ANOKA, Minn. (BRAIN) — Vista Outdoor has appointed former Hasbro COO Eric Nyman as CEO of its Outdoor Products segment, a business unit that includes the cycling brands Bell, Giro, Fox Racing and QuietKat, as well as CamelBak.
The company confirmed its plans to split off the Outdoor Products business into a separate company this year, severing that business completely from its Shooting Sports business. The company said it would reveal the name and branding for the new company soon and said it has filed separation documents with the SEC confidentially. Both companies will be publicly traded.
Nyman takes over the Outdoor Products segment on Aug. 21. He also is joining the company's board of directors. Jason Vanderbrink, who is CEO of the Shooting Sports division, also is being elevated to the board.
Gary McArthur, who was named interim CEO of Vista Outdoor last year after CEO Chris Metz left the company suddenly, will retain that position until the planned separation is completed, and will then become chairman of the board for the new Outdoor Products company.
Nyman has more than 30 years in the consumer products industry. At Hasbro he was most recently president and COO.
"I am honored to join Vista Outdoor as the CEO of the Outdoor Products segment and a member of the Vista Outdoor Board of Directors," Nyman said. "It's an incredible opportunity to lead an iconic portfolio while also joining a purpose-driven company with a compelling mission that connects people to the outdoors in deeper and more meaningful ways. The planned separation to unlock shareholder value will generate momentum for our people, brands and shareholders. I look forward to partnering with our teams, the board and external stakeholders in the days and months ahead as we take Vista Outdoor, the Outdoor Products segment and our brands to new heights."
Nyman's experience in the outdoor industry includes serving in brand management and marketing roles for Timberland.
"Eric Nyman is a seasoned executive with extensive leadership, operational and marketing experience," Michael Callahan, chairman of the Vista Outdoor Board of Directors, said. "He is a visionary thinker who is fit to launch and lead the Outdoor Products Company. His unique background and skillset, combined with our company's unmatched portfolio of iconic brands, resilient operating model and strong balance sheet, positions Outdoor Products to deliver compelling value for our shareholders. I look forward to welcoming Eric in the coming weeks."
The Outdoor Products group is divided into two business units: seven bike- and winter sports-related brands comprise the Action Sports unit, which is led by former Fox Racing CEO Jeff McGuan and based in Irvine, California. The Outdoor Recreation unit includes CamelBak, Camp Chef, Bushnell, Bushnell Golf, Foresight Sports, Simms Fishing Products, and Stone Glacier.
The Shooting Sports division brands include Remington, Speer and Federal ammunition brands.
Vista Outdoor's stock is traded on the NYSE. It will announce its most recent quarterly results (fiscal Q1 2024) on July 27.
