Former Deckers Brands CEO and current Santa Barbara candidate for mayor Angel Martinez has been replaced as the company’s board chairman by John M. Gibbons effective Sept. 1.
However, Martinez will continue to serve on the board, according to a Security and Exchange Commission filing.
Martinez reportedly had come under fire by some minority investors for running as a candidate for Santa Barbara mayor. He has never had a public political office, but said recently that he considers that “an asset.”
Marcato Capital Management LP, a San Francisco company that owns 6 percent of Deckers’ stock, said in June that Martinez’s bid for mayor and “missteps” about a review at the company has made shareholders question if the board will have leadership to address its financial problems.
Martinez resigned last year as Deckers CEO, but until now retained his board chairman role. Marcato wanted Deckers to get an entire new management team.
Deckers investors have made noise all year about selling the company, which at one point was worth some $2 billion.
The Goleta-based company has said it has a plan to improve operating profits by $100 million by fiscal year 2020.
Martinez’s replacement, Gibbons, worked has been an independent director of Deckers since July 2000.
He worked with The Learning Network in 2000. He served as president of TRI-M Communications, Inc. from June 2000 to August 2001 and as CEO of TMC Communications Inc. from August 2001 to February 2004 and vice chairman from June 2000 to February 2004.
Gibbons worked in management positions with Computer Communications Technology Corp. from 1976 to 1983, Digital Sound Corp. from 1983 to 1986, Vistek, Inc. from 1986 to 1987 and Com Systems, Inc. from 1988 to 1993.
Gibbons has a bachelor’s in business administration in accounting from Notre Dame and an MBA from USC.