Crocs has announced that it is selling off its last two factories and that its chief financial officer will be leaving next year.
The shoe brand said it will be shutting down a factory in Mexico and another in Italy as it outsources production in the hunt for greater profits, the Daily Mail reports.
Meanwhile CFO Carrie Teffner will be leaving the business at the end of March 2019 to be replaced by Anne Mehlman, of Amazon-owned shoe-seller Zappos.com.
Teffner is resigning her position this month and will leave the company effective April 1, 2019 'to pursue strategic board and advisory work'.
Announcement of her move comes after Crocs closed 28 of its 558 worldwide stores.