COLUMBIA SPORTSWEAR COMPANY (NASDAQ:COLM) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
ITEM5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF
DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY
ARRANGEMENTS OF CERTAIN OFFICERS.
On June6, 2017, in connection with the organizational assessment
launched in the first quarter of 2017, Columbia Sportswear
Company (Columbia) filed a press release announcing a strategic
realignment resulting in several changes at the senior management
level.
Chief Executive Officer Timothy P. Boyle assumed the additional
role of President of Columbia, effective June2, 2017. Mr.Boyle
joined Columbia in 1971 as General Manager, served as Columbias
President from 1988 to 2015 and has served as Chief Executive
Officer since 1988. He has been a member of the Board of
Directors since 1978. Mr.Boyle is also a member of the Board of
Directors of Northwest Natural Gas Company and Craft Brew
Alliance, Inc. Mr.Boyle is Gertrude Boyles son, Sarah A. Banys
brother and Joseph P. Boyles father.
Thomas Cusick was named Executive Vice President and Chief
Operating Officer, effective July1, 2017. Mr.Cusick will continue
to act as Chief Financial Officer and Treasurer until a
replacement is appointed. Mr.Cusick joined Columbia in September
2002 as Corporate Controller, was named Vice President and
Corporate Controller in March 2006 and was named Vice President
and Chief Accounting Officer in May 2008. He was promoted to Vice
President, Chief Financial Officer and Treasurer in January 2009,
was named Senior Vice President of Finance, Chief Financial
Officer and Treasurer in January 2010, Executive Vice President
of Finance and Chief Financial Officer in February 2015, and
reassumed the added role of Treasurer in March 2016. From 1995 to
2002, Mr.Cusick worked for Cadence Design Systems (and OrCAD, a
company acquired by Cadence in 1999), which operates in the
electronic design automation industry, in various financial
management positions. From 1990 to 1995, Mr.Cusick was an
accountant with KPMG LLP. Mr.Cusick is a member of the board of
directors of Barrett Business Services, Inc. Mr.Cusick is a
certified public accountant.
Each of the above executive officers will continue to participate
in the same compensation programs as in their prior roles.
| ITEM9.01 | FINANCIAL STATEMENTS AND EXHIBITS. |
(d) Exhibits
| 99.1 | Press Release dated June6, 2017. |
About COLUMBIA SPORTSWEAR COMPANY (NASDAQ:COLM)
Columbia Sportswear Company is an apparel and footwear company. The Company designs, sources, markets and distributes outdoor and active lifestyle apparel, footwear, accessories and equipment under the Columbia, Mountain Hardwear, Sorel, prAna and other brands. The Company’s geographic segments are the United States, Latin America and Asia Pacific (LAAP), the Europe, Middle East and Africa (EMEA), and Canada. The Company develops and manages its merchandise in categories, including apparel, accessories and equipment, and footwear. Its apparel, accessories and equipment are designed to be used in various outdoor activities, such as skiing, snowboarding, hiking, climbing, mountaineering, camping, hunting, fishing, trail running, water sports and adventure travel. The Company’s footwear products include hiking boots, trail running shoes, rugged cold weather boots, sandals and casual shoes. Its products are sold in approximately 100 countries.
