Most Overpaid CEO Of The Day: Ron Snyder Of Crocs (CROX)
November 13, 2008 by Douglas A. McIntyre
Leave aside being overpaid. It is stunning that Ron Snyder, CEO of Crocs (CROX), can keep his job. After repeated earnings disappointments, shares in the company hit a 52-week low today of $.79, down from the period high of $46.80.
Crocs reported a net loss of $148 million for the third quarter compared with net income of $57 million in the period a year ago. Revenue dropped 32% to $174 million from $256 million. Wall St estimates were for sales of $202 million.
But, it was guidance that bled the stock price out. Crocs estimated a Q4 loss of $.50 to $.65 a share on revenue of $100 million to $120 million. Analysts estimates were for sales of $186 million.
CEO Snyder made almost $7 million last year with a base salary of $800,000 and $3.2 million in deferred compensation.
Crocs market cap fell to about $75 million today.
Douglas A. McIntyre
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