Solo Brands Announces Leadership Transition
Solo Brands (NYSE: DTC) announced a leadership transition with John Larson, a board member, appointed as Interim President and Chief Executive Officer, effective immediately. Larson succeeds Chris Metz, who is stepping down from his roles as President, CEO, and board member.
Metz will remain with the company in a non-executive capacity through March 7, 2025, to ensure a smooth transition. Board Chairman Matt Hamilton expressed confidence in Larson's strategic expertise and experience with enthusiast brands to lead the company while a search for a permanent CEO is conducted.
The company confirmed that Metz's departure is not due to any disagreement with the Company or Board, or any matters relating to operations, policies, or practices. The Board will conduct a process to identify a permanent CEO.
Solo Brands (NYSE: DTC) ha annunciato un cambiamento nella leadership con John Larson, un membro del consiglio, nominato Presidente e Amministratore Delegato ad interim, con effetto immediato. Larson succede a Chris Metz, che si dimette dalle sue cariche di Presidente, CEO e membro del consiglio.
Metz rimarrà con l'azienda in una capacità non esecutiva fino al 7 marzo 2025, per garantire una transizione fluida. Il Presidente del Consiglio, Matt Hamilton, ha espresso fiducia nell'expertise strategica di Larson e nella sua esperienza con marchi per appassionati, per guidare l'azienda mentre si svolge la ricerca di un CEO permanente.
L'azienda ha confermato che le dimissioni di Metz non sono dovute a disaccordi con l'azienda o il consiglio, né a questioni relative a operazioni, politiche o pratiche. Il Consiglio avvierà un processo per identificare un CEO permanente.
Solo Brands (NYSE: DTC) anunció una transición en el liderazgo con John Larson, un miembro de la junta, nombrado Presidente y Director Ejecutivo interino, con efecto inmediato. Larson sucede a Chris Metz, quien deja sus roles como Presidente, CEO y miembro de la junta.
Metz permanecerá en la empresa en una capacidad no ejecutiva hasta el 7 de marzo de 2025, para asegurar una transición suave. El Presidente de la Junta, Matt Hamilton, expresó confianza en la experiencia estratégica de Larson y su experiencia con marcas de entusiastas para liderar la empresa mientras se busca un CEO permanente.
La empresa confirmó que la salida de Metz no se debe a ningún desacuerdo con la empresa o la junta, ni a cuestiones relacionadas con operaciones, políticas o prácticas. La Junta llevará a cabo un proceso para identificar un CEO permanente.
Solo Brands (NYSE: DTC)는 John Larson 이사를 임시 사장 겸 CEO로 즉시 임명하며 리더십 전환을 발표했습니다. Larson은 Chris Metz의 후임으로, 그는 사장, CEO 및 이사직에서 물러납니다.
Metz는 2025년 3월 7일까지 비상임으로 회사에 남아 원활한 전환을 보장할 것입니다. 이사회 의장인 Matt Hamilton은 Larson의 전략적 전문성과 열정 브랜드에 대한 경험을 바탕으로 CEO가 정해질 때까지 회사를 이끌 것이라고 확신했습니다.
회사는 Metz의 퇴사가 회사나 이사회와의 불일치 또는 운영, 정책 또는 관행과 관련된 문제로 인한 것이 아님을 확인했습니다. 이사회는 영구 CEO를 찾기 위한 과정을 진행할 것입니다.
Solo Brands (NYSE: DTC) a annoncé une transition de leadership avec John Larson, membre du conseil, nommé Président et Directeur Général par intérim, avec effet immédiat. Larson succède à Chris Metz, qui démissionne de ses fonctions de Président, CEO et membre du conseil.
Metz restera avec l'entreprise dans un rôle non exécutif jusqu'au 7 mars 2025, pour assurer une transition en douceur. Le Président du Conseil, Matt Hamilton, a exprimé sa confiance dans l'expertise stratégique de Larson et son expérience avec des marques pour passionnés pour diriger l'entreprise pendant la recherche d'un CEO permanent.
L'entreprise a confirmé que le départ de Metz n'est pas dû à un désaccord avec l'entreprise ou le conseil, ni à des questions relatives aux opérations, aux politiques ou aux pratiques. Le Conseil procédera à un processus pour identifier un CEO permanent.
Solo Brands (NYSE: DTC) gab einen Führungswechsel bekannt, wobei John Larson, ein Mitglied des Vorstands, mit sofortiger Wirkung zum Interimspräsidenten und CEO ernannt wurde. Larson folgt auf Chris Metz, der von seinen Ämtern als Präsident, CEO und Vorstandsmitglied zurücktritt.
