John McCarvel, Crocs, Inc.
Company: Crocs, Inc., Niwot, CO
Entry Submittted By: Linhart Public Relations
Company Description: Born in Boulder, Colo. as a simple, comfortable boat shoe, today Crocs™ footwear can be found across the globe and in more than 120 styles for men, women and children. With distinct collections, Crocs offers colorful, lightweight comfort for any occasion and every season.
Nomination Category: Management Awards Categories
Nomination Sub Category: Turnaround Executive of the Year
Nomination Title: John McCarvel, President and Chief Executive Officer
Tell the story about what this nominee achieved since January 1 2010 (up to 500 words). Focus on specific accomplishments, and relate these accomplishments to past performance or industry norms. Be sure to mention obstacles overcome, innovations or discoveries made, and outcomes:
Over the past 12 months, Crocs, Inc. has undergone a dramatic turnaround led by President and CEO John McCarvel. Since being named president and CEO in March of last year, McCarvel has led the company from one written off for dead by investors and the media in 2009, to a company with one of the best-performing stocks in 2010, outperforming Nike and other leading footwear manufacturers.
In the span of one year, McCarvel took the company from a net loss of $42
million on revenue of $645.8 in 2009, to a net profit of $67.7 million on
revenue of $789.7 million in 2010. Revenue increased 22.3%.
The company’s turnaround is due in large part to successful initiatives led by
McCarvel, including:
- Product portfolio diversification. McCarvel helped Crocs launch three new
collections in 2010, bringing the total number of Crocs shoe styles to more
than 250, which now include four-season footwear styles from the original clog-
style to wedges, flats, boots, high heels and sneakers. Under McCarvel’s
leadership, the company also successfully entered the toning market and
developed a new sneaker line for men.
- U.S. and global retail expansion. In 2010, Crocs opened 61 new stores
worldwide, including new stores in major growth markets such as China and
Russia. Included in the expanded branded retail footprint: two flagship retail
stores, one in Crocs’ hometown of Boulder, Colo., and another in New York’s
Soho neighborhood. The new local and global retail expansion was vital in
showcasing Crocs’ expanded product portfolio.
- Online digital expansion. This expansion included developing country-
specific websites and expanding the company’s mobile presence, giving consumers
access to Crocs’ shoes anywhere and at any time. Crocs now does business online
in 30 languages.
- Corporate social responsibly platform expansion. Over the past year,
McCarvel has been heavily involved in reinvigorating Crocs’ corporate social
responsibly platform, called Crocs Cares. Crocs Cares is focused on helping to
make a difference in the lives of children and families in need through
initiatives that positively impact the environment, employees and local and
global communities. Specifically, McCarvel has worked to elevate the Crocs
Cares program by expanding the scope and depth of its initiatives and adding a
new employee volunteer component, which offers employees paid time off for
volunteering. Over the course of 2010, roughly 25 events, monetary and shoe
donations and community outreach initiatives took place under the Crocs Cares
banner. Some of these initiatives included:
- An employee-driven holiday fundraiser that raised $20,000 for The Children’s
Hospital in Denver.
- An employee shoe-packing initiative where more than 20,000 shoes were sorted
and shipped to local Colorado charities, including Volunteers of America,
Mental Health Corporation of Denver and Airline Ambassadors. The donated shoes
were also sent to hundreds of USO (United Service Organizations) service
members and their families, as well as to low-income families in Denver. The
event was the brainchild of McCarvel, and was designed to build employee morale
and encourage team-building, while donating to a good cause.
- Working with the Global Aid Network to donate 10,000 shoes to Pakistan to
help the thousands of people left homeless in the wake of last summer’s
flooding disaster.
- Donating 80,000 pairs of shoes, in addition to water, food and emergency
medical supplies, to the citizens of Haiti after last year’s earthquake. The
extra provisions were sent with the help of Feed the Children, a non-profit
organization that provides humanitarian aid to people around the world.
