Oakley appoints new chief financial officer

Author: Mendoza College

FOOTHILL RANCH, Calif., Oct. 20, 2005 (PRIMEZONE) -- Oakley, Inc. (NYSE:OO) today announced that it has appointed Richard J. Shields, CPA, as its chief financial officer effective November 3, 2005. Mr. Shields, 48, will oversee the company's finance and accounting functions bringing more than 20 years of senior financial experience to his new role. He will report directly to chief operating officer Link Newcomb.

"Richard is an accomplished executive with extensive corporate financial experience including international operations, retail and manufacturing," said Oakley Chief Executive Officer Scott Olivet. "We believe that he is an ideal person to lead Oakley's finance organization, solidifying our executive management team as we work to further develop our diversified product platforms."

"I'm excited to join Oakley, one of the world's most respected brands, known for its excellence in innovative technology and design," said Shields. "I look forward to pursuing the company's extensive growth opportunities as part of the senior management team."

From October 2002 to April 2005 Mr. Shields served as chief financial officer of Southwest Water Company (Nasdaq:SWWC), which provides water related services and generates revenues in excess of $200 million. Prior to Southwest Water, Mr. Shields has served as chief financial officer at Day Software Corporation, Winfire Corporation and Frame-N-Lens Optical, Inc. He also served as international controller and finance director for the Americas for AST Research, a personal computer manufacturer. Earlier he worked in corporate finance with Taco Bell Corporation and began his career at the public accounting firm Price Waterhouse.

Mr. Shields has a master of business administration from the University of Notre Dame and a bachelors of arts in business from Eastern Washington University. He is a licensed certified public accountant in California and is an avid outdoor sports enthusiast.