The company has announced that Andy Keegan, currently Vice
President and interim CFO for Vista Outdoor, will serve as CFO of
Revelyst following the planned separation of the company’s Outdoor
Products segment.
Vista Outdoor Inc. (NYSE: VSTO), the parent company of 41
renowned brands that design, manufacture and market sporting and
outdoor lifestyle products to consumers around the globe, this week
announced that Andy Keegan, currently Vice President and interim
Chief Financial Officer of Vista Outdoor, will serve as CFO of
Revelyst following Vista Outdoor’s planned separation of its
Outdoor Products segment into a standalone public company. Keegan
will continue to serve as Vice President and interim CFO of Vista
Outdoor until completion of the separation.
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Andy Keegan, currently Vice President and
interim CFO for Vista Outdoor, will serve as CFO of Revelyst
following the planned separation of the company’s Outdoor Products
segment. (Photo: Business Wire)
Keegan, who has been serving as Vista Outdoor’s interim CFO
since November 2022, is well known by investors and analysts and is
highly respected across the industry. His financial leadership and
expertise have been especially valuable since Vista Outdoor
announced it will separate into two businesses. These assets make
him the ideal candidate to lead Revelyst’s financial team and join
the management team alongside the Outdoor Products segment’s
recently appointed CEO, Eric Nyman.
“Andy was the right person to steer Vista Outdoor’s financial
direction over the past 10 months and he’ll be the right financial
leader to take over as Revelyst CFO after the separation,” said
Nyman, CEO of Revelyst. “His positive contributions to the
organization are immeasurable as we separate into two standalone
companies, and Andy will bring continuity and stability to
Revelyst. Not only is Andy a savvy CFO, but he has assembled a team
that will dial in a bright financial outlook for Revelyst.”
Keegan joined Vista Outdoor’s predecessor Alliant Techsystems
Inc. in 2012 and has more than 15 years of experience in finance,
accounting and treasury. Before his current role, he was the Vice
President of Treasury and Corporate FP&A from 2020 to 2022, CFO
of the Ammunition Business unit from 2017 to 2020, Vice President
of Corporate Accounting from 2015 to 2017 and held roles of
increasing responsibility within the finance department at ATK
before Vista Outdoor’s spinoff from ATK. He began his career with
Deloitte. Keegan has undergraduate degrees in accounting and
management from St. John’s University and serves on the Board of
Directors of the Vista Outdoor Foundation.
“Serving as interim CFO for Vista Outdoor for almost a year has
prepared me to step into this new role, which I am excited to take
on,” said Keegan. “Separating the company into two has been a tall
task, but our team has been up to the challenge — just as our
Revelyst finance team is now ready to guide this new venture using
lessons of the past with a fresh vision for the future. From Vista
Outdoor to Revelyst, our goal has been, continues to be and will
remain the same: Ensure the company is well positioned to deliver
sustainable and profitable growth to shareholders.”
About Vista Outdoor Inc.
Vista Outdoor (NYSE: VSTO) is the parent company of more than
three dozen renowned brands that design, manufacture and market
sporting and outdoor products. Brands include Bushnell, CamelBak,
Bushnell Golf, Foresight Sports, Fox Racing, Bell Helmets, Camp
Chef, Giro, Simms Fishing, QuietKat, Stone Glacier, Federal
Ammunition, Remington Ammunition and more. Our reporting segments,
Outdoor Products and Sporting Products, provide consumers with a
wide range of performance-driven, high-quality and innovative
outdoor and sporting products. For news and information, visit our
website at www.vistaoutdoor.com.
