GoPro Names Golden State Warriors President Rick Welts to BoardBy
GoPro Inc. named Golden State Warriors President Rick Welts to its board, seeking to draw on his marketing and management experience as it replaces two directors who left recently.
Welts also serves as chief operating officer of the National Basketball Association champion team based in Oakland, California. He has been in operational roles for the NBA and several of its professional basketball teams for more than 40 years, GoPro said in announcing the appointment. He is leading the Warriors’ development of a new, privately financed, $1.8 billion arena and office complex on the San Francisco waterfront.
“Rick Welts’ leadership, creativity, and passion have made him one of the most respected individuals in the NBA,” GoPro Chief Executive Officer Nick Woodman said in the statement. “Not only does he have a record of building championship teams, he’s also an extraordinarily talented business, operating, and marketing executive.”
Welts joins GoPro at a time of transition at the San Mateo, California-based company. The hardware maker is recovering after a series of production delays and disappointing earnings that prompted the company to cut hundreds of jobs and eliminate an entertainment division. The company has since stemmed losses and is focused on making its devices easier to use.
The Warriors were one of the first pilot partners to try the GoPro Fusion, its first spherical device for virtual-reality video. Welts will be GoPro’s eighth board member. Michael Marks, managing partner of Riverwood Capital LLC, and Ned Gilhuly, managing partner of Sageview Capital LLC, retired from the board.