Brand-name shoe company Skechers has promoted chief financial officer David Weinberg to the position of chief operating officer of the company and appointed Fred Schneider new chief financial officer.

Fred Schneider has been a member of the company's board of directors and chairman of its audit committee. Morton Erlich will replace Schneider in his previous roles.

Skechers chief executive and chairman Robert Greenberg said: "Our success and growth has dictated increases to our operations and infrastructure - in facilities, employees, logistics, and more.

"To better allow David (Weinberg) to manage the day-to-day operations, we have promoted him to COO and appointed Fred Schneider as the company's CFO."

Skechers president Michael Greenberg commented: "I believe the company has many growth opportunities in both the short and long term, and I believe we have the ideal management team in place to take Skechers to the next level - from a billion dollar brand into a multi-billion dollar brand. I'm looking forward to another successful 13 years with our management team."

As COO, Weinberg will be responsible for the day-to-day operations of the company, including planning and directing all aspects of the company's operational policies, objectives and initiatives, and the attainment of short- and long-term financial and operational goals to ensure future growth.

He will also focus on growing the company's international and e-commerce divisions as well as building its infrastructure and distribution capabilities.

Weinberg has served as CFO for 12 years. He will continue to serve as executive vice president and a member of the board of directors, two positions he has held since July 1998.

As CFO, Schneider will be responsible for overseeing the company's reporting and filing obligations before the United States Securities and Exchange Commission, and for directing the company's overall financial policies, including accounting, budget, credit, insurance, tax, and treasury.

With more than 25 years of business finance experience, Schneider's roles have included CFO and principal of Leonard Green & Partners, a leading private equity money management firm.

Erlich worked for 34 years at KPMG, including 24 years as an audit partner, until retiring in 2004.

Skechers designs, develops and markets a diverse range of footwear for men, women and children under 12 brand names.