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Red Mountain Calls on Board of Deckers Outdoor Corporation to Explore Sale of the Company

LOS ANGELES, CA, March 27, 2017 /PRNewswire/ - Red Mountain Capital Partners LLC ("Red Mountain"), an investment management firm owning approximately 3.3% of the outstanding shares of Deckers Outdoor Corporation ("Deckers") (DECK), today sent a letter to Deckers' Chairman of the Board, Angel Martinez, and Lead Independent Director, John Gibbons.

In its letter, Red Mountain references meetings and communications that they have had with the management and board of Deckers over the past two years with respect to Red Mountain's proposals to rationalize the Company's retail store network, streamline its brand portfolio, right-size its cost structure, optimize its balance sheet, and align its executive compensation with shareholder value creation.  Red Mountain is now calling upon the board to explore a sale of the Company because they believe that the value of a sale to a strategic or financial buyer is substantially higher than the risk-adjusted value of the standalone operating plan announced by management on February 2, 2017.  Red Mountain believes that a publicly announced sale process would address the full universe of potential buyers for the Company and restore shareholders' confidence that the board is acting in their best interests.

The full text of the letter can be found at:

http://files.newswire.ca/1405/Letter_to_Chairman.pdf

About Red Mountain Capital Partners LLC

Red Mountain was established in January 2005 by Willem Mesdag, a former partner at Goldman, Sachs & Co., to invest primarily in undervalued small cap companies and to enhance and realize shareholder value through active ownership. Red Mountain's approach to such investments is to actively engage with management teams and boards of directors in a constructive manner to unlock value for the benefit of all shareholders. Red Mountain partners have extensive experience and a successful track record of enhancing value at portfolio companies through a combination of refocusing strategy, improving operational execution, more efficiently allocating capital and upgrading corporate governance, and currently serve on the boards of five public companies in which Red Mountain's managed funds have substantial ownership stakes.