Duluth Holdings Inc. Announces Retirement of CEO Samuel M. Sato
Duluth Trading Company (NASDAQ: DLTH) announced that President and CEO Samuel M. Sato will retire effective April 25, 2025. Company founder and Chairman of the Board Stephen L. Schlecht will assume the role of Interim CEO upon Sato's departure.
The Board of Directors has initiated a search for a new CEO, with Schlecht taking over day-to-day leadership during the transition period. Sato will also step down from his position as Board member. Schlecht will serve as Interim CEO starting April 25, 2025, unless a permanent replacement is found before that date.
Sato expressed pride in the company's accomplishments during his tenure, particularly in advancing strategic initiatives and strengthening omni-channel capabilities. Schlecht, as founder, emphasized his commitment to ensuring business continuity and maintaining the company's strategic vision during the transition.
Duluth Trading Company (NASDAQ: DLTH) ha annunciato che il Presidente e CEO Samuel M. Sato si ritirerà con effetto dal 25 aprile 2025. Il fondatore dell'azienda e Presidente del Consiglio di Amministrazione Stephen L. Schlecht assumerà il ruolo di CEO ad interim al momento della partenza di Sato.
Il Consiglio di Amministrazione ha avviato una ricerca per un nuovo CEO, con Schlecht che prenderà in carico la leadership quotidiana durante il periodo di transizione. Sato si dimetterà anche dalla sua posizione di membro del Consiglio. Schlecht ricoprirà il ruolo di CEO ad interim a partire dal 25 aprile 2025, a meno che non venga trovato un sostituto permanente prima di quella data.
Sato ha espresso orgoglio per i risultati dell'azienda durante il suo mandato, in particolare per i progressi nelle iniziative strategiche e nel rafforzamento delle capacità omni-channel. Schlecht, in qualità di fondatore, ha sottolineato il suo impegno a garantire la continuità aziendale e a mantenere la visione strategica dell'azienda durante la transizione.
Duluth Trading Company (NASDAQ: DLTH) anunció que el Presidente y CEO Samuel M. Sato se retirará a partir del 25 de abril de 2025. El fundador de la compañía y Presidente de la Junta Stephen L. Schlecht asumirá el cargo de CEO interino tras la salida de Sato.
La Junta Directiva ha iniciado una búsqueda para un nuevo CEO, con Schlecht asumiendo el liderazgo diario durante el período de transición. Sato también dejará su puesto como miembro de la Junta. Schlecht servirá como CEO interino a partir del 25 de abril de 2025, a menos que se encuentre un reemplazo permanente antes de esa fecha.
Sato expresó su orgullo por los logros de la compañía durante su mandato, especialmente en el avance de iniciativas estratégicas y en el fortalecimiento de las capacidades omnicanal. Schlecht, como fundador, enfatizó su compromiso de garantizar la continuidad del negocio y mantener la visión estratégica de la compañía durante la transición.
둘루스 트레이딩 컴퍼니 (NASDAQ: DLTH)는 사장 겸 CEO인 사무엘 M. 사토가 2025년 4월 25일부로 은퇴할 것이라고 발표했습니다. 회사의 창립자이자 이사회 의장인 스티븐 L. 슐레흐트가 사토의 퇴임 후 임시 CEO 역할을 맡게 됩니다.
이사회는 새로운 CEO를 찾기 위한 검색을 시작했으며, 슐레흐트는 전환 기간 동안 일상적인 리더십을 담당하게 됩니다. 사토는 이사회 멤버로서의 직위에서도 물러날 것입니다. 슐레흐트는 2025년 4월 25일부터 임시 CEO로 활동하며, 그 날짜 이전에 영구적인 대체자가 발견되지 않는 한 계속해서 그 역할을 수행할 것입니다.
사토는 자신의 임기 동안 회사의 성과에 대해 자부심을 표현했으며, 특히 전략적 이니셔티브를 발전시키고 옴니채널 역량을 강화한 점을 강조했습니다. 창립자로서 슐레흐트는 전환 기간 동안 사업의 연속성을 보장하고 회사의 전략적 비전을 유지하겠다는 의지를 강조했습니다.
Duluth Trading Company (NASDAQ: DLTH) a annoncé que le Président et CEO Samuel M. Sato prendra sa retraite à compter du 25 avril 2025. Le fondateur de l'entreprise et Président du Conseil d'Administration Stephen L. Schlecht assumera le rôle de CEO par intérim lors du départ de Sato.
Le Conseil d'Administration a lancé une recherche pour un nouveau CEO, Schlecht prenant en charge la direction quotidienne pendant la période de transition. Sato démissionnera également de son poste de membre du Conseil. Schlecht exercera la fonction de CEO par intérim à partir du 25 avril 2025, sauf si un remplaçant permanent est trouvé avant cette date.
Sato a exprimé sa fierté pour les réalisations de l'entreprise durant son mandat, en particulier pour les avancées dans les initiatives stratégiques et le renforcement des capacités omnicanales. Schlecht, en tant que fondateur, a souligné son engagement à garantir la continuité des affaires et à maintenir la vision stratégique de l'entreprise durant la transition.
