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Crocs to close all manufacturing facilities

Crocs Chief Financial Officer resigned

Flickr - Frank's socks and crocs

See you later, alligator. After a while, crocodile.

Colorado-based footwear company Crocs Inc. is closing company-owned manufacturing plants in Italy and Mexico by year's end and replacing its chief financial officer.

The company said it is "in connection with ongoing efforts to simplify the business and improve profitability." 

Carrie Teffner, Executive Vice President and Chief Financial Officer, has announced her intention to resign from Crocs effective April 1, 2019. 

Anne Mehlman, a former vice president of corporate finance for Crocs and current CFO of Zappos, will take over as CFO.

Crocs shares were trading at $18.70 at mid-day Thursday, compared to $8.50 on Aug. 9, 2017.

Last year, Crocs announced it was closing more than 150 stores by the end of 2018, KSDK reports. 

But don't start crying just yet! This response by Crocs is giving us hope! 

To read more, click here.