Clarus Appoints James Walker III to its Board of Directors

Rhea-AI Summary

Clarus Corporation (NASDAQ: CLAR) has appointed James Walker III to its board of directors, effective February 1, 2022. Walker brings over 30 years of investment and asset management experience, including roles at Vinson Ventures, Fir Tree Partners, and Black Diamond Capital Management. His background in risk management and investment strategies is expected to bolster Clarus' growth initiatives. Walker expressed commitment to enhancing shareholder value and expanding the company’s brand portfolio, while emphasizing his connection as a user of Clarus' outdoor products.

Positive

• James Walker III's extensive experience in investment and asset management may provide strategic advantages for Clarus.
• Walker is expected to contribute valuable insights into risk management, potentially enhancing company performance.
• His commitment as a user of Clarus products may help in aligning product development with consumer needs.

Negative

• Concerns may arise regarding the continuity of board expertise during Walker's transition into the role.
• Potential experience gaps in outdoor-specific operations could affect decision-making initially.

SALT LAKE CITY, Feb. 01, 2022 (GLOBE NEWSWIRE) -- Clarus Corporation (NASDAQ: CLAR) (“Clarus” and/or the “Company”), a global company focused on the outdoor and consumer enthusiast markets, announced the appointment of James Walker III to its board of directors.

Walker has over 30 years of experience in investing and asset management across multiple firms and industries. He currently serves as managing partner and founder of Vinson Ventures, LLC, a boutique investment firm where he focuses on building early-stage companies by actively working with founders and management. Walker was previously managing partner of Fir Tree Partners, a top 50 global alternative asset management firm, where he was a member of its real estate investment committee and chairman of the firm’s risk committee. Prior to Fir Tree Partners, Walker co-founded Black Diamond Capital Management where he served as managing partner. He began his career in investment banking at Kidder, Peabody & Co. and Bear Stearns.

Walker currently sits on the board of Starwood Real Estate Income Trust, a publicly registered REIT, where he is the lead independent director. Walker is also a strategic partner at Jadian Capital, a real estate private equity investment firm and a board member of Team USA, the foundation for the US Olympic Committee.

Walker received a B.S. in Economics from Boston College’s School of Management in 1984.

“Walker’s investing and operating experience spans many industries, including health and wellness, always focusing on overall markets and risk management, which will be a tremendous asset to Clarus,” said Clarus’ Executive Chairman Warren Kanders. “As we seek to continue to scale Clarus and execute on our growth initiatives, we are looking forward to incorporating Walker’s strategic thinking and global market expertise.”

Walker commented, “I am honored to be appointed to Clarus’ board of directors. As a mountaineer and avid user of Clarus’ brands, I am keenly aware of the Company’s leadership and ‘super-fan’ positioning in the outdoor markets it serves. I look forward to working with the board to continue to grow the brand portfolio to new levels, while focusing on maximizing shareholder value.”

About Clarus Corporation
Headquartered in Salt Lake City, Utah, Clarus Corporation is a global leading designer, developer, manufacturer and distributor of best-in-class outdoor equipment and lifestyle products focused on the outdoor and consumer enthusiast markets. Our mission is to identify, acquire and grow outdoor “super fan” brands through our unique “innovate and accelerate” strategy. We define a “super fan” brand as a brand that creates the world’s pre-eminent, performance-defining product that the best-in-class user cannot live without. Each of our brands has a long history of continuous product innovation for core and everyday users alike. The Company’s products are principally sold globally under the Black Diamond®, Rhino-Rack®, MAXTRAX®, Sierra®, and Barnes® brand names through outdoor specialty and online retailers, our own websites, distributors and original equipment manufacturers. Our portfolio of iconic brands is well-positioned for sustainable, long-term growth underpinned by powerful industry trends across the outdoor and adventure sport end markets. For additional information, please visit www.claruscorp.com or the brand websites at www.blackdiamondequipment.com, www.rhinorack.com, www.maxtrax.com.au, www.sierrabullets.com, www.barnesbullets.com, www.pieps.com, or www.goclimbon.com.

Forward-Looking Statements
Please note that in this press release we may use words such as “appears,” “anticipates,” “believes,” “plans,” “expects,” “intends,” “future,” and similar expressions which constitute forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are made based on our expectations and beliefs concerning future events impacting the Company and therefore involve a number of risks and uncertainties. We caution that forward-looking statements are not guarantees and that actual results could differ materially from those expressed or implied in the forward-looking statements. Potential risks and uncertainties that could cause the actual results of operations or financial condition of the Company to differ materially from those expressed or implied by forward-looking statements in this release, include, but are not limited to, those risks and uncertainties more fully described from time to time in the Company's public reports filed with the Securities and Exchange Commission, including under the section titled “Risk Factors” in the Company's Annual Report on Form 10-K, and/or Quarterly Reports on Form 10-Q, as well as in the Company’s Current Reports on Form 8-K. All forward-looking statements included in this press release are based upon information available to the Company as of the date of this press release and speak only as of the date hereof. We assume no obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release.

Company Contacts:
John C. Walbrecht
President
Tel 1‐801‐993‐1344
john.walbrecht@claruscorp.com

Aaron J. Kuehne
Executive Vice President and Chief Operating Officer
Tel 1‐801‐993‐1364
aaron.kuehne@claruscorp.com

Michael J. Yates
Chief Financial Officer
Tel 1‐801-993‐1304
mike.yates@claruscorp.com

Investor Relations Contact:
Gateway Investor Relations
Cody Slach
Tel 1‐949‐574‐3860
CLAR@gatewayir.com

FAQ

What are the qualifications of James Walker III, the new board member of Clarus (CLAR)?

James Walker III has over 30 years of experience in investing and asset management, having held key positions at firms like Vinson Ventures and Fir Tree Partners.

When was James Walker III appointed to the board of directors of Clarus (CLAR)?

James Walker III was appointed to the board of directors of Clarus Corporation on February 1, 2022.

What impact might James Walker III's appointment have on Clarus (CLAR)?

Walker’s extensive investment background is expected to enhance Clarus's growth strategy and shareholder value.

How does James Walker III's experience relate to Clarus's business focus?

Walker’s experience in asset management and risk could help Clarus navigate market challenges and grow its outdoor lifestyle brand portfolio.