SKECHERS announced that Fred Schneider has been appointed to the Company's board of directors and the audit committee of the board of directors.

With more than 25 years of business finance experience, Schneider has served as chief financial officer and principal of Leonard Green & Partners, L.P., a leading private equity money management firm. Prior to his role at Leonard Green & Partners, L.P., he was an audit and due diligence partner at KPMG Peat Marwick, where he served for 17 years. While at KPMG, he served as SKECHERS' first audit partner when the Company was privately held. Most recently, Schneider has performed consulting engagements for a number of companies, including a role as chief financial officer. He also was a co-founder of the Pasadena Angels, a private angel capital investment group in which he serves as director; and he is presently serving on the board of directors at Sport Chalet, Inc.

“Now in our twelfth year of business and fifth as a public company, SKECHERS is truly a mega brand and an industry leader. We are fortunate in our strong management team and board of directors who have guided the Company to its present position as an international corporation,” began Robert Greenberg, CEO and chairman of the board. “Fred Schneider is an important addition to our board, and his expertise gained as an audit partner and financial consultant will aid us in effectively and efficiently managing our business as a leading lifestyle brand.”

Schneider has replaced Thomas J. Poletti on the Company's board. In addition to serving on the Board, Poletti has served as securities counsel to the Company continuously since 1995 through his law firm, Kirkpatrick & Lockhart LLP. (Under new independence rules issued by the Securities and Exchange Commission, paid advisors and consultants are prohibited from serving as outside board members. While it is unclear from the rules whether Poletti is actually required to step down, the Company and Poletti mutually decided that it is in the Company's best interest for him to do so.)

Michael Greenberg, SKECHERS' president, stated: “Tom Poletti has been an integral member of our board and we are thankful for his contributions and insights. He has served with distinction on the Company's board of directors and the audit committee of the board of directors since January 2002. We look forward to continuing to work with him as our outside legal counsel, where he has done an outstanding job.”