ANOKA, Minn. (BRAIN) — Vista Outdoor, the parent of several bike industry brands, has announced CFO Sudhanshu Priyadarshi will leave the company in November. Separately, Keurig Dr. Pepper announced that it has hired Priyadarshi as its new CFO, effective Nov. 14.
Vista also announced that sales in its fiscal third quarter are expected to be approximately $782 million, an increase of 0.4% over the same quarter last year. Sales in its Sporting Products division — which encompasses the company's ammunition and shooting sports brands — are expected to be down 4% to $432 million; sales in its Outdoor Products division — which includes Bell, Giro, Fox Racing, QuietKat, Blackburn, CamelBak and other brands — are expected to be about $349 million, up 6%.
The company will release its full fiscal quarter earnings report on Thursday.
Vista Outdoor has launched a formal search for a permanent successor to Priyadarshi. Until then, Andrew Keegan, its vice president of finance and treasury, has been named as the interim CFO.
CEO Chris Metz said, "On behalf of our Board of Directors and everyone at Vista Outdoor, I want to thank Sudhanshu for his significant contributions and disciplined financial leadership. I am personally thrilled for him as this represents the exact right next opportunity for Sudhanshu. We wish him well in his next role.
Vista Outdoor also said it is going ahead with plans to split the company into two publicly traded corporations, as announced in May. The split is expected to be completed in 2023.
