Fox Factory Holding Corp. Announces Promotion of Scott Humphrey to Chief Financial Officer

Rhea-AI Summary

Fox Factory Holding Corp. (Nasdaq: FOXF) appointed Scott Humphrey as Chief Financial Officer (CFO) effective August 4, 2020, succeeding interim CFO John Blocher who returns to Senior Vice-President of Finance. CEO Mike Dennison praised Humphrey for his strategic skills, essential for the company’s growth. With over 20 years of experience, including CFO roles at Hibbett Sports and Ciner Resources, Humphrey brings expertise in finance, operations management, and mergers. Fox Factory specializes in ride dynamics products for various vehicles, serving OEMs and aftermarket retailers.

Positive

• Scott Humphrey's promotion may enhance financial leadership and support long-term growth.
• Humphrey's extensive experience in finance and operations management is a potential asset for the company.

Negative

• Transitioning from an interim CFO to a new CFO may introduce short-term uncertainties in financial strategy.

BRASELTON, Ga., Aug. 05, 2020 (GLOBE NEWSWIRE) -- Fox Factory Holding Corp. (Nasdaq: FOXF) ("FOX" or the “Company”) announced today that veteran strategic and financial executive Scott Humphrey was promoted to the role of Chief Financial Officer (“CFO”) effective August 4, 2020.  Mr. Humphrey will succeed interim CFO, John Blocher, who will reassume the role Senior Vice-President of Finance.

“We are excited to promote Scott to the role of CFO. After a thorough executive search, we believe Scott has the skills and experiences necessary to support FOX’s long-term growth. Scott has the financial and strategic acumen we will need to further build our organizational systems and capabilities,” commented Mike Dennison, Chief Executive Officer. “On behalf of the entire team at FOX, I would also like to thank John for all his contributions as our interim CFO, including his tireless work during this past year and his eight years at the Company.”

Mr. Humphrey, previously FOX’s Senior Vice-President of Finance, has over 20 years of experience in finance and operations management and provides the Company with a depth of experience in equity and debt financing, budgeting and forecasting, and execution of mergers and acquisitions.  Prior to joining FOX, Mr. Humphrey was the interim Chief Financial Officer of Hibbett Sports, Inc. and he served as Chief Financial Officer of Ciner Resources LP.

About Fox Factory Holding Corp. (Nasdaq: FOXF)

Fox Factory Holding Corp. designs and manufactures performance-defining ride dynamics products primarily for bicycles, on-road and off-road vehicles and trucks, side-by-side vehicles, all-terrain vehicles, snowmobiles, specialty vehicles and applications, motorcycles, and commercial trucks. The Company is a direct supplier to leading powered vehicle original equipment manufacturers (“OEMs”). Additionally, the Company supplies top bicycle OEMs and their contract manufacturers, and provides aftermarket products to retailers and distributors.

FOX is a registered trademark of Fox Factory, Inc. NASDAQ Global Select Market is a registered trademark of The NASDAQ OMX Group, Inc. All rights reserved.

Contact

ICR
Katie Turner
646-277-1228
Katie.turner@icrinc.com

 

FAQ

Who has been appointed as the new CFO of Fox Factory Holding Corp.?

Scott Humphrey has been appointed as the new Chief Financial Officer of Fox Factory Holding Corp. effective August 4, 2020.

What experience does Scott Humphrey bring to Fox Factory?

Scott Humphrey brings over 20 years of experience in finance and operations management, including previous roles as CFO at Hibbett Sports and Ciner Resources.

What role did John Blocher have before Scott Humphrey's appointment?

John Blocher served as the interim Chief Financial Officer and will return to the position of Senior Vice-President of Finance.

How might Scott Humphrey's appointment impact Fox Factory Holding Corp.?

Scott Humphrey's appointment as CFO is expected to strengthen financial leadership and support the company's long-term growth strategy.