- Board will lead a comprehensive CEO selection
process
EVANSVILLE, Ind., Aug. 14,
2024 /PRNewswire/ -- Escalade, Inc. (NASDAQ:
ESCA) announced today that Walter P.
Glazer, Jr. has notified the Escalade Board that he would
like to retire as Chief Executive Officer and President at the end
of 2024. The company's Board of Directors will lead a comprehensive
search process for his successor that will consider both internal
and external candidates.
Mr. Glazer, who has been a shareholder since 1991 and a Director
for the past nine years, will continue serving on the Board after
his retirement, pending annual shareholder approval. Reflecting on
his time as CEO, Glazer stated, "It has been an absolute privilege
and honor to lead Escalade and to work with our talented teams
during extraordinary times. Escalade is well positioned for the
future while continuing to deliver for our loyal consumers, trade
partners, and shareholders. Our mission is 'Connecting family and
friends, creating memorable moments and playing life to the
fullest.' My family has supported me while I've been away working
with Escalade for the past few years. With Escalade in a
strong position, it is time for me to reconnect with my own family
and create memorable moments with them."
Under Glazer's leadership, Escalade saw both significant growth
and successfully navigated the post-pandemic return to normalized
demand. Notable achievements include the acquisition of Brunswick
Billiards, the implementation of a decentralized,
consumer-centric organizational structure accompanied by a robust
leadership development program, a focus on capital allocation and
strategic optimization of assets, including the recent sale of the
company's Rosarita, Mexico
facility, and an unwavering commitment to total shareholder return.
He successfully guided the company during the global COVID-19
pandemic and its aftermath, maintaining strong operational and
financial performance during one of the most challenging periods in
recent history.
Ned Williams, Lead Independent
Director, praised Glazer's leadership, saying, "On behalf of
everyone at Escalade, I want to express our deepest gratitude for
Walt's leadership and unwavering dedication as President and CEO.
Walt's commitment and outstanding leadership have
guided Escalade through a period of unprecedented growth and
transformation. His focus on developing future leaders and ensuring
that Escalade consistently delivers value to consumers and trade
partners has positioned the company for continued long-term
success. We are extremely grateful for Walt's contributions and
look forward to working with him during the CEO transition process
and beyond as he will continue to contribute to Escalade through
his service as a Director after his retirement as President and
CEO."
ABOUT ESCALADE INC
Founded in 1922, and headquartered in Evansville, Indiana, Escalade designs,
manufactures, and sells sporting goods, fitness, and indoor/outdoor
recreation equipment. Our mission is to connect family, and
friends, to create memorable moments. Leaders in our respective
categories, Escalade's brands include Bear® Archery; STIGA® table
tennis; Accudart®; RAVE Sports®; Victory Tailgate®; Onix®
Pickleball; Goalrilla™; Lifeline® fitness products; Woodplay®;
American Heritage Billiards®. Escalade's products are available
online and at leading retailers nationwide. For more information
about Escalade's many brands, history, financials, and governance
please visit www.escaladeinc.com or contact Patrick Griffin, Vice President of Corporate
Development & Investor Relations at 812/467-1358.
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SOURCE Escalade, Incorporated