Forward-Looking Statements
Some of the statements made and information contained in these
materials, excluding historical information, are “forward-looking
statements,” including those that discuss, among other things: our
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 our actual results to
differ materially from the expectations described in such
forward-looking statements, including the following: risks related
to the previously announced transaction among Vista Outdoor,
Revelyst, Inc., CSG Elevate II Inc., CSG Elevate II Inc. and
CZECHOSLOVAK GROUP a.s. (the “Transaction”), including (i) the
failure to receive, on a timely basis or otherwise, the required
approval of the Transaction by Vista Outdoor’s stockholders, (ii)
the possibility that any or all of the various conditions to the
consummation of the Transaction may not be satisfied or waived,
including the failure to receive any required regulatory approvals
from any applicable governmental entities (or any conditions,
limitations or restrictions placed on such approvals), (iii) the
possibility that competing offers or acquisition proposals may be
made, (iv) the occurrence of any event, change or other
circumstance that could give rise to the termination of the merger
agreement relating to the Transaction, including in circumstances
which would require Vista Outdoor to pay a termination fee, (v) the
effect of the announcement or pendency of the Transaction on Vista
Outdoor’s ability to attract, motivate or retain key executives and
employees, its ability to maintain relationships with its
customers, vendors, service providers and others with whom it does
business, or its operating results and business generally, (vi)
risks related to the Transaction diverting management’s attention
from Vista Outdoor’s ongoing business operations and (vii) that the
Transaction may not achieve some or all of any anticipated benefits
with respect to either business segment and that Transaction may
not be completed in accordance with our expected plans or
anticipated timelines, or at all; impacts from the COVID-19
pandemic on Vista Outdoor’s operations, the operations of our
customers and suppliers and general economic conditions; supplier
capacity constraints, production or shipping disruptions or quality
or price issues affecting our operating costs; the supply,
availability and costs of raw materials and components; increases
in commodity, energy, and production costs; seasonality and weather
conditions; our ability to complete acquisitions, realize expected
benefits from acquisitions and integrate acquired businesses;
reductions in or unexpected changes in or our inability to
accurately forecast demand for ammunition, accessories, or other
outdoor sports and recreation products; disruption in the service
or significant increase in the cost of our primary delivery and
shipping services for our products and components or a significant
disruption at shipping ports; risks associated with diversification
into new international and commercial markets, including regulatory
compliance; our ability to take advantage of growth opportunities
in international and commercial markets; our ability to obtain and
maintain licenses to third-party technology; our ability to attract
and retain key personnel; disruptions caused by catastrophic
events; risks associated with our sales to significant retail
customers, including unexpected cancellations, delays, and other
changes to purchase orders; our competitive environment; our
ability to adapt our products to changes in technology, the
marketplace and customer preferences, including our ability to
respond to shifting preferences of the end consumer from brick and
mortar retail to online retail; our ability to maintain and enhance
brand recognition and reputation; others’ use of social media to
disseminate negative commentary about us, our products, and
boycotts; 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; our ability to comply with extensive
federal, state and international laws, rules and regulations;
changes in laws, rules and regulations relating to our business,
such as federal and state ammunition regulations; risks associated
with cybersecurity and other industrial and physical security
threats; interest rate risk; changes in the current tariff
structures; changes in tax rules or pronouncements; capital market
volatility and the availability of financing; foreign currency
exchange rates and fluctuations in those rates; general economic
and business conditions in the United States and our markets
outside the United States, including as a result of the war in
Ukraine and the imposition of sanctions on Russia, the COVID-19
pandemic, conditions affecting employment levels, consumer
confidence and spending, conditions in the retail environment, and
other economic conditions affecting demand for our products and the
financial health of our customers. You are cautioned not to place
undue reliance on any forward-looking statements we make. A more
detailed description of risk factors that may affect our operating
results can be found in Part 1, Item 1A, Risk Factors, of our
Annual Report on Form 10-K for fiscal year 2023 and in the filings
we make with Securities and Exchange Commission (the “SEC”) from
time to time. We undertake no obligation to update any
forward-looking statements, except as otherwise required by
law.
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version on businesswire.com: https://www.businesswire.com/news/home/20231019555855/en/
Investor Contact: Tyler Lindwall Phone: 612-704-0147
Email: investor.relations@vistaoutdoor.com
Media Contact: Eric Smith Phone: 720-772-0877 Email:
media.relations@vistaoutdoor.com
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