Champion Homes Implements CEO Succession Plan
Champion Homes (NYSE: SKY) announced a leadership transition, appointing Tim Larson as President, CEO, and Board member, effective immediately. Larson, who joined the company in 2021 as Chief Growth Officer, succeeds Mark Yost in these roles. In his previous position, Larson led the company's direct-to-consumer growth and brand transformation initiatives. He brings executive experience from roles as CEO of Jostens and CMO at Polaris Industries.
Board Chair Eddie Capel expressed confidence in Larson's leadership capabilities and noted that the company remains on track for solid third-quarter results. The transition aims to capitalize on new opportunities and continue building on the progress achieved during Yost's tenure.
Champion Homes (NYSE: SKY) ha annunciato un cambiamento nella leadership, nominando Tim Larson come Presidente, CEO e membro del Consiglio, con effetto immediato. Larson, che è entrato nell'azienda nel 2021 come Chief Growth Officer, succede a Mark Yost in questi ruoli. Nella sua posizione precedente, Larson ha guidato la crescita diretta al consumatore dell'azienda e le iniziative di trasformazione del marchio. Porta con sé un'esperienza dirigenziale avendo ricoperto ruoli come CEO di Jostens e CMO di Polaris Industries.
Il Presidente del Consiglio Eddie Capel ha espresso fiducia nelle capacità di leadership di Larson e ha osservato che l'azienda è sulla buona strada per solidi risultati nel terzo trimestre. La transizione mira a capitalizzare nuove opportunità e a continuare a costruire sui progressi raggiunti durante il mandato di Yost.
Champion Homes (NYSE: SKY) anunció una transición en la dirección, designando a Tim Larson como Presidente, CEO y miembro de la Junta, con efecto inmediato. Larson, quien se unió a la compañía en 2021 como Director de Crecimiento, sucede a Mark Yost en estos roles. En su puesto anterior, Larson lideró el crecimiento directo al consumidor y las iniciativas de transformación de la marca de la empresa. Aporta experiencia ejecutiva de roles como CEO de Jostens y CMO en Polaris Industries.
El Presidente de la Junta, Eddie Capel, expresó confianza en las capacidades de liderazgo de Larson y señaló que la empresa sigue en camino hacia sólidos resultados en el tercer trimestre. La transición tiene como objetivo capitalizar nuevas oportunidades y continuar construyendo sobre los progresos logrados durante el mandato de Yost.
챔피언 홈스 (NYSE: SKY)는 리더십 전환을 발표하며 팀 라슨을 즉시 발효되는 회장, CEO 및 이사로 임명했습니다. 2021년 회사에 최고 성장 책임자로 합류한 라슨은 이 역할에서 마크 요스트를 대체합니다. 이전 직책에서 라슨은 회사의 소비자 직접 성장과 브랜드 전환 이니셔티브를 이끌었습니다. 그는 조스텐스의 CEO와 폴라리스 인더스트리의 CMO 등의 직책에서 경영 경험을 쌓았습니다.
이사회 의장인 에디 케펠은 라슨의 리더십 능력에 대한 확신을 표명했으며, 회사가 3분기 solid한 결과를 향해 잘 나아가고 있음을 언급했습니다. 이번 전환은 새로운 기회를 활용하고 요스트의 재임 기간 동안 이루어진 진전을 지속적으로 구축하는 것을 목표로 하고 있습니다.
Champion Homes (NYSE: SKY) a annoncé une transition au niveau de la direction, appointant Tim Larson en tant que Président, CEO et membre du Conseil d'administration, avec effet immédiat. Larson, qui a rejoint l'entreprise en 2021 en tant que Directeur de la Croissance, succède à Mark Yost dans ces rôles. Dans son poste précédent, Larson a dirigé la croissance directe auprès des consommateurs et les initiatives de transformation de la marque de l'entreprise. Il apporte une expérience de direction acquise en tant que CEO de Jostens et CMO chez Polaris Industries.
Le Président du Conseil, Eddie Capel, a exprimé sa confiance dans les capacités de leadership de Larson et a noté que l'entreprise reste sur la bonne voie pour obtenir des résultats solides au troisième trimestre. Cette transition vise à tirer parti de nouvelles opportunités et à continuer de renforcer les progrès réalisés durant le mandat de Yost.
