LAZYDAYS ANNOUNCES JOHN NORTH AS NEW CEO
Lazydays Holdings Inc. (Nasdaq: LAZY) has appointed John North as the new Chief Executive Officer, effective September 6, 2022. North, who previously served as CFO of Copart (Nasdaq: CPRT), brings extensive leadership experience in multi-unit dealership operations. His appointment aims to enhance Lazydays' growth strategy and shareholder value. Chris Shackelton, Chairman of the Board, expressed confidence in North's operational strengths and capital allocation skills. The company recognizes its solid foundation and aims to capitalize on new investment opportunities.
- Appointment of John North as CEO expected to drive operational growth.
- North's experience in dealership operations may enhance shareholder value.
- Strong leadership team with a focus on capital allocation.
- Transition period may introduce uncertainty in management continuity.
TAMPA, Fla., July 19, 2022 /PRNewswire/ -- Lazydays Holdings Inc. (NasdaqCM: LAZY), has appointed John North as Chief Executive Officer and a member of the Board of Directors, effective September 6, 2022.
"It is an honor to welcome John North to Lazydays," said Chris Shackelton, Chairman of the Board. "John is an accomplished executive with an admirable track record of driving success across multiple companies. We could not be more excited about the combination of John's operational strengths, paired with a disciplined growth orientation. John brings a deep understanding for building durable scale in multi-unit, high ASP dealership models, with superb judgement in allocating capital through business cycles. This combination is highly relevant for Lazydays, as the Company assesses a widening range of compelling investment opportunities to drive shareholder value. Furthermore, as a leader of large public companies, John has a stellar reputation and history of developing strong relationships with investors and capital sources. Importantly, John is a collaborative leader whose skillset will complement and amplify the talented Lazydays team."
"Lazydays has built one of the most respected businesses in the RV industry," said John North. "It is a privilege to join the Company at such a pivotal moment. The Lazydays foundation is solid, and well-positioned for a long runway of shareholder value creation. With a healthy balance sheet, strong brand, loyal customer base, and fantastic team, I am excited to help lead the Company to an even brighter future. I look forward to working with my new colleagues and the Board to ensure the business reaches its full potential."
Chris Shackelton adds, "Lastly, on behalf of the Board and our shareholders, I would like to extend our sincere gratitude to Robert DeVincenzi for his leadership as Interim CEO. Effective with the appointment of John, Robert will return to our board serving as a non-executive director".
John most recently served as Chief Financial Officer of Copart, Inc. (Nasdaq:CPRT), a member of the S&P 500 and a leading provider of online auctions and vehicle remarketing services. Previously, he served as the Chief Financial Officer of Avis Budget Group, Inc., a global leader in car and truck rental and on-demand car sharing. Before joining Avis Budget Group, he spent 17 years in leadership roles with Lithia Motors, Inc., one of the largest automotive retailers in the United States, including as Chief Financial Officer and Chief Accounting Officer. John earned his B.S. in Finance from Santa Clara University and is a Certified Public Accountant and a CFA Charterholder.
As an iconic brand in the RV industry, Lazydays, The RV Authority, consistently provides the best RV sales, service, and ownership experience, which is why RVers and their families become Customers for Life. Lazydays continues to add locations at a rapid pace as it executes its geographic expansion strategy that includes both acquisitions and greenfields.
Since 1976, Lazydays RV has built a reputation for providing an outstanding customer experience with exceptional service excellence and unparalleled product expertise, along with being a preferred place to rest and recharge with other RVers. By offering the largest selection of RV brands from the nation's leading manufacturers, state-of-the-art service facilities, and thousands of accessories and hard-to-find parts, Lazydays RV provides everything RVers need and want.
Lazydays Holdings, Inc. is a publicly listed company on the Nasdaq stock exchange under the ticker "LAZY."
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements describe Lazydays future plans, projections, strategies and expectations, including statements regarding Lazydays' expectations for future operating results, its expectations regarding the impact of its recently acquired dealerships in Maryville, Tennessee, Portland, Oregon, Vancouver, Washington, and Milwaukee, Wisconsin; and its greenfield start-ups in Monticello, Minnesota, Fort Pierce, Florida, near Omaha, Nebraska, Wilmington, Ohio, Surprise, Arizona; and its recently announced intent to acquire Dave's Claremore RV; and three dedicated Airstream locations in Ramsey, Minnesota and Knoxville and Nashville, Tennessee; and are based on assumptions and involve a number of risks and uncertainties, many of which are beyond the control of Lazydays. Actual results could differ materially from those projected due to various factors, including the impact of the conflict between Russia and Ukraine, including from current and future sanctions imposed by governments or other authorities, including economic conditions generally (including increasing fuel costs), conditions in the credit markets and changes in interest rates, conditions in the capital markets, the continuing impact of the coronavirus pandemic (COVID-19) and other factors described from time to time in Lazydays' SEC reports and filings, which are available at www.sec.gov and other factors that Lazydays may not have currently identified or quantified. Forward-looking statements contained in this news release speak only as of the date of this news release, and Lazydays undertakes no obligation to update these forward-looking statements to reflect subsequent events or circumstances, unless otherwise required by law.
News Contact:
+1 (813) 204-4099
investors@lazydays.com
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SOURCE Lazydays Holdings, Inc.
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