Vista Outdoor expands its Board of Directors with two new members
ANOKA, Minn., August 10, 2022 /PRNewswire/ — Vista Outdoor Inc. (NYSE: VSTO), the parent company of 40 renowned brands that design, manufacture and market sports and outdoor products to consumers around the world, 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 shareholders at the company’s annual meeting of shareholders on July 26, 2022.
Mr. Gibbons’ extensive experience in global supply chain, logistics and marketing will bring tremendous value to Vista Outdoor. Mr. Gibbons spent more than 30 years with United Parcel Services (UPS) in a variety of business roles. In 2008, he accepted the position of President of US Sales, responsible for UPS’s most profitable small and medium business customer segment. He was later named President of US and SMB Marketing, a position he held until his retirement from UPS in 2021. He holds an MBA from WP Carey School 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 holding 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 executive experience in the private sector and in the United States Marine. are tired Marine A Vice Admiral with more than 30 years of successful executive leadership, Mr. Grooms is currently Vice President and General Manager of the Marine Services Division of Delphinus Engineering, a private company specializing in the repair and maintenance of ships. Prior to Delphinus Engineering, he was Vice President at Raytheon Technologies Corp., leading all business development activities in support of the Marine and Marine Corps programs. Until 2015, Mr. Grooms served as a career submarine officer and served as commanding officer of the US Naval Academy, nearly 10 years during which Mr. Grooms held various positions of increasing responsibility within the NATO command. Additionally, Mr. Grooms has served on non-profit boards and is currently an independent director on the board of Emcore Corp., a publicly traded technology company in the aerospace and defense industry. Mr. Grooms was selected as a director because of his extensive leadership, corporate governance and industry experience. Mr. Grooms will serve as a member of the Board’s Leadership Development and Compensation and Audit Committees.
“The Directors and I are thrilled to welcome these two very talented leaders as new members of the Vista Outdoor Board of Directors,” said Michael Callahan, Chairman of the Board of Vista Outdoor. “These individuals will add tremendous value to the organization through their expertise in the public and private sectors. We expect great things from our new directors and look forward to their contributions on behalf of Vista Outdoor and our stakeholders.”
Chris MetzCEO of Vista Outdoor, added: “We welcome Gerard Gibbons and Bruce Grooms to Vista Outdoor’s Board of Directors, and we are confident that they will have an immediate and positive impact on the company’s performance. Gerard’s supply chain experience and expertise, including his dynamic career spanning more than 30 years with UPS, make him a valuable asset as Vista Outdoor navigates an increasingly complex global marketplace. And Bruce’s extensive experience in the public and private sectors, including several critical leadership roles for the United States Marine and large corporations, will serve to strengthen our leadership and corporate governance efforts. »
With these appointments, Vista Outdoor’s Board of Directors is made up of 11 members, with 18% women and 18% 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 sports and outdoor products. We serve a wide range of consumers worldwide, including outdoor enthusiasts, golfers, cyclists, backyard grillers, campers, hunters, recreational shooters, athletes, as well as law enforcement. order and military professionals. Our reporting segments, Outdoor Products and Sporting Goods, offer these consumers a wide range of innovative, high-quality and performance-oriented outdoor and sporting products. Our operating model relies on shared resources between brands to achieve levels of excellence and performance that would be out of reach for a single brand in isolation. 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 major retailers and distributors across North America and around the world. For news and information, visit our website at www.vistaoutdoor.com.
Certain of the statements made and information contained in this report, excluding historical information, are “forward-looking statements,” including those that address, among other things, our plans, objectives, expectations, intentions, strategies, goals, perspectives or other non-historical issues; projections regarding future revenues, income, earnings per share or other financial measures for Vista Outdoor; and the assumptions underlying these questions. The words “believe”, “expect”, “anticipate”, “intend”, “aim”, “should” and similar expressions are intended to identify such forward-looking statements. To the extent that such information is forward-looking, it is intended to fall within the safe harbor of forward-looking information provided by the Private Securities Litigation Reform Act of 1995. Many risks, uncertainties and other factors could cause our actual results may differ materially from the expectations described in these forward-looking statements, including the following: supplier capacity constraints, production or shipping disruptions, or quality or pricing issues affecting our operating costs; the supply, availability and costs of raw materials and components; increases in raw material, energy and production costs; seasonality and weather conditions; our ability to complete acquisitions, realize the expected benefits of acquisitions and integrate acquired businesses; unexpected reductions or changes or our inability to accurately forecast demand for ammunition, accessories or other outdoor sports and recreation products; a disruption in service or a significant increase in the cost of our primary delivery and shipping services for our products and components or a significant disruption in shipping ports; risks associated with diversifying 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 for third-party technologies; our ability to attract and retain key personnel; disruptions caused by catastrophic events; risks associated with our sales to large retail customers, including unexpected cancellations, delays and other purchase order changes; our competitive environment; our ability to adapt our products to changes in technology, market and customer preferences, including our ability to meet changing end-consumer preferences from physical retail to online retail; our ability to maintain and improve our brand awareness and reputation; others’ use of social media to post negative comments 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 numerous 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 to current rate structures; changes in tax rules or reporting; capital market volatility and availability of financing; foreign currency exchange rates and fluctuations in such rates; general economic and commercial conditions in United States and our markets abroad United Statesincluding the war 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 the risks associated with our planned separation. You are cautioned not to place undue reliance on any forward-looking statements we make. A more detailed description of the risk factors that could affect our results of operations can be found in Part 1, Item 1A, Risk Factors, of our Annual Report on Form 10-K for Fiscal 2022 and in the documents that we file with the Securities and Exchange Commission. (the “SEC”) from time to time. We undertake no obligation to update forward-looking statements, except as otherwise required by law.
SOURCEVista Outdoor Inc.