Crocs Shares Fall After CFO Steps Down

Shares of Crocs were tumbling in Tuesday’s trading session after the company announced that its chief financial officer, Carrie Teffner, would be stepping down.

Teffner is leaving her role at Crocs this month and will leave the company next April.
In her place as CFO will be Anne Mehlman, a former vice president of corporate finance for the shoemaker and the current CFO of Zappos.

“Carrie originally joined Crocs as a Board member in 2015 and stepped into the CFO role to assist with the Company’s transformation,” explained CEO Andrew Rees. “During this time, we have made significant progress, including a return to topline growth and significantly improved profitability.”

Crocs also announced second quarter financial results, revealing earnings of 35 cents per share. Analysts had been expecting 31 cents a share. Revenue at $328 million was also ahead of the $321 million that analysts had expected.

Looking ahead, Crocs expects revenue between $240 million and $250 million for the third quarter, which would be in line with consensus estimates.

Disclaimer: We have no position in Crocs, Inc. (NASDAQ: CROX) and have not been compensated for this article.