Crocs has appointed Patraic Reagan as the new Executive Vice President and Chief Financial Officer (CFO). Reagan’s appointment takes place in a time increased financial pressure for the shoe company. In the second quarter of the year, this had to accept a loss of $ 428 million (395 million euros).
Reagan will occupy the position from September 22nd and replace Susan Healy. Healy resigned from her role on August 28, but will remain a consultant until October 31. Reagan will direct the company’s financial strategies as well as financial planning and analysis, accounting and investor relations.
He comes from household goods manufacturer Sharkninja to Crocs, where he was most recently a CFO. Before that, Reagan was at Nike for around 14 years and held various positions there. These included VP and CFO for Asia, Pacific and Latin America. He was also CFO Global Digital at Coach and Director at Polo Ralph Lauren.
In an explanation, Andrew Rees, Chief Executive Officer (CEO) from Crocs, said that Reagan’s “strong public profile” and his “track record of a constant, profitable growth” will complement the management team “when increasing the long -term shareholder value”.
In addition to the announcement of the new appointment, Crocs also confirmed its financial forecast for the third quarter of 2025. For this period, the company predicts a decline in sales of nine to eleven percent. The adjusted operational margin is expected to be in the range of 18 to 19 percent. At the time, Crocs noted that due to the “developing global trade policy and the associated pressure on consumers: inside” no year -round forecast was made.
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