Skullcandy Names New CEO

More than a month after Park City, Utah-based Skullcandy (NASDAQ: SKUL  ) announced the resignation of Chief Executive Officer Jeremy Andrus, the company says it's found a replacement, and company founder Rick Alden can quit temping as interim CEO.

The "performance audio" earbuds manufacturer announced Monday that it has hired former Nike + Digital Sport general manager Hoby Darling, 37, to take the reins from Alden, effective immediately. Alden praised Darling as "a best in class addition to this team," citing his experience with emerging and global brands.

Chairman of the Board Jeff Kearl was quoted in the company press release as saying he was "stoked" that Alden has agreed to stay on full time at the company. "He will play an integral role with the executive team at Skullcandy helping set the vision and strategy for the future, as well as attacking the immediate initiatives outlined on the last earnings call," Kearl said.

According to an SEC filing, Darling's compensation as CEO will include:

  • A $450,000 base salary.
  • An annual bonus that will range from a minimum of 37.5% of his salary to a maximum of 150%, with a target of 100%.
  • $2 million worth of stock options and restricted stock units, vesting over a four-year period.
     

Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2322720, ~/Articles/ArticleHandler.aspx, 11/27/2014 4:26:30 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement