ANOKA, Minn.--(BUSINESS WIRE)--Oct 23, 2023--
Vista Outdoor Inc. (NYSE: VSTO), the parent company of 41 renowned brands that design, manufacture and market sporting and outdoor lifestyle products to consumers around the globe, today announced that Jung Choi will serve as General Counsel and Corporate Secretary for Revelyst following Vista Outdoor’s planned separation of its Outdoor Products segment into a standalone public company. Her appointment is effective Oct. 23. Until the completion of the separation, Choi will serve as Co-General Counsel of Vista Outdoor, with responsibility for the Outdoor Products segment.
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Vista Outdoor Inc. today announced that Jung Choi will serve as General Counsel and Corporate Secretary for Revelyst following Vista Outdoor’s planned separation of its outdoor products segment into a standalone public company. Her appointment is effective Oct. 23. Until the completion of the separation, Choi will serve as Co-General Counsel of Vista Outdoor, with responsibility for the Outdoor Products segment. (Photo: Business Wire)
Choi brings more than 15 years of diversified legal experience and expertise to Revelyst, including roles at publicly traded companies and in private practice. She most recently served as General Counsel and Corporate Secretary for Boxed, Inc., the New York-based e-commerce grocery platform that sells bulk consumables and licenses its e-commerce software to enterprise retailers. Before Boxed, Choi held senior counsel roles for Stanley Black & Decker, Inc., and Bristol-Myers Squibb Co. and was an associate for the Capital Markets & Corporate Group in the New York and Hong Kong offices of Davis Polk & Wardwell LLP.
“Bringing Jung on board is an important milestone for Revelyst,” said Eric Nyman, CEO of Revelyst. “In addition to her legal proficiency and professionalism, Jung’s most recent experience working with a publicly traded e-commerce platform at Boxed is perfectly aligned with our goal of building a consumer-first, digital culture that helps people achieve their greatest outdoor aspirations. Her appointment will serve us well and guide us as we begin our journey to becoming the greatest house of brands in the outdoor industry.”
Choi is the newest member of the Revelyst management team, joining Nyman, who became CEO in August, and Andy Keegan, whose appointment to CFO was announced last week. Choi, who holds a Bachelor of Arts from Yale University and a Juris Doctorate from Georgetown University, will oversee legal and compliance functions first for Vista Outdoor’s Outdoor Products segment and then for Revelyst post-separation.
“I’m honored to be appointed General Counsel and Corporate Secretary for Revelyst, particularly at this pivotal time as we transform it into a standalone public company,” said Choi. “It’s a unique opportunity to join a company with incredible brand recognition, a differentiated value proposition and a purpose-driven, people-first culture. I was drawn to Revelyst’s mission of bringing people together over a shared love for the outdoors, combined with its demonstrable passion for innovation to drive growth at scale. I look forward to joining Eric and the team on the exciting journey to unlock Revelyst’s bright future.”
About Vista Outdoor Inc.
Vista Outdoor (NYSE: VSTO) is the parent company of more than three dozen renowned brands that design, manufacture and market sporting and outdoor products. Brands include Bushnell, CamelBak, Bushnell Golf, Foresight Sports, Fox Racing, Bell Helmets, Camp Chef, Giro, Simms Fishing, QuietKat, Stone Glacier, Federal Ammunition, Remington Ammunition and more. Our reporting segments, Outdoor Products and Sporting Products, provide consumers with a wide range of performance-driven, high-quality and innovative outdoor and sporting products. For news and information, visit our website at www.vistaoutdoor.com.
