ANOKA,
Minn., Aug. 10, 2022 /PRNewswire/ -- Vista
Outdoor Inc. (NYSE: VSTO), the parent company of 40 renowned brands
that design, manufacture and market sporting and outdoor products
to consumers around the globe, is pleased to announce the addition
of two independent members, Gerard
Gibbons and Bruce Grooms, to
its Board of Directors. Mr. Gibbons and Mr. Grooms were both
elected to the Board of Directors by Vista Outdoor's shareholders
at the Company's Annual Meeting of Stockholders on July 26, 2022.
Mr. Gibbons' extensive experience in global supply chain,
logistics and marketing will bring tremendous value to Vista
Outdoor. Mr. Gibbons previously spent more than 30 years with
United Parcel Services (UPS) in a variety of commercial roles. In
2008, he accepted the assignment as President of U.S. Sales,
responsible for UPS's most profitable small and medium business
customer segment. He was later assigned the role of President of
U.S. and SMB Marketing, a position he held until his retirement
from UPS in 2021. He holds an MBA from the W.P. Carey School of Business at Arizona State University and a BBA with a
concentration in Marketing from Howard
University. Mr. Gibbons currently serves on the boards of
two private equity portfolio companies and the board of Big
Brothers/Big Sisters of Metro Atlanta. Mr. Gibbons will serve as a
member of the Audit Committee and the Nominating and Governance
Committee of the Board.
Mr. Grooms brings extensive senior-level executive experience in
both the private sector and the U.S. Navy. A retired Navy
Vice Admiral with more than 30 years of successful executive
leadership, Mr. Grooms is currently the Vice President and General
Manager of the Marine Services Division for Delphinus Engineering,
a privately held company that specializes in ship repair and
maintenance. Prior to Delphinus Engineering, he was a Vice
President at Raytheon Technologies Corp., heading up all business
development activities in support of the Navy and Marine Corps Programs. Until 2015, Mr.
Grooms served as a career submarine officer and served as the
Commandant of the U.S. Naval Academy,
nearly 10 years of which Mr. Grooms spent serving in various roles
of increasing responsibility within NATO command. Additionally, Mr.
Grooms has served on nonprofit boards and is currently serving as
an independent director on the board of Emcore Corp., a publicly
traded technology company in the aerospace and defense industry.
Mr. Grooms has been selected as a director due to his extensive
leadership, corporate governance, and industry experience. Mr.
Grooms will serve as a member of Management Development and
Compensation and Audit Committees of the Board.
"The directors and I are pleased to welcome these two highly
talented leaders as new members of the Vista Outdoor Board," said
Michael Callahan, Vista Outdoor's
Chairman of the Board. "These individuals will add tremendous value
to the organization with their expertise across the public and
private sector. We expect great things from our newest directors
and look forward to their contributions on behalf of Vista Outdoor
and our stakeholders."
Chris Metz, Vista Outdoor CEO,
added, "We welcome Gerard Gibbons
and Bruce Grooms to the Vista
Outdoor Board of Directors, and we are confident they will make an
immediate and positive impact on the company's performance.
Gerard's background and expertise in supply chain, notably his
dynamic 30-plus-year career at UPS, make him a valuable asset as
Vista Outdoor navigates an increasingly complex global marketplace.
And Bruce's vast experience in the public and private sectors,
including several critical leadership roles for the U.S.
Navy and large corporations, will serve
to strengthen our corporate leadership and governance efforts."
With these appointments, Vista Outdoor's Board of Directors
consists of 11 members, including 18 percent female and 18 percent
diversity beyond gender.
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. We serve a broad and diverse range
of consumers around the globe, including outdoor enthusiasts,
golfers, cyclists, backyard grillers, campers, hunters,
recreational shooters, athletes, as well as law enforcement and
military professionals. Our reporting segments, Outdoor Products
and Sporting Products, provide these consumers with a wide range of
performance-driven, high-quality and innovative outdoor and
sporting products. Our operating model leverages shared resources
across brands to achieve levels of excellence and performance that
would be out of reach for any one brand on its own. Brands include
Remington Ammunition, Bushnell, CamelBak, Bushnell Golf, Foresight
Sports, Fiber Energy Products, Bell Helmets, Camp Chef, Giro,
QuietKat, Stone Glacier, Federal Ammunition and more. Vista Outdoor
products are sold at leading retailers and distributors across
North America and worldwide. For
news and information, visit our website at
www.vistaoutdoor.com.
Forward-Looking
Statements
Some of the statements made and information contained in this
report, 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: 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 the war in Ukraine and the imposition of sanctions on
Russia, 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;
and risks related to our Planned Separation. 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 2022 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.
Media
Contact:
|
Investor
Contact:
|
|
|
Eric Smith
|
Shelly
Hubbard
|
Phone:
901-573-9156
|
Phone:
612-518-5406
|
E-mail:
media.relations@vistaoutdoor.com
|
E-mail:
investor.relations@vistaoutdoor.com
|
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SOURCE Vista Outdoor Inc.