Black Diamond, Inc. Announces Resignation of Robert Schiller from Board of Directors
SALT LAKE CITY, May 01, 2017 (GLOBE NEWSWIRE) -- Black Diamond, Inc. (NASDAQ:BDE) (“Black Diamond” or the “Company”), a global leader of innovative active outdoor performance equipment and apparel, is announcing that, effective today, Robert Schiller has resigned as executive vice chairman and director in order to pursue other interests.
“We want to thank Rob and express our sincere appreciation for his many contributions to Black Diamond over the last seven years,” said Warren Kanders, Black Diamond’s executive chairman. “We understand and recognize that this is the right time for him to step down given other demands for his time. I am grateful for his contributions and wish him all the best in the future. Going forward, the rest of our executive team is looking to build on the revenue and operational momentum we experienced at the end of 2016, which positions us well to remain the #1 climbing brand in the world.”
“I am proud of what Black Diamond has accomplished during my tenure and believe I leave the Company well-positioned to enter its next phase of growth,” said Schiller. “I am confident that Black Diamond is prepared to continue its success as I look to expand my role in other ventures and professional interests. Warren and I have worked together for more than 20 years and we discussed and agreed that this was the right time for me and Black Diamond to move forward with my resignation. I am looking ahead with great optimism for both of us.”
Black Diamond’s board of directors does not expect to fill the executive vice chairman role given the number of non-executive directors currently serving.
About Black Diamond, Inc.
The Company is a publicly-traded (NASDAQ:BDE) holding company which seeks opportunities to acquire and grow businesses that can generate durable free cash flows and attractive returns. The Company has substantial cash balances and net operating tax loss carryforwards which it is seeking to redeploy to maximize shareholder value in a diverse array of businesses. Currently, Black Diamond Equipment, Ltd. is its only operating subsidiary. Black Diamond Equipment, Ltd. is a manufacturer of active outdoor equipment and clothing for the climbing, skiing and mountain sports markets. For additional information, please visit our corporate website at www.blackdiamond-inc.com.
Please note that in this press release we may use words such as “appears,” “anticipates,” “believes,” “plans,” “expects,” “intends,” “future,” and similar expressions which constitute forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are made based on our expectations and beliefs concerning future events impacting the Company and therefore involve a number of risks and uncertainties. We caution that forward-looking statements are not guarantees and that actual results could differ materially from those expressed or implied in the forward-looking statements. Potential risks and uncertainties that could cause the actual results of operations or financial condition of the Company to differ materially from those expressed or implied by forward-looking statements in this release include, but are not limited to, the overall level of consumer spending on our products; general economic conditions and other factors affecting consumer confidence; disruption and volatility in the global capital and credit markets; the financial strength of the Company's customers; the Company's ability to implement its reformation and growth strategy, including its ability to organically grow each of its historical product lines, the ability of the Company to identify potential acquisition or investment opportunities as part of its redeployment and diversification strategy; the Company’s ability to successfully redeploy its capital into diversifying assets or that any such redeployment will result in the Company’s future profitability; the Company’s exposure to product liability or product warranty claims and other loss contingencies; stability of the Company's manufacturing facilities and foreign suppliers; the Company's ability to protect patents, trademarks and other intellectual property rights; fluctuations in the price, availability and quality of raw materials and contracted products as well as foreign currency fluctuations; our ability to utilize our net operating loss carryforwards; and legal, regulatory, political and economic risks in international markets. More information on potential factors that could affect the Company's financial results is included from time to time in the Company's public reports filed with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. All forward-looking statements included in this press release are based upon information available to the Company as of the date of this press release, and speak only as of the date hereof. We assume no obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release.
Company Contact: Warren B. Kanders Executive Chairman Tel 1-203-428-2000 firstname.lastname@example.org or Aaron Kuehne Chief Administrative Officer and Chief Financial Officer Tel 1-801-993-1364 email@example.com or Radhika Ray VP of Strategy & Investor Relations Tel 1-646-290-0805 firstname.lastname@example.org Investor Relations: Liolios Cody Slach Tel 1-949-574-3860 BDE@liolios.com
Released May 1, 2017