Future’s So Bright: Oakley Tabs Scott Olivet As CEO

Oakley named SCOTT OLIVET CEO, succeeding Oakley Founder, Chair & CEO JIM JANNARD, effective October 10. Jannard will continue as Chair. Since ’01, Olivet has served as Nike VP/Nike Subsidiaries & New Business Development (Oakley). In California, Hang Nguyen reports Oakley hired a new CEO “to help the company reach $1[B] in sales.” Jannard, who has served as CEO for nearly five years and helped create Oakley’s Thump line of mp3 sunglasses, said that he has been “involved in the day-to-day operations while working on creating new products in the evenings and on weekends.” Wedbush Morgan Securities analyst VERA VAN ERT said that hiring a new CEO “from a big company like Nike is a logical step for a growing company like Oakley.” Van Ert: “Oakley is looking to grow its retail business.” Van Ert added Olivet’s retail background at Gap Inc. “is a perfect fit” (ORANGE COUNTY REGISTER, 9/21).