Duluth Trading Company (NASDAQ: DLTH) gab bekannt, dass Präsident und CEO Samuel M. Sato am 25. April 2025 in den Ruhestand treten wird. Der Unternehmensgründer und Vorsitzende des Vorstands Stephen L. Schlecht wird nach Satos Ausscheiden die Rolle des Interims-CEOs übernehmen.
Der Vorstand hat eine Suche nach einem neuen CEO eingeleitet, wobei Schlecht während der Übergangszeit die tägliche Führung übernehmen wird. Sato wird auch von seiner Position als Vorstandsmitglied zurücktreten. Schlecht wird ab dem 25. April 2025 als Interims-CEO fungieren, es sei denn, ein permanenter Nachfolger wird vorher gefunden.
Sato äußerte Stolz auf die Errungenschaften des Unternehmens während seiner Amtszeit, insbesondere auf die Fortschritte bei strategischen Initiativen und die Stärkung der Omni-Channel-Fähigkeiten. Schlecht betonte als Gründer sein Engagement, die Geschäftskontinuität zu gewährleisten und die strategische Vision des Unternehmens während der Übergangsphase aufrechtzuerhalten.
- Smooth leadership transition with founder stepping in as interim CEO
- Continuity maintained with experienced leadership team
- No disruption to business operations expected
- Unexpected CEO departure creates temporary leadership uncertainty
- Potential strategic direction changes with new leadership
Insights
Duluth Holdings' announcement of CEO Samuel Sato's retirement without an immediate successor represents a meaningful governance development that warrants investor attention. The six-week transition window is notably brief for a planned CEO departure, raising questions about the timing and succession planning processes.
The return of founder Stephen Schlecht as interim CEO provides some continuity and institutional knowledge during this transition. However, founder returns to operational roles often signal potential challenges or strategic realignment needs. The press release's emphasis on "no disruption to our business" appears designed to preemptively address investor concerns.
This transition occurs against the backdrop of Duluth's challenging market position, reflected in its
The statement that Schlecht has remained "actively engaged" with leadership suggests he's maintained significant operational involvement despite his Chairman role, potentially indicating previous governance concerns. Investors should closely monitor this interim period for any strategic shifts and evaluate whether the incoming CEO will maintain current initiatives or implement significant changes to address the company's market challenges.
Stephen L. Schlecht to Assume Day-to-Day Leadership
Board of Directors Conducting Search for New CEO
MOUNT HOREB, Wis., March 13, 2025 (GLOBE NEWSWIRE) -- Duluth Holdings Inc. (dba, Duluth Trading Company) (“Duluth Trading” or the “Company”) (NASDAQ: DLTH), a lifestyle brand of men’s and women’s workwear, casual wear, outdoor apparel, and accessories, today announced that Samuel M. Sato has informed the Company that he plans to retire as President and Chief Executive Officer and as a Board member, effective April 25, 2025. During the transition period, Stephen L. Schlecht, the Company’s Chairman of the Board, Founder and former Chief Executive Officer, will assume day-to-day leadership of the Company with Mr. Sato’s assistance. The Board is undertaking a search for Mr. Sato’s replacement. The Board of Directors has appointed Mr. Schlecht as Interim Chief Executive Officer, effective April 25, 2025, unless the Board concludes its CEO search before that date.
Mr. Sato commented, “It has been a privilege to serve as President and CEO and member of the Board at Duluth Trading. I am humbled and proud of what our team has accomplished and the progress we have made. Working with such talented and passionate team members has been an honor. I believe the future of Duluth Trading is bright. Finally, I want to sincerely thank Steve Schlecht for his support and partnership over the course of my tenure.”
“On behalf of the Board of Directors, I want to thank Sam for his years of service and dedication and wish him the very best in his upcoming retirement,” said Mr. Schlecht. Mr. Schlecht continued, “I appreciate Sam’s contributions and leadership in advancing the strategic roadmap and strengthening our omni-channel capabilities.”
Mr. Schlecht concluded, “As the founder of Duluth Trading, I have a deep commitment to the ongoing success of our Company. To ensure the continuity of our vision and the execution of our strategy, I am fully invested in reassuming leadership of the Company until such time that a replacement is named. Over the years, I have been actively engaged with our talented senior leadership team, and we are committed to moving forward with no disruption to our business.”
About Duluth Trading
Duluth Trading is a lifestyle brand for the Modern, Self-Reliant American. Based in Mount Horeb, Wisconsin, we offer high quality, solution-based casual wear, workwear and accessories for men and women who lead a hands-on lifestyle and who value a job well-done. We provide our customers an engaging and entertaining experience. Our marketing incorporates humor and storytelling that conveys the uniqueness of our products in a distinctive, fun way, and are available through our content-rich website, catalogs, and “store like no other” retail locations. We are committed to outstanding customer service backed by our “No Bull Guarantee” - if it’s not right, we’ll fix it. Visit our website at http://www.duluthtrading.com.
Investor Contact: Tom Filandro ICR, Inc. (646) 277-1200 DuluthIR@icrinc.com
FAQ
When will Duluth Trading CEO Sam Sato officially retire?
Who will serve as interim CEO of Duluth Trading (DLTH)?
What leadership changes are happening at Duluth Trading (DLTH) during the CEO transition?
What major achievements were accomplished during Sam Sato's tenure as DLTH CEO?