List hyperlinks to any online news stories, press releases, or other documents that support the claims made in the section above. IMPORTANT: Begin each link with http://, and enclose each link in square brackets; for example, [http://www.youraddress.com]:
News about Crocs President and CEO, John McCarvel:
- “Veteran Crocs Executive, John McCarvel, Named President and Chief Executive Officer of Crocs, Inc.” – http://company.crocs.com/news-releases/veteran-crocs-executive-john-mccarvel-named-president-and-chief-executive-officer-of-crocs-inc-2/
- “Crocs promotes executive John McCarvel to CEO” –
http://www.dailycamera.com/ci_14469938
- “John McCarvel featured on Squawk Box” – http://www.cnbc.com/id/15840232/?video=1636800421&play=1
- “Denver Business Journal Power Book Finalists - Retail & Product
Marketing” – http://www.bizjournals.com/denver/print-edition/2010/10/29/power-book-finalists---retail.html
News about Crocs diversifying its portfolio:
- 2010 Spring/Summer “Feel the Love” Collection:
- “Crocs, Inc. Invites the World to “Feel the Love™” with Wearable Hugs for
Spring and Summer” – http://company.crocs.com/news-releases/crocs-inc-invites-the-world-to-%e2%80%9cfeel-the-love%e2%84%a2%e2%80%9d-with-wearable-hugs-for-spring-and-summer-2/
- “Love ‘Em or Leave ‘Em? Crocs Stages a (High-Heeled) Comeback, but Will it
Work? http://articles.nydailynews.com/2010-04-15/news/27061878_1_high-heels-shoes-ballerina-flats
- “Why Crocs Wants Consumers to ‘Feel the Love” –
http://www.brandweek.com/bw/content_display/news-and-features/direct/e3i309cdb262cc7125e438b294d8cf24bf3
- “Crocs, Inc. Introduces Robust Collection of New Back to School Shoes” –
http://company.crocs.com/news-releases/crocs-inc-introduces-robust-collection-of-new-back-to-school-shoes/
- “Crocs New Back to School Shoes” –
http://www.businesswire.com/portal/site/Crocs-New-Back-To-School-Styles/
- “Crocs, Inc. World Leader in Innovative Casual Footwear, Debuts New Styles
with Patent-Pending Toning Technology” – http://company.crocs.com/news-releases/introduction-of-innovative-crocs-tone%e2%84%a2-collection-reshapes-toning-category/
- “Crocs boasts new styles, like toning, for comeback” –
http://www.boston.com/business/articles/2010/09/29/crocs_boasts_new_styles_like_toning_for_comeback/
News about Crocs new Boulder and Soho retail locations and the company’s global
growth:
- “Crocs opening store on Boulder’s Pearl Street Mall” –
http://www.dailycamera.com/ci_13554661?source=most_emailed
- “Crocs Store Opening in Historic Soho House” –
http://www.nbcnewyork.com/blogs/threadny/THREAD-Crocs-Store-Opening-in-Historic-Soho-Townhouse-87365252.html
- “Crocs, Inc Announces Retail Expansion Into Puerto Rico with New Stores” –
http://company.crocs.com/news-releases/crocs-inc-announces-retail-expansion-into-puerto-rico-with-new-stores/
News about Crocs expanded presence online:
- “Crocs, Inc. Expands Digital Footprint with New Online Offerings” –
http://company.crocs.com/news-releases/crocs-inc-expands-digital-footprint-with-new-online-offerings/
- “Crocs goes mobile and more international” –
http://www.internetretailer.com/2010/09/24/crocs-goes-mobile-and-more-international
- “Crocs steps into mobile to drive footwear sales” –
http://www.mobilemarketer.com/cms/news/commerce/5176.html
- “Firethorn’s SWAGG Application Expands its Mobile Footprint Through
Collaboration with Crocs, Inc.” – http://company.crocs.com/news-releases/firethorns-swagg-apllication-expands-its-mobile-footprint-through-collaboration-with-crocs-inc/
- “Soon-to-be-released SWAGG mobile gift card app adds Crocs” –
http://www.retailcustomerexperience.com/article/177344/Soon-to-be-released-SWAGG-mobile-gift-card-app-adds-Crocs
News about Crocs’ 2010 Crocs Cares initiatives:
- Crocs Cares Homepage – http://crocscares.com/where/
- “Crocs Cares Boulder Clean-Up May 2010” – http://www.youtube.com/watch?v=4t41f_9QvtQ
- “Crocs, Inc. Leads Community in Collections for Earthquake Victims” –
http://company.crocs.com/news-releases/crocs-inc-leads-community-in-collections-for-earthquake-victims/
- “Crocs, Inc. Reaches Milestone of More Than 2.5 Million Shoe Donations” –
http://company.crocs.com/news-releases/crocs-inc-reaches-milestone-of-more-than-2-5-million-shoe-donations/
Provide a brief (up to 100 words) biography about the nominee:
John P. McCarvel is the president and CEO of Crocs, Inc. Mr. McCarvel was
appointed president and CEO of the company in March 2010 after serving as
Crocs’ chief operating officer and executive vice president, a title he held
since October 2006. In his previous role, Mr. McCarvel was responsible for
spearheading Crocs’ Asian business operations. Today, he oversees the company’s
global operations infrastructure, as well as its international wholesale and
direct to consumer channels.
McCarvel previously served as senior vice president for global product
development and operations from October 2005 to September 2006, and vice