Former Crocs Head Snyder Resigns From BOD, Completes Departure

Snyder Resigns From Crocs BOD For Personal Reasons

Former Crocs President & CEO RON SNYDER on June 30 resigned from the company's BOD, according to the DENVER BUSINESS JOURNAL. Crocs in a filing with the SEC said that Snyder "left the board for personal reasons and not because of any disagreement with the company." The company said that the separation agreement with Snyder includes "accelerated vesting of options, restricted stock awards and deferred bonuses," and in return Snyder is "prevented -- until Dec. 31, 2010 -- from competing against Crocs or from soliciting employees or customers of his former company." Snyder also "isn't allowed to make disparaging remarks about Crocs." Snyder "took over leadership" of Crocs as President & CEO in '05 and led the company through a "period of explosive growth." Snyder announced his retirement as President & CEO in February, effective March 16, and he "remained on the board to offer any help to his replacement," JOHN DUERDEN (BIZJOURNALS.com, 7/2).