Camping World Announces Succession Plans

Rhea-AI Summary

Camping World Holdings (NYSE: CWH), the top recreational vehicle dealer globally, has announced key leadership changes. President Brent Moody will retire on December 31, 2024, resigning effective July 1, 2024, and CFO Karin Bell will retire upon filing the company’s Form 10-K for 2024, with her resignation effective July 1, 2024. Matthew Wagner will succeed Moody as President and continue as the principal operating officer, while Tom Kirn will replace Bell as CFO, continuing as the principal accounting officer. CEO Marcus Lemonis highlighted their important roles in the company's growth and future mentoring capacities. Both Moody and Bell expressed confidence in their successors' abilities to drive future growth.

Positive

• Smooth succession planning with new leadership already identified.
• Matthew Wagner and Tom Kirn have extensive experience within the company.
• Continued advisory roles for outgoing President and CFO ensure a seamless transition.
• CEO Marcus Lemonis' confidence in the new leaders indicates stability.

Negative

• Potential investor concerns about leadership changes and their impact on company strategy.
• Departure of long-standing executives could create uncertainty.
• Transition period might temporarily affect operational continuity.

LINCOLNSHIRE, Ill.--(BUSINESS WIRE)-- Camping World Holdings, Inc. (NYSE: CWH) (“Camping World”), the world’s largest recreational vehicle dealer, announced that the Company’s President, Brent Moody, plans to retire on December 31, 2024, with his resignation as President effective July 1, 2024. The Company also announced its Chief Financial Officer, Karin Bell, plans to retire upon the filing of the Company’s Form 10-K for the year ended December 31, 2024, with her resignation as Chief Financial Officer effective July 1, 2024. In connection with Mr. Moody’s resignation, Matthew Wagner will be appointed President, and will continue to serve as the Company’s principal operating officer. In connection with Ms. Bell’s resignation, Tom Kirn will be appointed Chief Financial Officer, and will continue to serve as the Company’s principal accounting officer.

Marcus Lemonis, Chairman and CEO of Camping World remarked, “Brent, Karin and I have been together since the beginning, helping both formulate and lead our company. With over 40 years of combined service, their commitment to the company is undeniable as Camping World would not be what it is today without them. Brent and Karin will continue to mentor the next generation of leaders in our company for years to come, with Brent continuing his role on our Board of Directors, while Karin will continue to serve in an advisory role for both myself and the senior management team.”

“I am very grateful to have spent over 20 years helping to grow the business,” said Mr. Moody. “I am confident in Matt’s demonstrated ability to lead and innovate across our company, I look forward to a smooth transition and am excited for the organization’s future growth.”

“My 20 plus years here have been the highlight of my career, together with our talented team members we have made Camping World a stronger and more agile organization,” said Ms. Bell. “I am proud of our accomplishments and am confident that Tom has the right skillset, commitment to financial discipline, and deep knowledge of both Camping World and our industry, to help guide us into our next chapter of growth."

Mr. Lemonis concluded, “Today’s announcement is the culmination of several years of leadership succession planning and well-deserved career advancement for both Matt and Tom as we head into the next decade of growth for the company.”

Individuals interested in applying for a position with Camping World may visit http://www.campingworldjobs.com/.

About Camping World Holdings, Inc.

Camping World Holdings, Inc., headquartered in Lincolnshire, IL, (together with its subsidiaries) is the world’s largest retailer of RVs and related products and services. Our vision is to build a long-term legacy business that makes RVing fun and easy. Our Camping World and Good Sam brands have been serving RV consumers since 1966. We strive to build long-term value for our customers, employees, and shareholders by combining a unique and comprehensive assortment of RV products and services with a national network of RV dealerships, service centers and customer support centers along with the industry’s most extensive online presence and a highly trained and knowledgeable team of employees serving our customers, the RV lifestyle, and the communities in which we operate. We also believe that our Good Sam organization and family of programs and services uniquely enable us to connect with our customers as stewards of the RV enthusiast community and the RV lifestyle. With RV sales and service locations in 43 states, Camping World has grown to become the prime destination for everything RV. For more information, visit www.CampingWorld.com.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 concerning Camping World and other matters. All statements other than statements of historical facts contained in this press release may be forward-looking statements including statements about anticipated leadership transitions, our business plans and future growth. In some cases, you can identify forward-looking statements by terms such as ‘‘may,’’ ‘‘will,’’ ‘‘should,’’ ‘‘expects,’’ ‘‘plans,’’ ‘‘anticipates,’’ ‘‘could,’’ ‘‘intends,’’ ‘‘targets,’’ ‘‘projects,’’ ‘‘contemplates,’’ ‘‘believes,’’ ‘‘estimates,’’ ‘‘predicts,’’ ‘‘potential’’ or ‘‘continue’’ or the negative of these terms or other similar expressions. The forward-looking statements in this press release are only predictions. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition, and results of operations. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. You should carefully consider the risks and uncertainties that affect our business, as well as the other important risks described in our filings with the Securities and Exchange Commission (“SEC”), including under the caption “Risk Factors” in our Annual Report on Form 10-K filed for the year ended December 31, 2023. These forward-looking statements speak only as of the date of this communication. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements, whether as a result of any new information, future events or otherwise. You are advised, however, to consult any further disclosures we make on related subjects in our public announcements and filings with the SEC.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240603109577/en/

Brett Andress

InvestorRelations@campingworld.com

Media Outlets:

PR-CWGS@CampingWorld.com

Source: Camping World

FAQ

When is Brent Moody retiring from Camping World?

Brent Moody plans to retire on December 31, 2024, with his resignation as President effective July 1, 2024.

When will Karin Bell resign as CFO of Camping World?

Karin Bell will resign as CFO effective July 1, 2024, upon the filing of the company’s Form 10-K for 2024.

Who will succeed Brent Moody as President of Camping World?

Matthew Wagner will be appointed President, succeeding Brent Moody.

Who is the new CFO of Camping World?

Tom Kirn will be appointed as the Chief Financial Officer, succeeding Karin Bell.

What roles will Brent Moody and Karin Bell have post-resignation?

Brent Moody will continue on the Board of Directors, and Karin Bell will serve as an advisor to senior management.