EVANSVILLE, Ind., Feb. 22, 2021 /PRNewswire/ -- Escalade, Inc.
(NASDAQ: ESCA) announced today that the Escalade Board of Directors
appointed Walter P. Glazer, Jr. as
Escalade's Interim Chief Executive Officer and President effective
as of February 19, 2021. Mr. Glazer
replaced Scott J. Sincerbeaux, who
resigned from all of his positions with Escalade, including as
Chief Executive Officer and President, and as a director, on
terms being mutually agreed upon by the Company and Mr.
Sincerbeaux.
Mr. Glazer, age 62, has served as a director at Escalade since
2015 and as Chairman of the Board of Directors since May
2018. Mr. Glazer will continue to serve as Chairman. Mr.
Glazer has also served as the Chief Executive Officer of Speedball
Art Products Company since 1997.
"We thank Scott for his service and appreciate the passion and
energy he brought to Escalade. As Scott looks forward to spending
more time with his family, we wish him the best in all future
endeavors," Mr. Glazer said. "Escalade's strong financial
performance this past year demonstrates the opportunity for our
company to continue to build on its success while not only
investing in our growing lines of business and talented global
team, but also sustaining our strong corporate culture. We will
soon begin a search process to identify a permanent CEO to guide us
in this exciting new phase of our growth."
Escalade is a leading manufacturer and marketer of sporting
goods products sold worldwide. To obtain more information on the
Company and its products, visit our website at: www.EscaladeInc.com
or contact Patrick Griffin, Vice
President, Corporate Development and Investor Relations, at
812/467-1358.
ABOUT ESCALADE SPORTS
Headquartered in Evansville,
IN, Escalade Sports is a global manufacturer and distributor
of sports and outdoor recreational equipment. Leaders in
their respective categories, Escalade Sports' brands include Bear®
Archery, Bear X™, Trophy Ridge®, Rocket®, SIK® and Cajun
Bowfishing™ archery equipment; STIGA® and Ping-Pong® table tennis;
Accudart® and Unicorn® darting; RAVE Sports® water recreation
products; Atomic®, Victory Tailgate®, Triumph™ Sports, Viva Sol®,
Zume Games® recreational games; DURA® and Onix® pickleball
equipment; Goalrilla™, Goalsetter® residential in-ground basketball
systems, Goaliath® and Silverback® residential in-ground and
portable basketball goals; Lifeline® and the STEP® fitness
products; Woodplay® premium playsets; American Heritage Billiards®
- premium billiards and game room assortment; and Cue&Case® - a
leader in specialty billiard accessories. Escalade Sports' products
are available at sporting goods dealers and independent retailers
nationwide. For more information on Escalade Sports, its
brands, instruction manuals, retailers, warranty, replacement parts
or customer service, please call 1-888-784-4288 or visit
www.escaladesports.com
FORWARD LOOKING STATEMENTS
This press release contains forward-looking statements
relating to present or future trends or factors that are subject to
risks and uncertainties. These risks include, but are not limited
to: specific and overall impacts of the COVID-19 global pandemic on
Escalade's financial condition and results of operations;
Escalade's plans and expectations surrounding the transition to its
new Interim Chief Executive Officer and all potential related
effects and consequences; the impact of competitive products and
pricing; product demand and market acceptance; new product
development; Escalade's ability to achieve its business objectives,
especially with respect to its Sporting Goods business on which it
has chosen to focus; Escalade's ability to successfully achieve the
anticipated results of strategic transactions, including the
integration of the operations of acquired assets and businesses and
of divestitures or discontinuances of certain operations, assets,
brands, and products; the continuation and development of key
customer, supplier, licensing and other business relationships; the
ability to develop and implement our own direct to consumer
e-commerce distribution channel; the ability to successfully
negotiate the shifting retail environment and changes in consumer
buying habits; the financial health of our customers; disruptions
or delays in our business operations, including without limitation
disruptions or delays in our supply chain, arising from political
unrest, war, labor strikes, natural disasters, public health crises
such as the coronavirus pandemic, and other events and
circumstances beyond our control; Escalade's ability to control
costs; Escalade's ability to successfully implement actions to
lessen the potential impacts of tariffs and other trade
restrictions applicable to our products and raw materials,
including impacts on the costs of producing our goods, importing
products and materials into our markets for sale, and on the
pricing of our products; general economic conditions; fluctuation
in operating results; changes in foreign currency exchange rates;
changes in the securities markets; Escalade's ability to obtain
financing and to maintain compliance with the terms of such
financing; the availability, integration and effective operation of
information systems and other technology, and the potential
interruption of such systems or technology; risks related to data
security of privacy breaches; and other risks detailed from time to
time in Escalade's filings with the Securities and Exchange
Commission. Escalade's future financial performance could differ
materially from the expectations of management contained herein.
Escalade undertakes no obligation to release revisions to these
forward-looking statements after the date of this press
release.
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SOURCE Escalade, Incorporated