Reebok Brand President MARTIN COLES has resigned citing personal reasons. Reebok Int'l President & COO JAY MARGOLIS has assumed Coles' duties, and the position will not be replaced (Reebok). Coles oversaw the expansion of Reebok's "Rbk" line, part of the company's efforts to attract younger consumers, as well as the signing of hip-hop artists to endorse Reebok shoes and clothing (BIZJOURNALS.com, 2/4).
KEEP ON SHINING: In Boston, Greg Gatlin writes that Coles was known "as a strategic thinker who built strong relationships with retailers." News of the resignation left analysts and retailers "scratching their heads." Wells Fargo analyst JOHN SHANLEY said, "I talked to a lot of retailers that were as taken aback as I was." Shanley added that Coles "may have wanted more responsibility" at Reebok. Gatlin notes Coles' departure came one day after Reebok said that it would keep Senior VP THOMAS SHINE on the job, despite his pleading guilty to federal conspiracy charges. Analysts said that Coles' departure "was unrelated" to Shine (BOSTON HERALD, 2/5).
