Mike Dennison to Join Fox Factory Holding Corp. as President, Powered Vehicles Group
August 07 2018 - 8:00AM
Fox Factory Holding Corp. (NASDAQ:FOXF) (“FOX”) today announced
that Mike Dennison will join FOX as President, Powered Vehicles
Group (“PVG”), effective August 29, 2018. Mr. Dennison will
continue to serve as a director on FOX’s Board of Directors.
As President of FOX’s Powered Vehicles Group, Mike will help
drive the execution of and continued strategic direction of the
PVG. Bill Katherman, who was acting interim President, PVG,
will continue in his existing role as Senior Vice President,
Strategic Operations managing FOX’s global operations strategy.
“As a director, Mike has been a great resource for the FOX team
and I look forward to his continuing insightful contributions,
commitment, and leadership in his new role,” stated Larry L.
Enterline, FOX's Chief Executive Officer. “Mike is an experienced
corporate executive with a tremendous background in international
consumer products, high-technology, and global supply chain
management; he is also a long-time FOX enthusiast.”
Mr. Dennison was most recently President and Chief Marketing
Officer for Flex Ltd. (NASDAQ:FLEX) and has also served as a
director on FOX’s Board of Directors since February 2018. While at
FLEX, Mr. Dennison served in a number of leadership roles, from
leading procurement and global supply chain organizations for the
company, to serving as Senior Vice President of Business Management
for both the High-Velocity Solutions group, and for the Mobile and
Consumer Segment. Prior to joining FLEX, he was the Regional
Director at Arrow Electronics, based in New York. Mr. Dennison
holds a bachelor's of arts degree in liberal arts from Oregon State
University.
About Fox Factory Holding Corp. (NASDAQ:
FOXF)
Headquartered in Scotts Valley, CA, Fox Factory Holding Corp.
designs and manufactures performance-defining ride dynamics
products primarily for bicycles, on-road and off-road vehicles and
trucks, side-by-side vehicles, all-terrain vehicles, snowmobiles,
specialty vehicles and applications, and motorcycles. The Company
is a direct supplier to leading power vehicle OEMs.
Additionally, the Company supplies top bicycle OEMs and their
contract manufacturers, and provides aftermarket products to
retailers and distributors.
FOX is a registered trademark of Fox Factory, Inc. NASDAQ Global
Select Market is a registered trademark of The NASDAQ OMX Group,
Inc. All rights reserved.
Cautionary Note Regarding
Forward-Looking Statements
Certain statements in this press release
including earnings guidance may be deemed to be forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended and Section 21E of the Securities Exchange Act
of 1934, as amended. The Company intends that all such statements
be subject to the “safe-harbor” provisions contained in those
sections. Forward-looking statements generally relate to future
events or the Company’s future financial or operating performance.
In some cases, you can identify forward-looking statements because
they contain words such as “may,” “might,” “will,” “would,”
“should,” “expect,” “plan,” “anticipate,” “could,” “intend,”
“target,” “project,” “contemplate,” “believe,” “estimate,”
“predict,” “likely,” “potential” or “continue” or other similar
terms or expressions and such forward-looking statements include,
but are not limited to, statements about the Company’s continued
growing demand for its products; the Company’s execution on its
strategy to improve operating efficiencies; the Company’s optimism
about its operating results and future growth prospects; the
Company’s expected future sales and future non-GAAP adjusted
earnings per diluted share; and any other statements in this press
release that are not of a historical nature. Many important factors
may cause the Company’s actual results, events or circumstances to
differ materially from those discussed in any such forward-looking
statements, including but not limited to: the Company’s ability to
complete any acquisition and/or incorporate any acquired assets
into its business; the Company’s ability to improve operating and
supply chain efficiencies; the Company’s future financial
performance, including its sales, cost of sales, gross profit or
gross margin, operating expenses, ability to generate positive cash
flow and ability to maintain profitability; factors which impact
the calculation of the weighted average number of diluted shares of
common stock outstanding, including the market price of the
Company’s common stock, grants of equity-based awards and the
vesting schedules of equity-based awards; the Company’s ability to
develop new and innovative products in its current end-markets and
to leverage its technologies and brand to expand into new
categories and end-markets; the Company’s ability to increase its
aftermarket penetration; the possibility that the Company may not
be able to accelerate its international growth; the Company’s
ability to maintain its premium brand image and high-performance
products; the Company’s ability to maintain relationships with the
professional athletes and race teams that it sponsors; the
possibility that the Company may not be able to selectively add
additional dealers and distributors in certain geographic markets;
the overall growth of the markets in which the Company competes;
the Company’s expectations regarding consumer preferences and its
ability to respond to changes in consumer preferences; changes in
demand for high-end suspension and ride dynamics products; the
Company’s ability to successfully identify, evaluate and manage
potential acquisitions and to benefit from such acquisitions;
future economic or market conditions; and the other risks and
uncertainties described in “Risk Factors” contained in its Annual
Report on Form 10-K or Quarterly Reports on Form 10-Q or otherwise
described in the Company’s other filings with the Securities and
Exchange Commission. New risks and uncertainties emerge from time
to time and it is not possible for the Company to predict all risks
and uncertainties that could have an impact on the forward-looking
statements contained in this press release. In light of the
significant uncertainties inherent in the forward-looking
information included herein, the inclusion of such information
should not be regarded as a representation by the Company or any
other person that the Company’s expectations, objectives or plans
will be achieved in the timeframe anticipated or at all. Investors
are cautioned not to place undue reliance on the Company’s
forward-looking statements and the Company undertakes no obligation
to publicly update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by law.
CONTACT:
ICRKatie Turner646-277-1228Katie.Turner@icrinc.com
Fox Factory (NASDAQ:FOXF)
Historical Stock Chart
From Mar 2024 to Apr 2024
Fox Factory (NASDAQ:FOXF)
Historical Stock Chart
From Apr 2023 to Apr 2024