1998, he has also served as executive vice president and a member of the company’s Board of Directors.
As the CFO of Skechers, Vandemore will be responsible for overseeing the company’s reporting and filing obligations before the United States Securities and Exchange Commission, and for directing the company’s overall financial policies, including accounting, budget, credit, insurance, tax, and treasury. With more than two decades of business finance experience, Vandemore has served as executive vice president and division chief financial officer of Mattel Inc. Prior to that he was the chief financial officer and treasurer of International Game Technology Plc — a computerized gaming machine manufacturer. And he spent 12 years in operations and finance roles at The Walt Disney company including five years as vice president and chief financial officer of Walt Disney Imagineering.