New Oakley CEO Will Meet Stockholders

Oakley Inc. shareholders will get their first chance to meet new Chief Executive William D. Schmidt at the sunglass maker’s annual meeting today. The former Gatorade executive will join Chairman Jim Jannard and others in a presentation that will include information about the company’s plans and an update on its new athletic shoe and watch lines, spokeswoman Renee Law said.

When Schmidt signed on with the upscale eye wear and apparel company in May, Oakley said he would help push the company to “the next level.” Now, maybe shareholders will learn more about what that means. So far this year, Oakley’s share price is down 16%. It closed Wednesday at $8, down 38 cents, on the New York Stock Exchange.

In part, Schmidt is expected to use his marketing skills to guide Oakley. Previously he was Gatorade’s vice president of worldwide sports marketing. But shareholders expecting to see former basketball star Michael Jordan--a board member who has attended previous annual meetings--will be disappointed. Jordan won’t be attending this year, Law said. “He’s been at the last couple [of annual meetings],” she said, “so people are kind of expecting him.”

The meeting will be held at what Oakley calls its “inner-planetary Oakley’s headquarters” in Foothill Ranch.