ANOKA, Minn.--(BUSINESS WIRE)--Oct 19, 2023--
Vista Outdoor Inc. (NYSE: VSTO), the parent company of 41 renowned brands that design, manufacture and market sporting and outdoor lifestyle products to consumers around the globe, this week announced that Andy Keegan, currently Vice President and interim Chief Financial Officer of Vista Outdoor, will serve as CFO of Revelyst following Vista Outdoor’s planned separation of its Outdoor Products segment into a standalone public company. Keegan will continue to serve as Vice President and interim CFO of Vista Outdoor until completion of the separation.
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Andy Keegan, currently Vice President and interim CFO for Vista Outdoor, will serve as CFO of Revelyst following the planned separation of the company’s Outdoor Products segment. (Photo: Business Wire)
Keegan, who has been serving as Vista Outdoor’s interim CFO since November 2022, is well known by investors and analysts and is highly respected across the industry. His financial leadership and expertise have been especially valuable since Vista Outdoor announced it will separate into two businesses. These assets make him the ideal candidate to lead Revelyst’s financial team and join the management team alongside the Outdoor Products segment’s recently appointed CEO, Eric Nyman.
“Andy was the right person to steer Vista Outdoor’s financial direction over the past 10 months and he’ll be the right financial leader to take over as Revelyst CFO after the separation,” said Nyman, CEO of Revelyst. “His positive contributions to the organization are immeasurable as we separate into two standalone companies, and Andy will bring continuity and stability to Revelyst. Not only is Andy a savvy CFO, but he has assembled a team that will dial in a bright financial outlook for Revelyst.”
Keegan joined Vista Outdoor’s predecessor Alliant Techsystems Inc. in 2012 and has more than 15 years of experience in finance, accounting and treasury. Before his current role, he was the Vice President of Treasury and Corporate FP&A from 2020 to 2022, CFO of the Ammunition Business unit from 2017 to 2020, Vice President of Corporate Accounting from 2015 to 2017 and held roles of increasing responsibility within the finance department at ATK before Vista Outdoor’s spinoff from ATK. He began his career with Deloitte. Keegan has undergraduate degrees in accounting and management from St. John’s University and serves on the Board of Directors of the Vista Outdoor Foundation.
“Serving as interim CFO for Vista Outdoor for almost a year has prepared me to step into this new role, which I am excited to take on,” said Keegan. “Separating the company into two has been a tall task, but our team has been up to the challenge — just as our Revelyst finance team is now ready to guide this new venture using lessons of the past with a fresh vision for the future. From Vista Outdoor to Revelyst, our goal has been, continues to be and will remain the same: Ensure the company is well positioned to deliver sustainable and profitable growth to shareholders.”
About Vista Outdoor Inc.
Vista Outdoor (NYSE: VSTO) is the parent company of more than three dozen renowned brands that design, manufacture and market sporting and outdoor products. Brands include Bushnell, CamelBak, Bushnell Golf, Foresight Sports, Fox Racing, Bell Helmets, Camp Chef, Giro, Simms Fishing, QuietKat, Stone Glacier, Federal Ammunition, Remington Ammunition and more. Our reporting segments, Outdoor Products and Sporting Products, provide consumers with a wide range of performance-driven, high-quality and innovative outdoor and sporting products. For news and information, visit our website at www.vistaoutdoor.com.
