Nautilus, Inc. Appoints New Chief Legal Officer; Names Principal Accounting Officer

Rhea-AI Summary

Nautilus, Inc. (NYSE: NLS) has appointed Alan Chan as Chief Legal Officer, effective August 2. Chan brings over 20 years of experience in legal affairs, particularly in supply chain and intellectual property. He previously served at Arrow Electronics, managing global legal initiatives. Additionally, Sarah Jones, the former corporate controller, has been promoted to Principal Accounting Officer. Jones will expand her role in risk management and enhance communication with the Board. CEO Jim Barr highlighted that these appointments aim to strengthen the company's leadership as it pursues long-term growth strategies.

Positive

• Appointment of Alan Chan as Chief Legal Officer, bringing 20 years of experience, which may strengthen legal strategy and corporate governance.
• Promotion of Sarah Jones to Principal Accounting Officer, enhancing financial oversight and risk management.

Negative

• None.

Nautilus, Inc. (NYSE: NLS) today announced that it has hired Alan Chan as Chief Legal Officer, effective August 2. Chan will lead all aspects of Nautilus, Inc.’s global legal strategy, including corporate governance and compliance, mergers and acquisitions, and intellectual property. The company also announced the appointment of Sarah Jones, formerly corporate controller, to Principal Accounting Officer.

Nautilus, Inc. appoints Alan Chan as chief legal officer; veteran corporate legal executive brings extensive tech experience. (Photo: Business Wire)

New CLO Alan Chan brings over 20 years of experience, including deep legal knowledge in the areas of supply chain, intellectual property, and technology solutions and services.

Most recently, Chan was vice president of legal affairs and assistant corporate secretary for Arrow Electronics — a Fortune 150 company and leader in providing technology solutions — where he led global teams with diverse responsibilities. He guided and oversaw strategic initiatives, global M&A activity, and transformed the company’s commercial transaction strategy and practice.

Mr. Chan commented, “I’m incredibly excited to join this amazing team focused on the noble vision to build a healthier world, one person at a time. I’ve been on a personal health and fitness journey dating back to college when I considered a career in sports medicine. The digital strategy also aligns with my experience in technology, and I look forward to contributing to our customers’ fitness journeys.”

The company also appointed Sarah Jones, Nautilus, Inc.’s former corporate controller, to Principal Accounting Officer. Jones will have an expanded scope of interaction with the Nautilus Board of Directors, be responsible for the quarterly report to the audit committee and play a larger role in overall risk management for the company in addition to her current responsibilities overseeing accounting, financial shared services, credit and collections, SEC reporting, stock management, and internal control. Jones, who joined Nautilus in 2013, has held increasingly higher-level accounting and corporate controller positions during her eight years with the company.

“We are aggressively building our team with proven leaders like Alan and Sarah who give us a competitive advantage as we transform the business for long-term success,” said Jim Barr, Nautilus, Inc. Chief Executive Office. “Their deep expertise in driving our legal and financial strategies will be pivotal for executing our North Star initiatives and growth plans.”

About Nautilus, Inc.

Nautilus, Inc. (NYSE:NLS) is a global leader in digitally connected home fitness solutions. The company’s brand family includes Bowflex^®, Nautilus^®, Schwinn^®, and JRNY^®, its digital fitness platform. With a broad selection of exercise bikes, cardio equipment, and strength training products, Nautilus, Inc. empowers healthier living through individualized connected fitness experiences; and in doing so, envisions building a healthier world, one person at a time.

Headquartered in Vancouver, Washington, the company’s products are sold direct to consumer on brand websites and through retail partners and are available throughout the U.S. and internationally. Nautilus, Inc. uses the investor relations page of its website (www.nautilusinc.com/investors) to make information available to its investors and the market.

This press release includes forward-looking statements (statements which are not historical facts) within the meaning of the Private Securities Litigation Reform Act of 1995, including: planned investments and initiatives and the anticipated results of such initiatives. Factors that could cause Nautilus, Inc.’s actual results to differ materially from these forward-looking statements include: weaker than expected demand for new or existing products; our ability to timely acquire inventory that meets our quality control standards from sole source foreign manufacturers at acceptable costs; an inability to pass along or otherwise mitigate the impact of raw material price increases and other cost pressures, including unfavorable currency exchange rates; experiencing delays and/or greater than anticipated costs in connection with launch of new products, entry into new mar­kets, or strategic initiatives; our ability to hire, retain and integrate key management personnel, including our new Senior Vice President and Chief Digital Officer; changes in consumer fitness trends; changes in the media consumption habits of our target consumers or the effectiveness of our media advertising; a decline in consumer spending due to unfavorable economic conditions; and softness in the retail marketplace. Additional assumptions, risks and uncertainties are described in detail in our registration statements, reports and other filings with the Securities and Exchange Commission, including the “Risk Factors” set forth in our Annual Report on Form 10-K, as supplemented by our quarterly reports on Form 10-Q. Such filings are available on our website or at www.sec.gov. You are cautioned that such statements are not guarantees of future performance and that our actual results may differ materially from those set forth in the forward-looking statements. We undertake no obligation to publicly update or revise forward-looking statements to reflect subsequent developments, events or circumstances.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210809005193/en/

FAQ

Who is Alan Chan and what role has he taken at Nautilus, Inc.?

Alan Chan has been appointed as Chief Legal Officer at Nautilus, Inc., effective August 2. He brings over 20 years of experience in legal affairs.

What experience does Alan Chan have that benefits Nautilus, Inc.?

Alan Chan has extensive experience in supply chain, intellectual property, and technology, previously serving at Arrow Electronics as VP of legal affairs.

What is the significance of Sarah Jones's promotion at Nautilus, Inc.?

Sarah Jones has been promoted to Principal Accounting Officer, expanding her role in risk management and financial oversight, benefiting company governance.

How will the new leadership impact Nautilus, Inc.?

The new appointments aim to strengthen legal and financial strategies, providing a competitive advantage for Nautilus, Inc.'s long-term growth initiatives.