Metz wird bis zum 7. März 2025 in einer nicht-executiven Rolle im Unternehmen bleiben, um einen reibungslosen Übergang zu gewährleisten. Der Vorsitzende des Vorstands, Matt Hamilton, äußerte Vertrauen in Larsons strategische Expertise und Erfahrung mit Marken für Enthusiasten, um das Unternehmen zu führen, während nach einem permanenten CEO gesucht wird.
Das Unternehmen bestätigte, dass Metz’ Rücktritt nicht auf Meinungsverschiedenheiten mit dem Unternehmen oder dem Vorstand oder auf Fragen im Zusammenhang mit Betrieb, Richtlinien oder Praktiken zurückzuführen ist. Der Vorstand wird einen Prozess zur Identifizierung eines permanenten CEOs einleiten.
- Orderly leadership transition with outgoing CEO staying until March 2025
- Interim CEO already familiar with company as board member
- Unexpected CEO departure requiring interim replacement
- Uncertainty period during search for permanent CEO
Appoints John Larson as Interim Chief Executive Officer
“John has the strategic expertise and necessary leadership skills to serve as Interim CEO at Solo Brands,” said Matt Hamilton, Chairman of the Board. “We are confident that his background and experience leading enthusiast brands will ensure a smooth transition while the search process for a permanent CEO is underway.”
“I am honored to be named Interim CEO and to continue working closely with the Board and management team to drive Solo Brands forward during this time,” said Mr. Larson. “We are committed to continue building the next generation of digitally-connected commerce and remain laser focused on executing the strategic plans laid out and leading with product innovation.”
Mr.
“I would like to thank the Board for the opportunity to lead this great organization,” said Mr. Metz. “I also want to thank my teammates for their trust and support during my tenure. Their dedication to our brands, products and customers are what makes this company so special.”
The Solo Brands Board will conduct a process to identify a permanent CEO. Mr. Metz’s departure is not a result of any disagreement with the Company or the Board, or any matter relating to the Company’s operations, policies, or practices.
About John Larson
Mr. Larson joined the Solo Brands Board in December 2024. He most recently served as Chief Executive Officer of Bestop, Inc., a leading manufacturer of soft tops and accessories for Jeep vehicles, since 2015. He previously served as Chief Executive Officer of Escort Inc., an automobile electronics manufacturer from 2008 to 2014 and as its President and Chief Operating Officer from 2007 to 2008. Prior to that, he worked in a number of senior management positions at General Motors Company, a leading car manufacturer, from 1986 to 2007. He has served on a number of public and private company boards, including as Chairman of IAA, Inc. from 2019 until 2023; the Lead Independent Director of KAR Auction Services, Inc., a provider of vehicle auction services, from 2015 to 2019, and a director for SCA Performance, Inc. a leading manufacturer of high-end custom trucks for Ford, GM and Dodge, from 2018 to 2020. Mr. Larson received a B.S. in Finance from
About Solo Brands:
Solo Brands, headquartered in
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation statements regarding our chief executive officer transition; the execution of our strategic plans; and our financial position, seasonal trends, momentum from retail partners, impacts of previously announced restructuring efforts. 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. These statements are neither promises nor guarantees, and 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, including, but not limited to, the following: reactions from our employees, vendors, customers, lenders and investors to the chief executive officer transition announced hereby; the impact of the chief executive officer transition on our common stock; our ability to manage our future growth effectively; our ability to expand into additional markets; our ability to maintain and strengthen our brand to generate and maintain ongoing demand for our products; our ability to cost-effectively attract new customers and retain our existing customers; the highly competitive market in which we operate; and the ability of our stockholders to influence corporate matters. These and other important factors discussed under the caption "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2023, as amended by Amendment No. 1 on Form 10-K/A, and any subsequent Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, or other filings we make with the Securities and Exchange Commission could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Forward-looking statements speak only as of the date the statements are made and are based on information available to Solo Brands at the time those statements are made and/or management's good faith belief as of that time with respect to future events. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250218270481/en/
Company Contact:
Solo Brands, Inc.
Mark Anderson
Sr. Director, Treasury & Investor Relations
investors@solobrands.com
Investor Relations Contact:
Three Part Advisors, LLC
Sandy Martin or Steven Hooser
214-616-2207
Source: Solo Brands, Inc.
FAQ
Who is the new interim CEO of Solo Brands (DTC)?
When will Chris Metz leave Solo Brands (DTC)?
Why did Solo Brands (DTC) CEO Chris Metz step down?
What is Solo Brands (DTC) doing to find a permanent CEO?
How long will the interim CEO arrangement at Solo Brands (DTC) last?
