EVANSVILLE, Ind., Feb. 6, 2025
/PRNewswire/ -- Escalade, Inc. (NASDAQ: ESCA) announced today the
appointment of Armin Boehm as Chief
Executive Officer and President following an extensive search
process as part of a planned succession. Boehm will succeed
Walter P. Glazer, Jr., who in
August 2024 announced his plans to
retire as CEO and President. Boehm will begin as Escalade CEO and
President on April 1, 2025.
Regarding Mr. Boehm's appointment, Mr. Glazer said "Armin is a
visionary leader with a deep understanding of the sporting goods
industry. His extensive global experience, combined with his
collaborative and dynamic approach, makes him the ideal CEO to
guide Escalade into its next chapter of growth and innovation,"
said Glazer. "His strategic mindset, respect for our company's
heritage, and passion for delivering exceptional consumer
experiences position him well for success. I look forward to
supporting Armin as he takes on this new leadership role while I
continue to serve our shareholders as Chairman of the Board of
Directors."
Boehm shared his enthusiasm about joining Escalade and leading
the company's continued evolution. "I am honored to lead Escalade,
a company with a remarkable century-long history and a portfolio of
beloved brands. As we look ahead, we will build upon our strong
foundation, embrace innovation, and enhance our consumer-centric
approach to create products that bring people together," said
Boehm. "I look forward to working with the exceptional teams at
Escalade to drive sustainable growth and superior total shareholder
returns while shaping the future of the sporting goods
industry."
Ned Williams, Lead Independent
Director, praised Glazer's leadership, saying, "On behalf of
everyone at Escalade, I want to express our deepest gratitude for
Walt's leadership and unwavering dedication as President and CEO.
Walt's commitment and outstanding leadership guided Escalade
through a critical period and set us up for further success in the
years ahead. We are extremely grateful for Walt's contributions and
look forward to building upon those with Armin as our next
President and CEO."
Boehm brings over three decades of leadership experience across
premier global brands and three continents. Most recently, he
served as Chief Commercial Officer and a member of the Global
Leadership Team at Gibson Inc. in Nashville, Tennessee, where he played a
pivotal role in driving growth for the company's renowned musical
instrument and sound solutions portfolio, including Gibson, Epiphone, and Kramer. Prior to
Gibson, Boehm held key leadership
roles in the sporting goods industry. At Amer Sports, he led
commercial and marketing operations across the Americas for brands
such as Salomon, Arc'teryx, Atomic, Suunto, and Wilson. While based
in Hong Kong and Shanghai for
Puma, he drove sales, merchandising, and product creation while
spearheading direct-to-consumer growth and establishing Puma China.
Before his tenure in Asia, Boehm
successfully led global product management and
merchandising across the apparel division at Puma's
international headquarters in Germany during a period of
dramatic growth. He also previously led innovation initiatives
at Levi Strauss and began his career as an R&D and
product innovation manager at Adidas' international
headquarters in Herzogenaurach, Germany.
Boehm holds a Master's Degree in Business Administration from FH
Ludwigshafen, Germany, and a
Diploma in Engineering from FH Coburg, Germany. Outside of work, he enjoys traveling,
music, and spending time in the great outdoors with his wife and
two children.
ABOUT ESCALADE
Founded in 1922, and headquartered in Evansville, Indiana, Escalade designs,
manufactures, and sells sporting goods, fitness, and indoor/outdoor
recreation equipment. Our mission is to connect family and friends
creating lasting memories. Leaders in our respective categories,
Escalade's brands include Brunswick Billiards®; STIGA® table
tennis; Accudart®; RAVE Sports® water recreation; Onix® pickleball;
Goalrilla™ basketball; Lifeline® fitness; Woodplay® playsets; and
Bear® Archery. Escalade's products are available online and at
leading retailers nationwide. For more information about Escalade's
many brands, history, financials, and governance please
visit www.escaladeinc.com.
INVESTOR RELATIONS CONTACT
Patrick Griffin
Vice President - Corporate Development & Investor Relations
812-467-1358
FORWARD-LOOKING STATEMENTS
This report contains forward-looking statements relating to
present or future trends or factors that are subject to risks and
uncertainties. These risks include, but are not limited to:
Escalade's ability to achieve its business objectives; Escalade's
ability to successfully achieve the anticipated results of
strategic transactions, including the integration of the operations
of acquired assets and businesses and of divestitures or
discontinuances of certain operations, assets, brands, and
products; the continuation and development of key customer,
supplier, licensing and other business relationships; Escalade's
ability to develop and implement our own direct to consumer
e-commerce distribution channel; the impact of competitive products
and pricing; product demand and market acceptance; new product
development; Escalade's ability to successfully negotiate the
shifting retail environment and changes in consumer buying habits;
the financial health of our customers; disruptions or delays in our
business operations, including without limitation disruptions or
delays in our supply chain, arising from political unrest, war,
terrorism, labor strikes, natural disasters, public health crises
such as the coronavirus pandemic, and other events and
circumstances beyond our control; the impact of management's
conclusion, in consultation with the Audit Committee, that material
weaknesses existed in the Company's internal control procedures
over financial reporting; the evaluation and implementation of
remediation efforts designed and implemented to enhance the
Company's control environment, which remediation efforts are
ongoing; the potential identification of one or more additional
material weaknesses in the Company's internal control of which the
Company is not currently aware or that have not yet been detected;
the Company's inability or failure to fully remediate material
weaknesses in our internal control procedures over financial
reporting or any other material weaknesses in the future could
result in material misstatements in our financial statements;
Escalade's ability to control costs, including managing inventory
levels; Escalade's ability to successfully implement actions to
lessen the potential impacts of tariffs and other trade
restrictions applicable to our products and raw materials,
including impacts on the costs of producing our goods, importing
products and materials into our markets for sale, and on the
pricing of our products; general economic conditions, including
inflationary pressures; fluctuation in operating results; changes
in foreign currency exchange rates; changes in the securities
markets; continued listing of the Company's common stock on the
NASDAQ Global Market; the Company's inclusion or exclusion from
certain market indices; Escalade's ability to obtain financing, to
maintain compliance with the terms of such financing and to manage
debt levels; the availability, integration and effective operation
of information systems and other technology, and the potential
interruption of such systems or technology; the potential impact of
actual or perceived defects in, or safety of, our products,
including any impact of product recalls or legal or regulatory
claims, proceedings or investigations involving our products; risks
related to data security or privacy breaches; the potential impact
of regulatory claims, proceedings or investigations involving our
products; potential residual impacts of the COVID-19 global
pandemic on Escalade's financial condition and results of
operations; and other risks detailed from time to time in
Escalade's filings with the Securities and Exchange Commission.
Escalade's future financial performance could differ materially
from the expectations of management contained herein. Escalade
undertakes no obligation to release revisions to these
forward-looking statements after the date of this report.
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SOURCE Escalade, Incorporated