Champion Homes (NYSE: SKY) hat einen Führungswechsel bekannt gegeben und Tim Larson mit sofortiger Wirkung zum Präsidenten, CEO und Mitglied des Vorstands ernannt. Larson, der 2021 als Chief Growth Officer in das Unternehmen eintrat, folgt in diesen Positionen auf Mark Yost. In seiner vorherigen Position leitete Larson das Wachstum des Unternehmens im Direktvertrieb an Verbraucher sowie die Initiativen zur Markentransformation. Er bringt Führungserfahrung aus der Rolle des CEO von Jostens und CMO bei Polaris Industries mit.
Der Vorsitzende des Vorstands, Eddie Capel, äußerte Vertrauen in Larsons Führungsfähigkeiten und stellte fest, dass das Unternehmen weiterhin auf Kurs für solide Ergebnisse im dritten Quartal ist. Der Übergang zielt darauf ab, neue Chancen zu nutzen und den während Yosts Amtszeit erzielten Fortschritt weiter auszubauen.
- Company reports being on track for solid Q3 results
- Smooth leadership transition with immediate effectiveness
- New CEO brings relevant executive experience from Jostens and Polaris Industries
- Sudden CEO change could indicate potential strategic shifts or underlying challenges
Insights
This CEO transition at Champion Homes represents a strategic shift in leadership focus, with Tim Larson's background in consumer products and digital transformation suggesting a stronger emphasis on direct-to-consumer strategies and brand development. His experience at Jostens and Polaris Industries brings valuable consumer-centric expertise to the manufactured housing sector.
The orderly succession and board's confidence in maintaining Q3 performance targets indicates a well-planned transition. Larson's prior role as Chief Growth Officer and involvement in digital strategy development provides continuity while potentially accelerating the company's modernization efforts. The mention of "evolving housing solutions" hints at possible product innovation and market expansion initiatives.
The leadership change comes at a critical time for Champion Homes, as the manufactured housing industry faces both challenges and opportunities in the current housing market. Larson's appointment signals a potential strategic pivot towards digital transformation and consumer-direct initiatives, which could help capture market share in an increasingly tech-savvy homebuyer demographic.
The retention of CFO Laurie Hough provides financial continuity during the transition. The board's emphasis on maintaining Q3 performance suggests stable near-term operations, though investors should monitor how new leadership might impact long-term strategy and capital allocation decisions.
Tim Larson Appointed President and Chief Executive Officer, Succeeding Mark Yost
Mr. Larson joined Champion Homes in 2021 as Chief Growth Officer. In this role, he has been responsible for leading the Company’s direct-to-consumer growth and brand transformation while driving a customer-centric approach to the business. Mr. Larson is an accomplished executive in the consumer products and manufacturing industries, including serving as CEO of Jostens, Inc. and CMO and Sr. Vice President of Global Customer Excellence at Polaris Industries.
“As we engaged in our ongoing succession planning activities, the Board determined that Tim has the right set of leadership, operational and financial skills and experience to lead Champion Homes as it embarks on its next phase of growth,” said Eddie Capel, Chair of the Board of Directors. “Since joining the Company, Tim has been instrumental in developing and executing our digital direct-to-consumer strategy, expanding our retail footprint, and driving a customer-centric approach to the business. We are confident now is the right time to transition leadership and that he will continue to build on the progress achieved during Mark’s tenure as CEO. We remain on track to deliver solid results in our third quarter and will look to capitalize on new opportunities to unlock even more value for our shareholders with Tim at the helm. On behalf of the Board of Directors, I thank Mark for his leadership as CEO of Champion Homes and his many contributions over the past decade.”
Mr. Larson said, “It is an especially exciting time at Champion Homes. There is a tremendous opportunity to expand and elevate offsite built homes through customer-centric product and service innovation, in support of both homeowners and our retailers. I look forward to working with our CFO, Laurie Hough, and the entire outstanding Champion team as we evolve and grow our portfolio of housing solutions.”
“It has been a privilege to serve as CEO, and I am proud of what our team has accomplished during my tenure at Champion Homes,” Mr. Yost said. “Having worked closely with Tim in recent years, I am confident in his ability to lead the Company forward.”
