Former Nike Executive, Hoby Darling Appointed Skullcandy’s CEO (SKUL)

Skullcandy Inc. (NASDAQ: SKUL) announced on Monday that it has appointed Hoby Darling as the new President and CEO as the embattled headphone maker looks to transform itself in the backdrop of changing dynamics in the audio category.

Hoby Darling will succeed Skullcandy founder Rick Alden, who served as an interim CEO while the company was on the lookout for permanent replacement.

The Park City, Utah-based Company said that Hoby Darling, who previously served as a digital executive at Nike Inc, will take the reins of the Company immediately. The appointment of Darling as the new CEO comes just two months after Skullcandy’s ex-CEO Jeremy Andrus decided to resign from his post to pursue a career in a private-investment firm. Andrus was instrumental in leading the Company’s initial public offer back in 2011.

“I am extremely excited to join the Skullcandy team at this early stage of the company’s global growth cycle,” Darling said in a statement.

Prior to joining Skullcandy, Darling served as the general manager in Nike Inc’s digital sports unit, a division that is engaged in making of athletic gears such as motion-tracking FuelBank and several other technologies focused kits. Before that Darling also served as an executive at Volcom, an apparel maker.

For Darling, the job is cut out. Earlier in March, the head phones maker handed very poor fiscal first quarter results, citing packaging blunders, and the company’s inability to adapt quickly to changing trends in the audio segment. Shares have tumbled 32% since then.

Although the Company posted double digit sales growth after it went public, sales have been under pressure in the recent past. For the current quarter, the Company has already issued a warning that sales could plunge 30% even as it looks to overhaul its distribution channels and put more focus on tackling falling market share amid changing dynamics in the headphone market.

However, on Monday, following the announcement of leadership change, shares rebounded in aftermarket hours. Share climbed 6% in aftermarket trading.