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July 03, 2015 12:41 PM ET

Aerospace and Defense

Company Overview of Remington Outdoor Company, Inc.

Company Overview

Remington Outdoor Company, Inc. designs, manufactures, and markets firearms, ammunition, and related products for the hunting, shooting sports, law enforcement, and military end-markets primarily in the United States and Canada. The company operates through two segments, Firearms and Ammunition. The Firearms segment designs, manufactures, imports, and markets various sporting shotguns, rifles, handguns, modular firearms, and airguns under the Harrington & Richardson, Parker Gun, Dakota, Remington, Bushmaster, DPMS, Marlin, Para USA, Barnes Bullets, and Nesika brands. The Ammunition segment designs, manufactures, and markets sporting ammunition and ammunition reloading components. This segmen...

870 Remington Drive

PO Box 1776

Madison, NC 27025

United States

Founded in 1816

3,200 Employees

Phone:

336-548-8700

Key Executives for Remington Outdoor Company, Inc.

Interim Chairman, Chief Executive Officer, President, Member of Executive Committee and Member of Governance & Nominating Committee
Age: 55
Chief Financial Officer and Director
Age: 55
Senior Vice President of New Product Development and Innovation
Vice President of Corporate Finance & Planning and Treasurer
Chief Information Officer
Age: 55
Compensation as of Fiscal Year 2015.

Remington Outdoor Company, Inc. Key Developments

Remington Outdoor Company Announces Management Changes

Remington Outdoor Company announced a series of management and Board-level transitions that will accelerate an ongoing transformation at the company as it seeks to optimize operations and reset the foundational processes needed to deliver consistently superior quality across all products and services. Effective immediately, ROC co-lead Director Jim Marcotuli has been appointed President and Chief Executive Officer, and Board member James P. Campbell has been appointed Vice Chairman of the Board. Mr. Marcotuli will also serve as interim Chairman of the Board. George Kollitides II, Chairman and CEO, and the Company have agreed that Mr. Kollitides will step down from both positions immediately to pursue other interests but will continue to serve as a paid Senior Advisor to the company for one year. Additionally, ROC's Chief Financial Officer Ron Kolka is retiring but will remain with the Company for the next 30 days to ensure a smooth transition. ROC also announced that Jeffrey P. Pritchett will join ROC's Board of Directors as part of the Company's broader efforts to build a Board infused with independent talent and the industry, financial and operating experience needed to support ROC's strategic direction. Mr. Pritchett will also work with Mr. Kolka through the CFO transition period. The company has also initiated a search for a Chairman of the Board and may appoint additional Directors to replace Walter McLallen and James J. Pike, who have also decided to retire from the Board. Mr. Pritchett brings significant financial and strategic planning expertise to the Board, most recently as a Senior Operating Executive and Head of the Finance/CFO practice within Cerberus Operating and Advisory Company. He has been advising the management and finance teams at ROC for the past few months, providing a smooth transition as the Company completes its search for a permanent CFO.

Remington Outdoor Company, Inc., Q1 2015 Earnings Call, Jun 03, 2015

Remington Outdoor Company, Inc., Q1 2015 Earnings Call, Jun 03, 2015

Cerberus Unable to Sell Remington

Cerberus Capital Management, L.P., having failed so far to find a buyer, essentially will let investors sell their stakes in Remington Outdoor Company, Inc., and move out of its funds and into a special financial vehicle. Cerberus Capital said that it would take Remington out of its main private equity funds and put it into a separate financial entity. Cerberus will then let its investors sell their individual stakes. Investors have 30 days to decide if they want to take up the offer, though many are expected to do so. A spokesman for Cerberus declined to comment.

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