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The 12 months 1999 turned out to be a turbulent one for Oakley as a result of the shoe line, which was not however worthwhile, proved to be a drag on earnings. Though revenues elevated 11 p.c for the 12 months, profits fell 18 %, to $19.8 million. There was additionally turmoil in the administration ranks, as Oakley employed William D. Schmidt, a former Olympic javelin thrower and former Gatorade govt, as CEO in April, with Newcomb returning to the COO position. In October, with the stock value all the way in which down to around $6 per share and Wall Road urgent the company to drop the troubled shoe line, Schmidt …Read More