Former Deckers Brands CEO and current Santa Barbara mayoral candidate Angel Martinez has retired as a member of the Deckers board of directors to focus on his campaign.
Martinez’s retirement “is not the result of any disagreement with the company on any matter relating to its operations, policies or practices,” according to a document released Oct. 24 by the Security and Exchange Commission. “The company thanks Mr. Martinez for his service.”
Th SEC document also said the Deckers board amended and restated its bylaws to decrease the number of directors on the board to nine. This comes after activist investor Marcato International sued the Deckers board for preventing the hedge fund’s nominees for taking position on the board and postponed the company’s annual shareholder meeting.
Marcato officials have been pushing for Deckers to be sold at a good price this year, and were unhappy with Martinez for seeking public office. He stepped down as CEO earlier this year, but remained on the board until retiring Oct. 20, according to the SEC.
A local poll reportedly shows Martinez running far behind four other hopefuls trying to garner the Santa Barbara mayor’s job. Martinez has never run for public office before, but says that’s an asset.