Skechers USA announced that its CFO David Weinberg has been promoted to the position of COO and that Fred Schneider, who has been a member of the company's Board of Directors and Chairman of its Audit Committee, has been appointed as its CFO. In addition, Morton D. Erlich has been elected to replace Mr. Schneider on the Board of Directors and as Chairman of the Audit Committee.
“In just 13 years, SKECHERS has grown into a phenomenal billion-dollar mega-brand. Our strong management team, of which David Weinberg is a key member, has led the company to this incredible success,” began Robert Greenberg, SKECHERS CEO and Chairman of the Board. “Our success and growth has dictated increases to our operations and infrastructure — in facilities, employees, logistics, and more. To better allow David (Weinberg) to manage the day-to-day operations, we have promoted him to Chief Operating Officer and appointed Fred Schneider as the company's CFO. We are fortunate to have two highly accomplished executives leading the operations and finance of our company, and I feel we will further prosper and excel even more under their guidance.”
Michael Greenberg, Skechers' president, stated: “This change in our senior management is exciting both for me and the company. I'm looking forward to working more closely with David (Weinberg) on the strategic growth of our domestic and international divisions, and I welcome Fred (Schneider), who previously played an important role on our Board of Directors, as our new CFO. I believe the Company has many growth opportunities in both the short and long term, and I believe we have the ideal management team in place to take Skechers to the next level — from a billion dollar brand into a multi-billion dollar brand. I'm looking forward to another successful 13 years with our management team.”
As the COO, Mr. Weinberg will be responsible for the day-to-day operations of the company — including the 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 also focus on growing the company's international and e-commerce divisions as well as building its infrastructure and distribution capabilities. Mr. Weinberg has served as Skechers' CFO for 12 years. He will continue to serve as EVP and a member of the Board of Directors, two positions he has held since July 1998.
As the CFO of Skechers, Mr. Schneider 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 25-years of business finance experience, Mr. 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 LLP, where he worked for 17 years. Most recently, he has served as a senior managing director of Pasadena Capital Partners, a private equity investment firm focused on making equity investments in established, small middle-market companies. Mr. Schneider presently serves on the boards of directors of Sport Chalet, Inc. and Meade Instruments, Inc.
Mr. Erlich worked for 34 years at KPMG LLP, including 24 years as an audit partner until retiring in 2004.
