Skullcandy founder resumes CEO role

PARK CITY, Utah-- Skullcandy, a manufacturer of performance headphones, has named Rick Alden, the company's founder, former CEO and a current director, as Interim CEO. Jeremy Andrus has decided to step down from his positions as resident and CEOand a company director to join a private investment firm. He will serve as a consultant to the company over the next 12 months. The voard is initiating a search for a permanent CEO.

Jeff Kearl, chairman of Skullcandy, said, "The board is delighted that Rick has agreed to return to his previous role as CEO on an interim basis. As our founder and a member of the Board, Rick created the vision and spirit that guides Skullcandy, and will help to make the changes necessary to continue improving financial performance and to enhance shareholder value. On behalf of the board I want to thank Jeremy for his significant contributions to Skullcandy over the previous eight years. Skullcandy would not be the company we are today without him and we wish him every success in his next endeavor."

Alden, who founded Skullcandy in 2003, added, "I am honored to play this role in the next chapter at Skullcandy. This company has been my life since founding it and I'm excited to come back in as we enter our second decade. I could not be more fired up to jump back in and get my hands dirty, especially around product development and geographic expansion. Jeremy has helped create a world-class operation and his leadership has resulted in numerous awards and recognition from our industry and customers for excellence in supply chain, sourcing, manufacturing, product development and logistics. With an excellent team of skull-bleeding fanatics and this strong operational foundation, Skullcandy and Astro, our gaming brand that has become a highlight of the business, have an exciting future."

Alden founded Skullcandy in January 2003 and until March 2011 served as CEO. He was named Ernst & Young Entrepreneur of the Year in 2007, selected as the Utah CEO of the Year in 2008, and was featured as Entrepreneur of the Year by Entrepreneur Magazine in 2009. Prior to founding Skullcandy, in 1995 Rick co-founded Device Manufacturing, a snowboard boot and binding company, which was acquired by the Atomic Ski Company in 1999. In 1986, Rick co-founded National Snowboard Incorporated, a snowboard events and marketing company, which was acquired by the American Ski Association in 1991. Rick also remains active in various entrepreneurial endeavors. He is the creator, co-founder and director of Stance, a high-growth action sports-inspired hosiery company, and a director of Celtek, an action sports apparel company. He holds a B.S. from the University of Colorado.