Orbitz Names Crocs Executive As Financial Chief

Date : 01/03/2011 @ 7:45AM
Source : Dow Jones News
Stock : Crocs, Inc. (MM) (CROX)
Quote : 6.59  0.12 (1.85%) @ 8:00PM

Orbitz Names Crocs Executive As Financial Chief

Crocs, Inc. (MM) (NASDAQ:CROX)
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   DOW JONES NEWSWIRES 
 

Orbitz Worldwide Inc. (OWW) named the former financial chief of Crocs Inc. (CROX) to the same position at the online-travel company.

Russ Hammer, who led the restructuring efforts at shoe maker Crocs, also held a variety of senior executive positions at Motorola Inc. (MOT). He replaces Marsha Williams, whose retirement was announced in June.

Orbitz Worldwide said in November its third-quarter earnings more than doubled, thanks to strong summer travel demand and lower overhead costs. The travel industry has continued to rebound from last year's weak demand, with a number of airlines and hotel companies posting stronger profits in recent quarters.

Orbitz has long generated most of its revenue from airline and domestic bookings, though it has made a push to expand internationally and into hotel bookings.

Both Orbitz and Crox were inactive premarket. They closed Friday at $5.59 and $17.12, respectively. Orbitz fell 24% in 2010, while Crox nearly tripled.

-By Lauren Pollock, Dow Jones Newswires; 212-416-2356; lauren.pollock@dowjones.com

 
 

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