Skechers Appoints Yolanda Macias to Its Board of Directors

Rhea-AI Summary

Skechers USA, Inc. (NYSE:SKX) appointed Yolanda Macias to its Board of Directors, increasing the total to eight members, including five independents. This move aims to enhance board diversity and leverage Macias’s experience in digital content and marketing as Skechers targets $10 billion in annual sales by 2026. With Macias's extensive background at Cinedigm and other notable firms, Skechers anticipates strengthening its competitive position in the rapidly evolving digital commerce landscape.

Positive

• Appointment of Yolanda Macias expected to enhance board diversity and bring fresh perspectives.
• Broad experience in digital content and marketing to support Skechers' strategic goals.
• Targeting $10 billion in annual sales by 2026 indicates potential growth trajectory.

Negative

• None.

LOS ANGELES--(BUSINESS WIRE)-- Skechers USA, Inc. (NYSE:SKX), The Comfort Technology Company™, announced today that Yolanda Macias has been appointed to its Board of Directors. The appointment brings the total number of directors to eight, including five independent members, three of whom are women appointed over the last three years.

Yolanda Macias is appointed to Skechers’ Board of Directors. (Photo: Business Wire)

“Skechers is the third largest athletic lifestyle brand in the world, a position achieved through our ability to design comfortable, innovative and stylish products, and deliver our offering where and how consumers desire it. Given the growing emphasis on the fast-changing world of digital commerce, we felt further expanding and diversifying our Board of Directors with a creative business leader would be an asset to our brand,” began Robert Greenberg, Skechers Chief Executive Officer and Chairman of the Board. “Yolanda brings a new perspective, and we believe she will complement our current directors. We look forward to leveraging her experience as we execute our strategic plans, maintain our position as a competitive force in this industry and drive toward our goal of $10 billion in annual sales by 2026.”

Yolanda Macias has been at Cinedigm Entertainment Group (Nasdaq:CIDM) since 2013, currently serving as the Chief Content Officer where she oversees global content acquisitions, in addition to digital and physical sales and marketing. Prior to Cinedigm, Ms. Macias held various positions at Gaiam Inc., Vivendi Entertainment, which was a division of Universal Music Group, DirecTV, Inc., Technicolor and The Walt Disney Company. Ms. Macias currently serves on the Board of Directors and the Executive Committee of C5LA, which is a non-profit organization that helps under-resourced, high potential youth to enroll and to succeed in college. She also serves on the Advisory Board for The Digital Entertainment Group’s Canon Club, which is dedicated to supporting women in entertainment and technology.

The Skechers Board of Directors is now comprised of Skechers Founder, Chairman and Chief Executive Officer Robert Greenberg, Skechers President Michael Greenberg, Skechers Chief Operating Officer David Weinberg, as well as independent members Katherine Blair, Morton Erlich, Zulema Garcia, Yolanda Macias, and Richard Siskind.

About Skechers USA, Inc.

Skechers USA, Inc., The Comfort Technology Company™ based in Southern California, designs, develops and markets a diverse range of lifestyle and performance footwear, apparel and accessories for men, women and children. The Company’s collections are available in the United States and over 180 countries and territories via department and specialty stores, and direct to consumers through 4,306 Company and third-party-owned retail stores and e-commerce websites. The Company manages its international business through a network of global distributors, joint venture partners in Asia, Israel and Mexico, and wholly-owned subsidiaries in Canada, Japan, India, Europe and Latin America. For more information, please visit about.skechers.com and follow us on Facebook, Instagram, Twitter, and TikTok.

This announcement contains forward-looking statements that are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements may include, without limitation, Skechers’ future domestic and international growth, financial results and operations including expected net sales and earnings, its development of new products, future demand for its products, its planned domestic and international expansion, opening of new stores and additional expenditures, and advertising and marketing initiatives. Forward-looking statements can be identified by the use of forward-looking language such as “believe,” “anticipate,” “expect,” “estimate,” “intend,” “plan,” “project,” “will be,” “will continue,” “will result,” “could,” “may,” “might,” or any variations of such words with similar meanings. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected in forward-looking statements. Factors that might cause or contribute to such differences include the disruption of business and operations due to the COVID-19 pandemic; delays or disruptions in our supply chain; international economic, political and market conditions including the challenging consumer retail markets in the United States; sustaining, managing and forecasting costs and proper inventory levels; losing any significant customers; decreased demand by industry retailers and cancellation of order commitments due to the lack of popularity of particular designs and/or categories of products; maintaining brand image and intense competition among sellers of footwear for consumers, especially in the highly competitive performance footwear market; anticipating, identifying, interpreting or forecasting changes in fashion trends, consumer demand for the products and the various market factors described above; sales levels during the spring, back-to-school and holiday selling seasons; and other factors referenced or incorporated by reference in Skechers’ annual report on Form 10-K for the year ended December 31, 2021. More specifically, the COVID-19 pandemic has had and is currently having a significant impact on Skechers’ business, financial conditions, cash flow and results of operations. Forward-looking statements with respect to the COVID-19 pandemic include, without limitation, Skechers’ plans in response to this pandemic. At this time, there is significant uncertainty about the COVID-19 pandemic, including without limitation, (i) the duration and extent of the impact of the pandemic, (ii) governmental responses to the pandemic, including how such responses could impact Skechers’ business and operations, as well as the operations of its factories and other business partners, (iii) the effectiveness of Skechers’ actions taken in response to these risks, and (iv) Skechers’ ability to effectively and timely adjust its plans in response to the rapidly changing retail and economic environment. Taking these and other risk factors associated with the COVID-19 pandemic into consideration, the dynamic nature of these circumstances means that what is stated in this press release could change at any time, and as a result, actual results could differ materially from those contemplated by such forward-looking statements. The risks included here are not exhaustive. Skechers operates in a very competitive and rapidly changing environment. New risks emerge from time to time and we cannot predict all such risk factors, nor can we assess the impact of all such risk factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Given these risks and uncertainties, you should not place undue reliance on forward-looking statements as a prediction of actual results. Moreover, reported results should not be considered an indication of future performance.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220405006197/en/

Jennifer Clay

SKECHERS USA, Inc.

jennc@skechers.com

Source: Skechers USA, Inc.

FAQ

Who is Yolanda Macias and what role will she play at Skechers?

Yolanda Macias is appointed to Skechers' Board of Directors, bringing expertise in digital content and marketing to support the company's strategic initiatives.

What are Skechers' sales targets for the coming years?

Skechers aims to achieve $10 billion in annual sales by 2026.

How does Yolanda Macias's appointment impact Skechers?

Her appointment is expected to diversify the board and enhance strategic direction in digital commerce.

What is the current composition of Skechers' Board of Directors?

The Board includes eight members, with five independent directors, three of whom are women.

What company does Yolanda Macias currently work for?

Yolanda Macias is the Chief Content Officer at Cinedigm Entertainment Group (Nasdaq:CIDM).