Clarus Promotes John Walbrecht to President
Appointment Underscores Company’s Specific Focus on Outdoor and Consumer Industries
SALT LAKE CITY, March 12, 2018 (GLOBE NEWSWIRE) -- Clarus Corporation (NASDAQ:CLAR) (“Clarus” and/or the “Company”), a company focused on the outdoor and consumer industries, seeking opportunities to acquire and grow businesses that can generate attractive shareholder returns, has promoted John Walbrecht to president, effective March 9, 2018.
Walbrecht has been with Clarus for nearly 18 months, serving as president of the Company’s Outdoor Group. He brings to the Company more than 30 years of executive leadership experience from several strong active outdoor brands. Prior to Black Diamond, Walbrecht served as president and CEO of Mountain Hardwear, a manufacturer of high-tech active outdoor clothing, equipment and camping accessories and a subsidiary of Columbia Sportswear. Prior to that, he served as president and CEO of Fenix Outdoor, an international group of outdoor clothing and equipment brands. He has also served in senior leadership roles at Spyder Active Sports, Timberland and Dr. Martens.
Clarus Executive Chairman Warren Kanders commented: “During the 18 months John has been with us, he has instilled a clear strategic focus throughout the organization and across the industry, reinforcing Black Diamond as one of the most disruptive brands in the outdoor space. We welcome John to the executive team and look forward to his contributions as we enter the next chapter of our growth.
“To this end, we are highly focused on integrating and growing the Sierra business, and we’ve made substantial progress in this pursuit. It is also important to reiterate that we remain fully committed to a long-term capital acquisition strategy. As we evaluate further opportunities, we now intend to be focused on the outdoor and consumer industries. We believe straying too far from companies in this space would under-utilize the great people and significant capabilities and goodwill we’ve built in these industries at both the Clarus corporate and individual brand levels. So, given this focus, and John’s well-established and diverse background in the consumer industry, today’s promotion is a strong commitment to this strategy.”
Walbrecht holds a Master of Business Administration and a Bachelor of Science in Economics from Brigham Young University, a Bachelor of Arts in Marketing from the University of Maryland and understudies in International Trade and Finance at Cambridge University - Trinity College.
“I would like to express my appreciation to our board of directors for their confidence in me and supporting the future we are planning to create,” said Walbrecht. “Black Diamond has strong momentum in the marketplace today by committing to enhanced product development and design, a clear and consistent marketing strategy, and being a disciplined business partner with our retail base. We expect to apply the same playbook at Sierra and future opportunities, and I am looking forward to seeing our mission through.”
About Clarus Corporation
Clarus Corporation is focused on the outdoor and consumer industries, seeking opportunities to acquire and grow businesses that can generate attractive shareholder returns. The Company has substantial net operating tax loss carryforwards which it is seeking to redeploy to maximize shareholder value. Clarus’ primary business is as a leading developer, manufacturer and distributor of outdoor equipment and lifestyle products focused on the climb, ski, mountain, and sport categories. The Company’s products are principally sold under the Black Diamond®, Sierra® and PIEPS® brand names through specialty and online retailers, distributors and original equipment manufacturers throughout the U.S. and internationally. For additional information, please visit www.claruscorp.com or the brand websites at www.blackdiamondequipment.com, www.sierrabullets.com or www.pieps.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 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 acquisition strategy; the Company’s ability to successfully execute its acquisition strategy or that any such redeployment will result in the Company’s future profitability; the Company’s ability to successfully integrate Sierra Bullets, L.L.C.; changes in governmental regulation, legislation or public opinion relating to the manufacture and sale of bullets by our Sierra segment, and the possession and use of firearms and ammunition by our customers; 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; any breaches of, or interruptions in, our information systems; 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.
Warren B. Kanders
John C. Walbrecht
Aaron J. Kuehne
Chief Administrative Officer and
Chief Financial Officer
Released March 12, 2018