About Tim Larson
Mr. Larson has been a member of the Champion Homes executive leadership team since 2021, serving as the Chief Growth Officer. He has significant experience transforming the customer and digital experience across a diverse portfolio of brands and manufacturing businesses with dealer-based retail channels. Mr. Larson acted as Board Chair for several businesses, including Spectro Alloys and Botanic Innovations. From August 2013 to January 2018, he served as CMO and Sr. Vice President of Global Customer Excellence for Polaris Industries. He served as President and Chief Executive Officer of Jostens, Inc. from January 2008 to January 2013. Mr. Larson earned a B.A. in Strategic Communications from the University of
About Champion Homes, Inc.
Champion Homes, Inc. (NYSE: SKY) is a leading producer of factory-built housing in
In addition to its core home building business, Champion Homes provides construction services to install and set-up factory-built homes, operates a factory-direct retail business with 72 retail locations across
Champion Homes builds homes under some of the most well-known brand names in the factory-built housing industry including Skyline Homes, Champion Homes, Genesis Homes, Regional Homes, Athens Park Models, Dutch Housing, Atlantic Homes, Excel Homes, Homes of Merit,
Forward-Looking Statements
Statements in this press release, including certain statements regarding Champion Homes’ expected future results and statements related to the expectation that Mr. Larson will help Champion Homes realize strategic growth opportunities and generate long-term shareholder value, are intended to be covered by the safe harbor for "forward-looking statements" provided by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by use of words such as "believe," "expect," "future," "anticipate," "intend," "plan," "foresee," "may," "could," "should," "will," "potential," "continue," or other similar words or phrases. Similarly, statements that describe objectives, plans, or goals also are forward-looking statements. Such forward-looking statements involve inherent risks and uncertainties, many of which are difficult to predict and are generally beyond the control of Champion Homes. We caution readers that a number of important factors could cause actual results to differ materially from those expressed in, implied, or projected by such forward-looking statements. Risks and uncertainties include regional, national and international economic, financial, public health and labor conditions, and the following: supply-related issues, including prices and availability of materials; labor-related issues; inflationary pressures in the North American economy; the cyclicality and seasonality of the housing industry and its sensitivity to changes in general economic or other business conditions; demand fluctuations in the housing industry, including as a result of actual or anticipated increases in homeowner borrowing rates; the possible unavailability of additional capital when needed; competition and competitive pressures; changes in consumer preferences for our products or our failure to gauge those preferences; quality problems, including the quality of parts sourced from suppliers and related liability and reputational issues; data security breaches, cybersecurity attacks, and other information technology disruptions; the potential disruption of operations caused by the conversion to new information systems; the extensive regulation affecting the production and sale of factory-built housing and the effects of possible changes in laws with which we must comply; the potential impact of natural disasters on sales and raw material costs; the risks associated with mergers and acquisitions, including integration of operations and information systems; periodic inventory adjustments by, and changes to relationships with, independent retailers; changes in interest and foreign exchange rates; insurance coverage and cost issues; the possibility that all or part of our intangible assets, including goodwill, might become impaired; the possibility that all or part of our investment in ECN Capital Corp. ("ECN") might become impaired; the possibility that our risk management practices may leave us exposed to unidentified or unanticipated risks; the potential disruption to our business caused by public health issues, such as an epidemic or pandemic, and resulting government actions; the possibility our share repurchase program will not enhance long-term stockholder value, could increase the volatility of our stock price, and diminish our cash reserves; unanticipated impacts from the transition in executive leadership; and other risks set forth in the “Risk Factors” section, the “Legal Proceedings” section, the “Management's Discussion and Analysis of Financial Condition and Results of Operations” section, and other sections, as applicable, in our Annual Reports on Form 10-K, including our Annual Report on Form 10-K for the fiscal year ended March 30, 2024 previously filed with the Securities and Exchange Commission (“SEC”), as well as in our Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, filed with or furnished to the SEC.
If any of these risks or uncertainties materializes or if any of the assumptions underlying such forward-looking statements proves to be incorrect, then the developments and future events concerning Champion Homes set forth in this press release may differ materially from those expressed or implied by these forward-looking statements. You are cautioned not to place undue reliance on these statements, which speak only as of the date of this release. We anticipate that subsequent events and developments will cause our expectations and beliefs to change. Champion Homes assumes no obligation to update such forward-looking statements to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events, unless obligated to do so under the federal securities laws.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241213894892/en/
Investors
Jason Blair, Investor Relations Manager
jablair@championhomes.com
(248) 614-8211
Source: Champion Homes, Inc.
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