Nautilus, Inc. Appoints Proven Digital Innovator as New Chief Executive Officer
July 08 2019 - 4:05PM
Business Wire
Former Microsoft Executive Has Extensive
Experience in Digitally Transforming and Growing Leading Brands
Nautilus, Inc. (NYSE: NLS) today announced that its board of
directors has named James “Jim” Barr IV as Chief Executive Officer.
He will assume day-to-day leadership of the Company on July 29 and
will also join Nautilus, Inc.’s board of directors. Barr is a
C-level leader with multiple successes transforming and growing
large scale digital and multichannel businesses in diverse
industries.
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Nautilus, Inc. Appoints Proven Digital
Innovator as New Chief Executive Officer (Photo: Business Wire)
Barr, a digital/e-commerce veteran, most recently helped lead,
as Group President at Ritchie Bros., a global leader in the sales
of used industrial equipment with transaction value of $5.3
billion, a successful digital transformation that expanded the
60-year-old company’s offerings from its core onsite auctions to a
full array of onsite and online formats, enhancing the value
proposition by giving customers unprecedented choice of ways to buy
and sell. He led the company’s global marketing, technology and
online product teams, ran its online businesses and helped the
company launch new offerings in asset management software.
Prior to Ritchie Bros., Jim was EVP and Chief Digital Officer of
OfficeMax, a global retailer/wholesaler of office equipment,
supplies and business services with revenue of over $7 billion and
a top ten largest online retailer. There, he transformed its online
and omnichannel experiences and turned around its online business
from declining revenue to double-digit growth each and every
quarter before the company ultimately merged with Office Depot.
In 2008, Barr was named the first President of Sears Holdings’
newly-formed Online Business Unit, another top ten online retailer,
where he developed and drove an omnichannel and online strategy
that rapidly expanded the product assortment and produced strong
double-digit online growth and rapid increases in customer
satisfaction.
Jim’s foundational digital experiences came as an executive for
12 years in Microsoft’s online businesses as GM, MSN Business
Development, where he partnered to bring revenue, content and
capabilities to the MSN network before heading the company’s B2C
online businesses as GM, Commerce Services, where his engineering
and business teams developed and ran online shopping, classified
advertising and auction businesses, as well as platforms and
technologies, which ultimately powered the ecommerce experience in
Microsoft’s Bing search engine.
“As Nautilus, Inc. continues to transform its business
leveraging technology to provide our customers a personalized
fitness experience, we are excited to have Jim Barr, with his
extensive technology and digital expertise, to drive Nautilus into
its next era,” said M. Carl Johnson, III, Chairman of the Board of
Directors of Nautilus, Inc. and Interim Chief Executive Officer.
“Jim’s proven capabilities of driving growth through people
leadership, consumer-driven marketing, innovation and technology,
and digital prowess will greatly enhance Nautilus’ plans to extend
its global fitness position.”
“This is a time of tremendous opportunity for Nautilus, as
technology evolves fitness through connected devices and software
experiences, Artificial Intelligence (AI), greater customization
and depth of customer interactions, and other capabilities that
vastly improve the way we live healthy lifestyles,” said Jim Barr.
“With leading brands, high quality global cardio and strength
products, passionate employees, and world-class strategic partners,
Nautilus has strong potential to deepen relationships with
customers and build on its strong heritage as a leader in
fitness.”
About Nautilus, Inc. Headquartered in Vancouver,
Washington, Nautilus, Inc. (NYSE: NLS) is a global fitness
solutions company that believes everyone deserves a fit and healthy
life. With a brand portfolio including Bowflex®, Modern Movement®,
Nautilus®, Octane Fitness®, Schwinn® and Universal®, Nautilus, Inc.
develops innovative products to support healthy living through
direct and retail channels as well as in commercial channels.
This press release includes forward-looking statements
(statements which are not historical facts) within the meaning of
the Private Securities Litigation Reform Act of 1995, including:
planned investments and initiatives and the anticipated results of
such initiatives. Factors that could cause Nautilus, Inc.’s actual
results to differ materially from these forward-looking statements
include: weaker than expected demand for new or existing products;
our ability to timely acquire inventory that meets our quality
control standards from sole source foreign manufacturers at
acceptable costs; an inability to pass along or otherwise mitigate
the impact of raw material price increases and other cost
pressures, including unfavorable currency exchange rates;
experiencing delays and/or greater than anticipated costs in
connection with launch of new products, entry into new markets, or
strategic initiatives; our ability to hire, retain and integrate
key management personnel, including our new Chief Executive
Officer; changes in consumer fitness trends; changes in the media
consumption habits of our target consumers or the effectiveness of
our media advertising; a decline in consumer spending due to
unfavorable economic conditions; and softness in the retail
marketplace. Additional assumptions, risks and uncertainties are
described in detail in our registration statements, reports and
other filings with the Securities and Exchange Commission,
including the “Risk Factors” set forth in our Annual Report on Form
10-K, as supplemented by our quarterly reports on Form 10-Q. Such
filings are available on our website or at www.sec.gov. You are
cautioned that such statements are not guarantees of future
performance and that our actual results may differ materially from
those set forth in the forward-looking statements. We undertake no
obligation to publicly update or revise forward-looking statements
to reflect subsequent developments, events or circumstances.
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version on businesswire.com: https://www.businesswire.com/news/home/20190708005695/en/
Media Contacts: John Fread Nautilus, Inc. 360-859-5815
jfread@nautilus.com
Carey Kerns The Hoffman Agency 503-754-7975
ckerns@hoffman.com
Investor Relations: John Mills ICR, LLC 646-277-1254
john.mills@ICRinc.com
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