Arctic Cat Hires Christopher T. Metz as Chief Executive Officer
November 14 2014 - 06:30AM
Business Wire
Metz succeeds CEO Christopher Twomey, who
remains board chair
Arctic Cat Inc. (NASDAQ: ACAT) today announced that Christopher
T. Metz, 49, will join the company as president and chief executive
officer on December 3, 2014. Metz succeeds Christopher Twomey, who
remains Arctic Cat’s board chair.
Christopher Metz (Photo: Business
Wire)
Commented Twomey: “The board conducted a national search for a
new CEO and we are delighted that Chris is joining Arctic Cat.
Chris is a proven leader in the consumer and durable goods
industries. He has built a career on improving the performance of
market-leading companies. He brings an outstanding strategic skill
set to his new role at Arctic Cat – a keen focus on executional
excellence and deep experience in product marketing, finance,
global operations and talent management. Importantly, he is adept
at creating strong partnerships with customers and dealers. Along
with the rest of the board, I am pleased to welcome Chris and look
forward to working with him.”
Since 2005, Metz has served as a managing director of Sun
Capital Partners, Inc., a leading private investment firm with more
than $10 billion in capital under management. Prior to Sun Capital,
Metz was president at Black & Decker, leading its Hardware and
Home Improvement Group from 1999 to 2005. During his 13-year tenure
at Black & Decker, he held various other senior leadership
positions, including: president of Kwikset Corporation, the world’s
largest residential lockset manufacturer; president of Price
Pfister, a leading manufacturer of finish faucets; president of
Baldwin Hardware; and general manager of European Professional
Power Tools and Accessories, based in Frankfurt, Germany.
Metz said: “I am excited to lead a terrific team at Arctic Cat.
The company has a strong consumer brand and significant
opportunities to increase its sales and profitability. I am eager
to build on the company’s success and enhance shareholder
value.”
Metz serves on the board of directors of NYSE-listed Vince
Holdings Corp., a global fashion brand and retailer with
approximately $300 million in annual revenue.
Metz earned a master of business administration degree from the
Kenan Flagler School of Business of the University of North
Carolina, Chapel Hill. He holds a bachelor’s degree in finance and
marketing from the University of Delaware.
About Arctic CatArctic Cat
Inc. designs, engineers, manufactures and markets all-terrain
vehicles (ATVs), side-by-sides and snowmobiles under the Arctic
Cat® brand name, as well as related parts, garments and
accessories. Its common stock is traded on the NASDAQ Global Select
Market under the ticker symbol “ACAT.” More information about
Arctic Cat and its products is available at www.arcticcat.com.
Forward-Looking
StatementsThe Private Securities Litigation Reform Act
of 1995 provides a safe harbor for certain forward-looking
statements. The Company’s Annual Report, as well as the Report on
Form 10-K, its Quarterly Reports on Form 10-Q and other filings
with the Securities and Exchange Commission, the Company’s press
releases and oral statements made with the approval of an
authorized executive officer, contain forward-looking statements
that reflect the Company’s current views with respect to future
events and financial performance. These forward-looking statements
are subject to certain risks and uncertainties that could cause
actual results to differ materially from historical results or
those anticipated. The words “aim,” “believe,” “expect,”
“anticipate,” “intend,” “estimate” and other expressions that
indicate future events and trends identify forward-looking
statements including statements related to our fiscal 2015 outlook,
business strategy and growth prospects. Actual future results and
trends may differ materially from historical results or those
anticipated depending on a variety of factors, including, but not
limited to: product mix and volume; competitive pressure on sales,
pricing and sales incentives; increase in material or production
cost which cannot be recouped in product pricing; unexpected delays
in the introduction of new products; changes in the sourcing of
engines; interruption of dealer floorplan financing; warranty
expenses and product recalls; foreign currency exchange rate
fluctuations; product liability claims and other legal proceedings
in excess of reserves or insured amounts; environmental and product
safety regulatory activity; effects of the weather; general
economic conditions and political changes; interest rate changes;
consumer demand and confidence; and those set forth in the
Company’s Annual Report on Form 10-K for the year ended March 31,
2014, under heading “Item 1A. Risk Factors.” The Company does not
undertake any obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise.
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Arctic Cat Inc.Tim Delmore, 763-354-1791Chief Financial
OfficerorPadillaCRTShawn Brumbaugh,
612-455-1754shawn.brumbaugh@padillacrt.com
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