ANOKA, Minn. – 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, today announced that Gary McArthur, a member of the Company’s Board of Directors, has been appointed Interim Chief Executive Officer, effective immediately. Mr. McArthur succeeds Chris Metz, who agreed to resign as CEO and director at the request of the Vista Outdoor Board based on the Board’s loss of confidence in his leadership for reasons not involving financial reporting or internal controls.
Michael Callahan, Chairman of the Vista Outdoor Board, said, “Gary is a seasoned executive with extensive financial expertise and has played an integral role in driving Vista Outdoor’s success. We are grateful for Gary’s willingness to step in as CEO on an interim basis and expect him to hit the ground running. We appreciate Chris’ contributions to Vista Outdoor and wish him well in his next endeavor.”
Mr. Callahan continued, “Vista Outdoor has a clear strategic path and we remain on track to complete the separation of our Outdoor and Sporting Products segments in calendar year 2023. We remain confident that the separation will create two market-leading companies with enhanced strategic focus, additional resources, tailored capital allocation priorities and expanded strategic opportunities. We look forward to strengthening our brands and unlocking value for all of our stakeholders.”
Mr. McArthur said, “I look forward to serving as Interim CEO at this pivotal time in Vista Outdoor’s history. The entire Board, including myself, has been deeply involved in the oversight and execution of our strategy, and I am confident we will continue to capitalize on our strong momentum. With our unmatched portfolio of iconic brands, resilient operating model and strong balance sheet, we believe we are well-positioned to deliver compelling value for our shareholders. I look forward to working closely with the leadership team and leveraging my deep knowledge of the Company to drive Vista Outdoor’s strategic priorities forward during this transitional period.”
Mr. Metz said, “It has been an honor to lead Vista Outdoor for the last six years. Vista Outdoor has an excellent team of dedicated employees who will continue to drive the Company’s future success. I stand fully behind the planned separation of the Outdoor and Sporting Products segments into two strong, standalone businesses and believe the Company has a bright future ahead.”
The Company has entered into an agreement with Mr. Metz to ensure access to his institutional knowledge during the transition period.
About Gary McArthur
Gary McArthur brings extensive financial management and complex problem-solving experience to Vista Outdoor. Gary has served as a director of the Company’s Board of Directors since February 2015. He previously served as Vista Outdoor’s Chairman of the Audit Committee and member of the Nominating and Governance Committee until his recent appointment as the Company’s Interim CEO. He served as Executive Vice President and Chief Financial Officer of CH2M Hill, an engineering company that provides consulting, design and operations services, from 2014 to 2017. Prior to joining CH2M Hill, he worked more than 15 years for Harris Corporation, an international communications and information technology company serving government and commercial markets, where he served as Senior Vice President and Chief Financial Officer. Mr. McArthur has also been associated with Nextel Communications, Inc., Lehman Brothers, Inc. and Deloitte & Touche LLP and served on the boards of Terion, Inc. and Live TV Co. Ltd. Mr. McArthur is also a Certified Public Accountant.
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. We serve a broad and diverse range of consumers around the globe, including outdoor enthusiasts, golfers, cyclists, backyard grillers, campers, hunters, recreational shooters, athletes, as well as law enforcement and military professionals. Our reporting segments, Outdoor Products and Sporting Products, provide these consumers with a wide range of performance-driven, high-quality and innovative outdoor and sporting products. Our operating model leverages shared resources across brands to achieve levels of excellence and performance that would be out of reach for any one brand on its own. 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. Vista Outdoor products are sold at leading retailers and distributors across North America and worldwide. For news and information, visit our website at www.vistaoutdoor.com.