Forward-Looking Statements
Some of the statements made and information contained in these materials, excluding historical information, are “forward-looking statements,” including those that discuss, among other things: our plans, objectives, expectations, intentions, strategies, goals, outlook or other non-historical matters; projections with respect to future revenues, income, earnings per share or other financial measures for Vista Outdoor; and the assumptions that underlie these matters. The words “believe,” “expect,” “anticipate,” “intend,” “aim,” “should” and similar expressions are intended to identify such forward-looking statements. To the extent that any such information is forward-looking, it is intended to fit within the safe harbor for forward-looking information provided by the Private Securities Litigation Reform Act of 1995. Numerous risks, uncertainties and other factors could cause our actual results to differ materially from the expectations described in such forward-looking statements, including the following: risks related to the previously announced transaction among Vista Outdoor, Revelyst, Inc., CSG Elevate II Inc., CSG Elevate II Inc. and CZECHOSLOVAK GROUP a.s. (the “Transaction”), including (i) the failure to receive, on a timely basis or otherwise, the required approval of the Transaction by Vista Outdoor’s stockholders, (ii) the possibility that any or all of the various conditions to the consummation of the Transaction may not be satisfied or waived, including the failure to receive any required regulatory approvals from any applicable governmental entities (or any conditions, limitations or restrictions placed on such approvals), (iii) the possibility that competing offers or acquisition proposals may be made, (iv) the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement relating to the Transaction, including in circumstances which would require Vista Outdoor to pay a termination fee, (v) the effect of the announcement or pendency of the Transaction on Vista Outdoor’s ability to attract, motivate or retain key executives and employees, its ability to maintain relationships with its customers, vendors, service providers and others with whom it does business, or its operating results and business generally, (vi) risks related to the Transaction diverting management’s attention from Vista Outdoor’s ongoing business operations and (vii) that the Transaction may not achieve some or all of any anticipated benefits with respect to either business segment and that Transaction may not be completed in accordance with our expected plans or anticipated timelines, or at all; impacts from the COVID-19 pandemic on Vista Outdoor’s operations, the operations of our customers and suppliers and general economic conditions; supplier capacity constraints, production or shipping disruptions or quality or price issues affecting our operating costs; the supply, availability and costs of raw materials and components; increases in commodity, energy, and production costs; seasonality and weather conditions; our ability to complete acquisitions, realize expected benefits from acquisitions and integrate acquired businesses; reductions in or unexpected changes in or our inability to accurately forecast demand for ammunition, accessories, or other outdoor sports and recreation products; disruption in the service or significant increase in the cost of our primary delivery and shipping services for our products and components or a significant disruption at shipping ports; risks associated with diversification into new international and commercial markets, including regulatory compliance; our ability to take advantage of growth opportunities in international and commercial markets; our ability to obtain and maintain licenses to third-party technology; our ability to attract and retain key personnel; disruptions caused by catastrophic events; risks associated with our sales to significant retail customers, including unexpected cancellations, delays, and other changes to purchase orders; our competitive environment; our ability to adapt our products to changes in technology, the marketplace and customer preferences, including our ability to respond to shifting preferences of the end consumer from brick and mortar retail to online retail; our ability to maintain and enhance brand recognition and reputation; others’ use of social media to disseminate negative commentary about us, our products, and boycotts; the outcome of contingencies, including with respect to litigation and other proceedings relating to intellectual property, product liability, warranty liability, personal injury, and environmental remediation; our ability to comply with extensive federal, state and international laws, rules and regulations; changes in laws, rules and regulations relating to our business, such as federal and state ammunition regulations; risks associated with cybersecurity and other industrial and physical security threats; interest rate risk; changes in the current tariff structures; changes in tax rules or pronouncements; capital market volatility and the availability of financing; foreign currency exchange rates and fluctuations in those rates; general economic and business conditions in the United States and our markets outside the United States, including as a result of the war in Ukraine and the imposition of sanctions on Russia, the COVID-19 pandemic, conditions affecting employment levels, consumer confidence and spending, conditions in the retail environment, and other economic conditions affecting demand for our products and the financial health of our customers. You are cautioned not to place undue reliance on any forward-looking statements we make. A more detailed description of risk factors that may affect our operating results can be found in Part 1, Item 1A, Risk Factors, of our Annual Report on Form 10-K for fiscal year 2023 and in the filings we make with Securities and Exchange Commission (the “SEC”) from time to time. We undertake no obligation to update any forward-looking statements, except as otherwise required by law.
View source version on businesswire.com:https://www.businesswire.com/news/home/20231019555855/en/
CONTACT: Investor Contact:
Tyler Lindwall
Phone: 612-704-0147
Email:investor.relations@vistaoutdoor.comMedia Contact:
Eric Smith
Phone: 720-772-0877
Email:media.relations@vistaoutdoor.com
KEYWORD: MINNESOTA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: RETAIL GENERAL SPORTS GOLF MANUFACTURING FISHING OTHER SPORTS WOMEN SPORTS MEN OUTDOORS SPECIALTY OTHER MANUFACTURING LIFESTYLE CONSUMER HUNTING
SOURCE: Vista Outdoor Inc.
Copyright Business Wire 2023.
PUB: 10/19/2023 07:00 AM/DISC: 10/19/2023 07:02 AM
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