Skullcandy CFO resigns, Calif. office to be closed

Skullcandy announces resignation of CFO and shift of some operations from California to Utah

Associated Press

PARK CITY, Utah (AP) -- Skullcandy's chief financial officer is leaving and the headphone maker said Tuesday that it will shut down some departments now in Southern California and shift operations to its headquarters in Utah.

The company said that Kyle Wescoat leaving the company to remain closer to his home in Southern California.

Wescoat became Skullcandy's CFO in October. Previously he had been vice president and CFO at Vizio Inc. He likely will remain with the company through September during the search for his replacement.

Skullcandy is moving its marketing, creative, business development and legal departments, as well as some sales and international personnel, to its headquarters in Park City, Utah. It will close the office in San Clemente, Calif. where those operations have been based, by early fall.

The company said it wants to better align its product, marketing and sales functions. It expects to record a pre-tax restructuring charge of between $3 million and $3.8 million related to the move. Between $500,000 and $1 million of that charge is expected in the second quarter, the company said.

Skullcandy has about 30 employees in San Clemente, Calif. and most of them will be given the chance to relocate Park City.

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