Bauer Performance Sports Announces New Chairman of the Board
Bernard McDonell Appointed Chairman; C. Michael Jacobi Nominated to Board of Directors
EXETER, NEW HAMPSHIRE -- (Marketwire) -- 09/18/12 -- Bauer Performance Sports Ltd. (TSX:BAU) ("BAUER") today announced the Board of Directors has unanimously appointed Bernard McDonell as Chairman, effective immediately.
McDonell replaces W. Graeme Roustan, who resigned his position as Chairman, citing increased commitments with other business interests, including his current role as Chairman and Chief Executive Officer of GTA Sports and Entertainment. Roustan also withdrew his name from consideration for re-election to the Board at the Annual and Special meeting of BAUER's shareholders on October 17, 2012.
"I am honored to be appointed as the new Chairman and I want to express my sincere gratitude to Graeme Roustan for his past dedication to BAUER," McDonell said. "I am extremely proud to help lead this company's Board into the future. As a member of the Board since the Company's initial public offering, I have seen firsthand BAUER's commitment to its shareholders and to developing the most innovative, high-performance sports equipment in the industry. I look forward to playing a role in the company's continued success."
McDonell, who joined BAUER's Board of Directors on March 10, 2011, is currently the Lead Director of First Capital Realty Ltd., serving on the Executive, Audit and Corporate Governance Committees. Previously, McDonell served as President of Provigo Inc., a food retailer owned by Loblaw Companies Inc. and also served as a Director of Investus Real Estate Inc. and as Vice Chairman and CEO of Capital Wapiti Inc., an industrial real estate company.
In addition to the appointment of McDonell as Chairman, the Nominating Committee also nominated C. Michael Jacobi to BAUER's Board of Directors. Jacobi has extensive executive and director experience with major international companies, including previously as President and Chief Executive Officer of Timex Corporation, a leading worldwide manufacturer of watches, and he brings decades of experience with senior positions in marketing, sales, finance and manufacturing. Jacobi also serves as Chairman of the Board of Directors and as a member of the compensation committee of Sturm, Ruger & Company, a public company (NYSE) engaged in the manufacture and distribution of firearms. Jacobi previously was President and Chief Executive Officer at Katy Industries, Inc. and also currently serves on the Board of Directors of Webster Financial Corporation, KCAP Financial, Inc., and Corrections Corporation of America.
"We are privileged to have someone with Bernard's leadership and knowledge take over as Chairman and we are pleased to add Mike's vast experience to our Board," said Kevin Davis, CEO and President, Bauer Performance Sports. "Graeme has been a great partner for BAUER; we thank him for his more than four years of service and wish him well in his current and future endeavors. We are also confident that these new appointments will be significant assets for our leadership team and that Bernard and Mike will work closely with us as we execute our overall growth strategies."
ABOUT BAUER PERFORMANCE SPORTS LTD.
Bauer Performance Sports Ltd. (TSX:BAU) is a leading developer and manufacturer of ice hockey, roller hockey, and lacrosse equipment as well as related apparel. The company has the most recognized and strongest brand in the ice hockey equipment industry, and holds the top market share position in both ice and roller hockey. Its products are marketed under the Bauer Hockey, Mission Roller Hockey, Maverik Lacrosse and Cascade brand names and are distributed by sales representatives and independent distributors throughout the world. Bauer Performance Sports is focused on building its leadership position and growing market share in all product categories through continued innovation at every level. For more information, visit www.bauerperformancesports.com.
Caution Concerning Forward-Looking Statements
Certain statements in this press release about our current and future plans, expectations and intentions, results, levels of activity, performance, goals or achievements or any other future events or developments constitute forward looking statements. The words "will", "expects", "plans", "intends", "estimates" or "potential" or the negative or other variations of these words or other comparable words or phrases, are intended to identify forward looking statements. This press release contains forward-looking statements regarding BAUER's scheduled annual and special shareholders' meeting and anticipated results of the election of directors. Unless otherwise stated, the forward looking statements contained in this press release are made as of the date hereof, and we have no intention and undertake no obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise, except as required by law. The forward looking statements contained in this press release are expressly qualified by this cautionary statement.
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