Zvi Glasman to Leave the Company After More Than 10 Years as CFO
Company Initiates Search for Successor
Reaffirms Third Quarter and Fiscal 2019 Guidance
BRASELTON, Ga., Aug. 27, 2019 (GLOBE NEWSWIRE) -- Fox Factory Holding Corp. (NASDAQ: FOXF) (“FOX” or the “Company”) today announced that after more than 10 years with the Company, Zvi Glasman will leave his role as Chief Financial Officer (“CFO”), to pursue other interests, effective on November 1, 2019, following its third quarter fiscal year 2019 earnings. FOX has initiated a search to identify its next CFO and will consider both internal and external candidates with the assistance of a leading executive search firm. Mr. Glasman will remain available to ensure a smooth transition through February 28, 2020. The Company also reaffirmed its third quarter and fiscal year 2019 guidance as previously outlined on July 31, 2019.
“Zvi has been an integral member of our executive team for over ten years having successfully helped us transition our business from a privately-held to publicly-traded company, executing and integrating five strategic M&A transactions, and consistently aligning our organization to deliver on our financial objectives for the last 24 quarters,” commented Mike Dennison, FOX’s Chief Executive Officer. “Zvi’s expertise and contributions have been significant to our efforts to grow our global product portfolio, drive sales growth and expand margins. On behalf of everyone at FOX, I thank Zvi for his service and I look forward to continuing to work closely with him during the transition.”
Mr. Glasman said, “It has been a privilege to work alongside a talented and dedicated global team at FOX that consistently demonstrates a commitment to the product innovation and the growth of the FOX brand. I have great confidence in their ability to achieve our strategic and financial goals, and believe FOX is well-positioned to capitalize on opportunities for value creation well into the future.”
About Fox Factory Holding Corp. (NASDAQ: FOXF)
Fox Factory Holding Corp. designs and manufactures performance-defining ride dynamics products primarily for bicycles, on-road and off-road vehicles and trucks, side-by-side vehicles, all-terrain vehicles, snowmobiles, specialty vehicles and applications, and motorcycles. The Company is a direct supplier to leading power vehicle original equipment manufacturers ("OEMs"). Additionally, the Company supplies top bicycle OEMs and their contract manufacturers, and provides aftermarket products to retailers and distributors.
FOX is a registered trademark of Fox Factory, Inc. NASDAQ Global Select Market is a registered trademark of The NASDAQ OMX Group, Inc. All rights reserved.
