Columbia Sportswear Company Announces Resignation of Franco Fogliato, Executive Vice President, Global Omni-Channel

Rhea-AI Summary

Columbia Sportswear Company (Nasdaq: COLM) announces the resignation of Franco Fogliato, Executive VP of Global Omni-Channel, effective September 3, 2021. Tim Boyle, CEO, acknowledges Fogliato's significant contributions, noting his role in achieving $3 billion in net sales in 2019 and his deep understanding of market dynamics, which has been vital to the company's recent success. Columbia, founded in 1938, leads in outdoor and active apparel across approximately 90 countries with brands including Columbia, Mountain Hard Wear, SOREL, and prAna.

Positive

• Franco Fogliato's contributions significantly boosted Columbia's net sales, reaching $3 billion in 2019.
• Tim Boyle's acknowledgment highlights a strong leadership foundation.

Negative

• The resignation may create a gap in leadership continuity and strategic direction.

Columbia Sportswear Company (Nasdaq: COLM, “Columbia,” the “Company”), a leading innovator in active outdoor apparel, footwear, accessories and equipment industries, today announced Franco Fogliato, Executive Vice President, Global Omni-Channel, has notified the Company of his intent to resign from his position, effective after a brief transition period ending September 3, 2021.

Timothy Boyle, Columbia Sportswear Company’s Chief Executive Officer stated, “During his tenure at Columbia, Franco helped power growth in the Columbia brand, bringing us to a record of $3 billion in net sales in 2019. His understanding of markets and the dynamic nature of how our consumers are interacting with our products has been key to the success of the company in recent years. He has been a guiding force for our company, and he will be missed.”

About Columbia Sportswear Company

Columbia Sportswear Company connects active people with their passions through its portfolio of well-known brands, making it a global leader in outdoor, active and everyday lifestyle apparel, footwear, accessories, and equipment products. Founded in 1938 in Portland, Oregon, the Company’s brands are sold in approximately 90 countries. In addition to the Columbia® brand, Columbia Sportswear Company also owns the Mountain Hard Wear®, SOREL® and prAna® brands. To learn more, please visit the Company’s websites at www.columbia.com, www.mountainhardwear.com, www.sorel.com, and www.prana.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210805006232/en/

FAQ

What is the reason for Franco Fogliato's resignation from Columbia Sportswear?

Franco Fogliato has notified Columbia Sportswear of his intent to resign, with the transition period ending September 3, 2021.

Who will replace Franco Fogliato at Columbia Sportswear?

The press release does not specify a replacement for Franco Fogliato.

How did Franco Fogliato contribute to Columbia Sportswear's success?

Franco Fogliato was instrumental in driving the Columbia brand to record net sales of $3 billion in 2019.

What impacts could Franco Fogliato's resignation have on Columbia Sportswear?

His resignation could create a leadership gap and potential challenges in maintaining strategic focus.