Oakley Chairman Boosts His Share

Oakley Inc.’s chairman, Jim Jannard, plans to increase his majority ownership of the company by buying as many as 1 million shares, the sunglass maker said Tuesday.

Jannard completed a previously announced purchase of another million shares, increasing his stake in the company to more than 50%, the company said.

In December, the stock had a sharp drop when Oakley warned that Sunglass Hut International Inc., its main customer, had canceled or delayed orders for its sunglasses, which sell for as much as $300 a pair.