Lazydays Announces John North's Commencement of Service as Chief Executive Officer and Appointment to Lazydays Holdings, Inc. Board of Directors
Lazydays Holdings, Inc. (Nasdaq: LAZY) announced the appointment of John North as CEO effective September 6, 2022, replacing Interim CEO Robert DeVincenzi, who returns as Lead Independent Director. North, former CFO of Copart and Avis Budget Group, brings extensive financial leadership experience. As part of his employment agreement, he received a restricted stock unit award for 105,308 shares, vesting over three years. This leadership change marks a pivotal move in Lazydays' strategy for growth and customer service excellence.
- John North's appointment as CEO brings significant industry experience.
- The restricted stock unit award aligns North's interests with shareholder value.
- Transition from an interim CEO may create initial operational challenges.
TAMPA, Fla., Sept. 6, 2022 /PRNewswire/ -- Lazydays Holdings, Inc. (NasdaqCM: LAZY) today announced that John North joined Lazydays as its Chief Executive Officer on September 6, 2022. Mr. North was also appointed to serve as a director on the Company's Board of Directors. Robert DeVincenzi, who has been acting as Interim Chief Executive Officer, will return to his role as Lead Independent Director on the board.
In connection with the commencement of John North's service, Lazydays granted Mr. North a restricted stock unit award covering 105,308 shares of Lazydays common stock. This award was granted as an inducement material to Mr. North becoming a new employee of Lazydays in accordance with The Nasdaq Stock Market Listing Rule 5635(c)(4). This restricted stock unit award will vest over three years, with one-third of the award vesting annually on September 6, 2023, 2024 and 2025.
The award was granted to Mr. North pursuant to the terms of his employment agreement and restricted stock unit award agreement, and is subject to accelerated vesting as described in the restricted stock unit award agreement. The award was granted pursuant to a stand-alone inducement restricted stock unit award agreement. However, such award will contain terms substantially similar to the terms of the Lazydays Holdings, Inc. Amended and Restated 2018 Long Term Incentive Plan.
ABOUT JOHN NORTH
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. (Nasdaq:CAR), 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. (NYSE:LAD), 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.
ABOUT LAZYDAYS RV
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."
News Contact:
+1 (813) 204-4099
investors@lazydays.com
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SOURCE Lazydays Holdings, Inc.
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