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Vista Outdoor appoints Eric Nyman as CEO of Outdoor Products segment

Oct 06, 2023Oct 06, 2023

Vista Outdoor has announced that Eric Nyman, previously COO and President of Hasbro Inc., will take over the Outdoor Products segment, as of August 21st, and will lead the new Outdoor Products Company following a planned separation later this year.

Nyman and Sporting Products CEO Jason Vanderbrink will be elevated to the Vista Outdoor Board of Directors. “These appointments will enhance continuity and increase readiness for each segment ahead of the planned separation.” comments the business, upon making the announcement.

On May 5th, 2022, Vista Outdoor announced that the company plans to separate its Outdoor Products and Sporting Products segments into two independent, publicly traded companies.

Following the separation, Nyman will oversee the new Outdoor Products Company, whose name and branding will be announced soon. He also will serve as a director on the Outdoor Products Company board of directors. Outdoor Products will be an industry-leading, diversified platform of iconic outdoor brands, including CamelBak, Bell, Giro, Camp Chef, Bushnell, Bushnell Golf, Foresight Sports, Fox Racing, Simms Fishing Products, Stone Glacier, QuietKat and more.

“I am honoured 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 has experience in the outdoor industry, serving in brand management and marketing roles for outdoor apparel and footwear brand Timberland. Nyman currently serves on the Virginia Wesleyan University Board of Trustees and previously sat on the Board of the Roger Williams Park Historical Foundation.

“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.”

Interim Vista Outdoor CEO, Gary McArthur, will remain focused on the planned separation and retain that title until the split, will then become chairman of the board of the new Outdoor Products Company.

Realigning the business

In January of this year, Vista Outdoor announced a company realignment of its Cycling, Snow and Powersports platform.

Jeffrey McGuane, CEO Fox Racing, who has served as President of Fox Racing, will become President of the combined platform, which includes the brands Bell, Giro, Blackburn, Krash, Copilot, Raskullz and Fox Racing.

Financial reporting

Releasing first quarter FY24 details the business reported, for the three months ended June 25, 2023 versus the three months ended June 26, 2022:

“Sales decreased $109 million to $693 million, down 14 percent. Organic sales were $611 million, a decline of 24 percent, driven by lower shipments across nearly all categories in the Sporting Products segment and declines in the organic Outdoor Products businesses.”

Full details of the Q1 FY24 report can be found here.

Realigning the businessFinancial reporting