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Skullcandy Founder/CEO Resigns

Park City, Utah –
Headphones manufacturer Skullcandy announced the resignation of its founder and
CEO, Rick Alden.

Alden will be replaced
by Jeremy Andrus, currently president and COO. Andrus joined Skullcandy in 2005
and has been president and COO since June 2008.

Details about the cause
for Alden’s resignation were not given, and a company spokesman noted that the
company is currently in registration for a potential IPO and therefore limited
by the IPO quiet period.

 Alden said in a statement: “Jeremy has been
the greatest partner an entrepreneur could hope for to assist building a
concept into the company that Skullcandy has become.  I expect he will be fantastic in his new role
as CEO.” 

Alden has been the head
of the company since it was founded in 2003. As a major shareholder, he will
remain on the board of directors, according to Skullcandy.

“Rick developed his
inspiration for Skullcandy on a chairlift in Park City and has worked
tirelessly to create and establish the Skullcandy brand,” said Jeff Kearl,
chairman of the board, in the statement. “I support Rick’s decision and would
like to thank him for his hard work and leadership. Skullcandy has always
looked at change as an opportunity, and this marks a new chapter for the

Andrus commented, “I am
honored to have the opportunity to build upon what Rick has created.  Skullcandy has been an amazing six-year
journey, and I look forward to continuing the voyage in my new role as