FARMINGTON, Utah, Oct. 5, 2017 /PRNewswire/ -- Vista Outdoor
Inc.'s (NYSE: VSTO) Board of Directors announced that Christopher T. Metz will serve as the Company's
Chief Executive Officer, effective October
9, 2017. Metz will have responsibility for day-to-day
operations of the Company, and its entire brand portfolio. He will
also serve as a member of the Board of Directors. During the
Company's second quarter Board of Directors meeting, the Board will
appoint a permanent Chairman of the Board and until that date,
Michael Callahan will continue to
serve as Interim Chairman, and Ambassador April Foley will continue to serve as Lead
Independent Director.
"The Board couldn't be more pleased that Chris is joining Vista
Outdoor," said Callahan. "He has over 25 years of experience
leading consumer and industrial-based global businesses. Chris is
highly strategic, operationally savvy, and has experience improving
the performance of leading organizations. He is a motivational
leader with broad experience in sales, marketing and operations.
His capabilities will benefit Vista Outdoor as we continue our
focus on building our brands, expanding our e-commerce presence,
reducing inventory, and driving continuous improvement."
Metz was most recently the president and CEO of Arctic Cat from
2014 to 2017. From 2005 to 2014, he served as a managing director
of Sun Capital Partners, Inc., a leading private equity firm. Prior
to Sun Capital, Metz worked for Black & Decker from 1992 to
2005. During his tenure with the company, he was president of the
Hardware and Home Improvement Group from 1999 to 2005, and held
various leadership positions including president of Kwikset
Corporation, president of Price Pfister, president of Baldwin
Hardware, and general manager of European Professional Power Tools
and Accessories, during which time he lived in Frankfurt, Germany.
Metz serves on the board of Acushnet Holdings Corporation (NYSE:
GOLF). He holds a bachelor's degree in finance and marketing from
the University of Delaware and earned a
master of business administration degree from the Kenan Flagler
School of Business, University of North
Carolina at Chapel Hill. He is an avid hunter, angler and
cyclist.
"I am thrilled to join the Vista Outdoor team," said Metz. "The
company is a leader in outdoor sports and recreation products, with
a unique and well-positioned portfolio of brands. I look forward to
working with the talented employees as we leverage Vista Outdoor's
capabilities to deliver innovative products, build upon strategic
partnerships, improve performance, and drive shareholder
value."
"The Board of Directors extends its appreciation to Mike for
stepping into the interim CEO role and for working closely with the
Company's strong team," said Ambassador Foley. "Mike has provided
continuity throughout this transition and we, along with the
employees at Vista Outdoor, are grateful for his service."
Vista Outdoor will hold its Fiscal Year 2018 Second Quarter
Earnings Call on November 9,
2017.
About Vista Outdoor Inc.
Vista Outdoor is a leading
global designer, manufacturer and marketer of consumer products in
the growing outdoor sports and recreation markets. The company
operates in two segments, Outdoor Products and Shooting Sports, and
has a portfolio of well-recognized brands that provides consumers
with a wide range of performance-driven, high-quality and
innovative products for individual outdoor recreational pursuits.
Vista Outdoor products are sold at leading retailers and
distributors across North America
and worldwide. Vista Outdoor is headquartered in Farmington, Utah and has manufacturing
operations and facilities in 13 U.S. States, Canada, Mexico and Puerto
Rico along with international sales and sourcing operations
in Asia, Australia, Canada and Europe. For news and information visit
www.vistaoutdoor.com or follow us on Twitter @VistaOutdoorInc and
Facebook at www.facebook.com/vistaoutdoor.
Forward-Looking Statements
Certain statements in this
press release and other oral and written statements made by Vista
Outdoor from time to time are forward-looking statements, including
those that discuss, among other things: Vista Outdoor's plans,
objectives, expectations, intentions, strategies, goals, outlook or
other non-historical matters; projections with respect to future
revenues, income, earnings per share or other financial measures
for Vista Outdoor; and the assumptions that underlie these matters.
The words 'believe', 'expect', 'anticipate', 'intend', 'aim',
'should' and similar expressions are intended to identify such
forward-looking statements. To the extent that any such
information is forward-looking, it is intended to fit within the
safe harbor for forward-looking information provided by the Private
Securities Litigation Reform Act of 1995. Numerous risks,
uncertainties and other factors could cause Vista Outdoor's actual
results to differ materially from expectations described in such
forward-looking statements, including the following: general
economic and business conditions in the U.S. and Vista Outdoor's
other markets, including conditions affecting employment levels,
consumer confidence and spending; Vista Outdoor's ability to
attract and retain key personnel and maintain and grow its
relationships with customers, suppliers and other business
partners, including Vista Outdoor's ability to obtain acceptable
third party licenses; Vista Outdoor's ability to adapt its products
to changes in technology, the marketplace and customer
preferences; Vista Outdoor's ability to maintain and enhance
brand recognition and reputation; reductions, unexpected changes in
or our inability to accurately forecast demand for ammunition,
firearms or accessories or other outdoor sports and recreation
products; risks associated with Vista Outdoor's sales to
significant retail customers, including unexpected cancellations,
delays and other changes to purchase orders; supplier capacity
constraints, production disruptions or quality or price issues
affecting Vista Outdoor's operating costs; Vista Outdoor's
competitive environment; risks associated with compliance and
diversification into international and commercial markets; the
supply, availability and costs of raw materials and components;
increases in commodity, energy and production costs; changes in
laws, rules and regulations relating to Vista Outdoor's business,
such as federal and state firearms and ammunition regulations;
Vista Outdoor's ability to execute its long-term growth strategy,
including our ability to complete and realize expected benefits
from acquisitions and integrate acquired businesses; Vista
Outdoor's ability to take advantage of growth opportunities in
international and commercial markets; foreign currency exchange
rates and fluctuations in those rates; the outcome of
contingencies, including with respect to litigation and other
proceedings relating to intellectual property, product liability,
warranty liability, personal injury and environmental remediation;
risks associated with cybersecurity and other industrial and
physical security threats; capital market volatility and the
availability of financing; changes to accounting standards or
policies; and changes in tax rules or pronouncements. Vista Outdoor
undertakes no obligation to update any forward-looking statements.
For further information on factors that could impact Vista Outdoor,
and statements contained herein, please refer to Vista Outdoor's
filings with the Securities and Exchange Commission.
Media
Contact:
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Investor
Contact:
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Amanda
Covington
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Michael
Pici
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Phone:
801-447-3035
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Phone:
801-447-3168
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E-mail:
media.relations@vistaoutdoor.com
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E-mail:
investor.relations@vistaoutdoor.com
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SOURCE Vista Outdoor Inc.