Vista Outside Expands its Board of Administrators with Two New Members

0
19

ANOKA, Minn., August 10, 2022 /PRNewswire/ — Vista Outdoor Inc. (NYSE: VSTO), the parent company of 40 renowned brands that design, manufacture and market athletic and outdoor products to consumers around the world, is pleased to announce the addition of two independent members to announce Gerald Gibbons and Bruce groom, 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 General Meeting July 26, 2022.

Gerald Gibbons


Bruce groom

Mr. Gibbons’ extensive global supply chain, logistics and marketing experience will add tremendous value to Vista Outdoor. Mr. Gibbons previously worked for United Parcel Services (UPS) for more than 30 years in various commercial positions. In 2008, he accepted the position of President of US Sales, responsible for UPS’s most profitable small and medium business segment. He was later promoted to the role of 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 of the business University of Arizona and a BBA with a concentration in Marketing Howard University. Mr. Gibbons currently serves on the boards of two private equity portfolio companies and on the board of Metro Atlanta’s Big Brothers/Big Sisters. Mr. Gibbons will serve as a member of the Audit Committee and the Nominating and Governance Committee of the Board.

Mr. Grooms brings extensive executive-level leadership experience in both the private sector and in the United States marine. Are tired marine Mr. Grooms, a Vice Admiral with more than 30 years of successful business leadership, is currently Vice President and General Manager of the Marine Services Division of Delphinus Engineering, a privately held company specializing in ship repair and maintenance. Prior to Delphinus Engineering, he was a vice president at Raytheon Technologies Corp. and directed all business development activities in support of marine and Marine Corps programs. Until 2015, Mr. Grooms served as a career submarine officer and served as commander of the US Naval Academy, of which Mr. Grooms spent almost 10 years in various roles of increasing responsibility within NATO Command. In addition, Mr. Grooms has served on charitable boards and currently serves as an independent director on the board of Emcore Corp. active, 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 Management Development and Compensation and Audit Committees of the Board.

“The Directors and I are pleased to welcome these two highly talented executives to the Vista Outdoor Board of Directors,” he said Michael Callahan, CEO of Vista Outdoor. “These individuals will add tremendous value to the organization with their expertise in both the public and private sectors. We expect great things from our newest directors and look forward to their contributions on behalf of Vista Outdoor and our stakeholders.”

Chris MetzVista Outdoor CEO added: “We welcome Gerald Gibbons and Bruce groom to the Vista Outdoor Board of Directors and we are confident that they will have an immediate and positive impact on the Company’s performance. Gerard’s background and supply chain expertise, particularly his dynamic 30+ year career at UPS, make him a valuable asset as Vista Outdoor navigates an increasingly complex global marketplace. And Bruce’s extensive public and private sector experience, including several key leadership roles for the US marine and large corporations, will serve to strengthen our corporate governance and governance efforts.”

With these appointments, Vista Outdoor’s Board of Directors consists of 11 members, including 18 percent women and 18 percent diversity across 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 athletic and outdoor products. We serve a wide and diverse range of consumers around the world, including outdoor enthusiasts, golfers, cyclists, barbecue grills, campers, hunters, recreational shooters, athletes, and law enforcement and military professionals. Our Outdoor Products and Sporting Products reporting segments provide these consumers with a wide range of performance-oriented, 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 unattainable for a single brand. 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 Europe North America and worldwide. Visit our website at www.vistaoutdoor.com for news and information.

Forward-Looking Statements

Some of the statements and information made in this report, other than historical information, are “forward-looking statements,” including those that discuss, among other things: our plans, goals, expectations, intentions, strategies, objectives, outlook or other non-historical matters ; forecasts regarding future sales, income, earnings per share or other financial measures for Vista Outdoor; and the assumptions underlying those matters. 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 conform to the safe harbor for forward-looking information of the Private Securities Litigation Reform Act of 1995. Numerous risks, uncertainties and other factors could cause our actual results to differ materially from those anticipated in such forward-looking statements, including the following: supplier capacity limitations, production or shipment disruptions, or quality or pricing issues affecting our operating expenses; supply, availability and cost of raw materials and components; increases in raw material, energy and production costs; seasonality and weather conditions; our ability to complete acquisitions, realize anticipated benefits from acquisitions and integrate acquired businesses; decreases or unexpected changes or our inability to accurately predict demand for ammunition, accessories or other outdoor sports and recreation products; service interruption or significant increase in the cost of our primary delivery and shipping services for our products and components, or significant disruption at shipping ports; risks related to diversification into new international and commercial markets, including regulatory compliance; our ability to capture growth opportunities in international and commercial markets; our ability to acquire and maintain licenses for third-party technologies; our ability to attract and retain key personnel; disruptions from catastrophic events; risks associated with our sales to major retail customers, including unexpected cancellations, delays and other changes to 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 changing consumer preferences from brick-and-mortar to online retail; our ability to maintain and improve brand awareness and reputation; the use of social media by others to post negative comments about us, our products and boycotts; the outcome of contingencies, including those relating 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 B. Federal and State ammunition regulations; risks related to cyber security and other industrial and physical security threats; interest rate risk; changes in current fare structures; changes in tax regulations or pronouncements; capital market volatility and the availability of financing; foreign currency exchange rates and fluctuations in such rates; general economic and business conditions in The United States and our markets outside The United Statesincluding the war in Ukraine and the imposition of sanctions Russia, conditions affecting employment levels, consumer confidence and spending, retail environment conditions and other economic conditions affecting demand for our products and the financial health of our customers; and risks related to our proposed 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 may affect our results of operations can be found in Part 1, Item 1A, Risk Factors, our Annual Report on Form 10-K for fiscal year 2022 and our filings with the Securities and Exchange Commission ( the “SEC”) from time to time. We assume no obligation to update any forward-looking statement, except as required by law.

SOURCE Vista Outdoor Inc.