Forward-Looking Statements
Some of the statements made and information contained in these materials, excluding historical information, are “forward-looking statements,” including those that discuss, among other things: our plans, objectives, expectations, intentions, strategies, goals, outlook or other non-historical matters; projections with respect to future revenues, income, earnings per share or other financial measures for Vista Outdoor; and the assumptions that underlie these matters. The words “believe,” “expect,” “anticipate,” “intend,” “aim,” “should” and similar expressions are intended to identify such forward-looking statements. To the extent that any such information is forward-looking, it is intended to fit within the safe harbor for forward-looking information provided by the Private Securities Litigation Reform Act of 1995. Numerous risks, uncertainties and other factors could cause our actual results to differ materially from the expectations described in such forward-looking statements, including the following: risks related to the previously announced transaction among Vista Outdoor, Revelyst, Inc., CSG Elevate II Inc., CSG Elevate II Inc. and CZECHOSLOVAK GROUP a.s. (the “Transaction”), including (i) the failure to receive, on a timely basis or otherwise, the required approval of the Transaction by Vista Outdoor’s stockholders, (ii) the possibility that any or all of the various conditions to the consummation of the Transaction may not be satisfied or waived, including the failure to receive any required regulatory approvals from any applicable governmental entities (or any conditions, limitations or restrictions placed on such approvals), (iii) the possibility that competing offers or acquisition proposals may be made, (iv) the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement relating to the Transaction, including in circumstances which would require Vista Outdoor to pay a termination fee, (v) the effect of the announcement or pendency of the Transaction on Vista Outdoor’s ability to attract, motivate or retain key executives and employees, its ability to maintain relationships with its customers, vendors, service providers and others with whom it does business, or its operating results and business generally, (vi) risks related to the Transaction diverting management’s attention from Vista Outdoor’s ongoing business operations and (vii) that the Transaction may not achieve some or all of any anticipated benefits with respect to either business segment and that Transaction may not be completed in accordance with our expected plans or anticipated timelines, or at all; impacts from the COVID-19 pandemic on Vista Outdoor’s operations, the operations of our customers and suppliers and general economic conditions; supplier capacity constraints, production or shipping disruptions or quality or price issues affecting our operating costs; the supply, availability and costs of raw materials and components; increases in commodity, energy, and production costs; seasonality and weather conditions; our ability to complete acquisitions, realize expected benefits from acquisitions and integrate acquired businesses; reductions in or unexpected changes in or our inability to accurately forecast demand for ammunition, accessories, or other outdoor sports and recreation products; disruption in the service or significant increase in the cost of our primary delivery and shipping services for our products and components or a significant disruption at shipping ports; risks associated with diversification into new international and commercial markets, including regulatory compliance; our ability to take advantage of growth opportunities in international and commercial markets; our ability to obtain and maintain licenses to third-party technology; our ability to attract and retain key personnel; disruptions caused by catastrophic events; risks associated with our sales to significant retail customers, including unexpected cancellations, delays, and other changes to purchase orders; our competitive environment; our ability to adapt our products to changes in technology, the marketplace and customer preferences, including our ability to respond to shifting preferences of the end consumer from brick and mortar retail to online retail; our ability to maintain and enhance brand recognition and reputation; others’ use of social media to disseminate negative commentary about us, our products, and boycotts; the outcome of contingencies, including with respect to litigation and other proceedings relating to intellectual property, product liability, warranty liability, personal injury, and environmental remediation; our ability to comply with extensive federal, state and international laws, rules and regulations; changes in laws, rules and regulations relating to our business, such as federal and state ammunition regulations; risks associated with cybersecurity and other industrial and physical security threats; interest rate risk; changes in the current tariff structures; changes in tax rules or pronouncements; capital market volatility and the availability of financing; foreign currency exchange rates and fluctuations in those rates; general economic and business conditions in the United States and our markets outside the United States, including as a result of the war in Ukraine and the imposition of sanctions on Russia, the COVID-19 pandemic, conditions affecting employment levels, consumer confidence and spending, conditions in the retail environment, and other economic conditions affecting demand for our products and the financial health of our customers. You are cautioned not to place undue reliance on any forward-looking statements we make. A more detailed description of risk factors that may affect our operating results can be found in Part 1, Item 1A, Risk Factors, of our Annual Report on Form 10-K for fiscal year 2023 and in the filings we make with Securities and Exchange Commission (the “SEC”) from time to time. We undertake no obligation to update any forward-looking statements, except as otherwise required by law.
View source version on businesswire.com:https://www.businesswire.com/news/home/20231023562177/en/
CONTACT: Investor Contact:
Tyler Lindwall
Phone: 612-704-0147
Email:investor.relations@vistaoutdoor.comMedia Contact:
Eric Smith
Phone: 720-772-0877
Email:media.relations@vistaoutdoor.com
KEYWORD: UNITED STATES NORTH AMERICA MINNESOTA
INDUSTRY KEYWORD: LEGAL OTHER RETAIL OTHER MANUFACTURING PROFESSIONAL SERVICES CONSUMER OTHER CONSUMER MANUFACTURING RETAIL
SOURCE: Vista Outdoor Inc.
Copyright Business Wire 2023.
PUB: 10/23/2023 07:00 AM/DISC: 10/23/2023 07:00 AM
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