SALT LAKE CITY, Sept. 27, 2016 (GLOBE NEWSWIRE) -- Black Diamond Equipment, Ltd. a global innovator in climbing, skiing, mountain sports equipment and apparel, and a subsidiary of Black Diamond, Inc. (NASDAQ: BDE ) (the “Company”), has appointed John Walbrecht as President, effective October 3, 2016.
Walbrecht brings more than 30 years of executive leadership experience from several strong active outdoor brands. Most recently he served as President and CEO of Mountain Hardwear, a manufacturer of high-tech active outdoor clothing, equipment and camping accessories and a subsidiary of Columbia Sportswear. Prior to his role with Mountain Hardwear, Walbrecht served as President and CEO of Fenix Outdoor, an international group of outdoor clothing and equipment brands. He has also served in senior leadership roles at Spyder Active Sports, Timberland, and Dr. Martens, among others.
Black Diamond Executive Chairman Warren B. Kanders commented: “John is a seasoned industry veteran who brings a wealth of experience and leadership in the outdoor equipment and apparel space. Over the course of his 30-plus year career, he has provided the strategic vision to improve brand equity and drive growth for some of the industry’s most reputable and dynamic companies. Given his strong background, we look forward to leveraging his expertise and enthusiasm as we continue to grow Black Diamond Equipment. I would like to thank Mark Ritchie, our outgoing President of Black Diamond Equipment for his dedication and years of service. Mark will be assisting John in his transition and working with the team in additional ways in the future.”
Walbrecht holds a Master of Business Administration and a Bachelor of Science in Economics from Brigham Young University, a Bachelor of Arts in Marketing from the University of Maryland and understudies in International Trade and Finance at Cambridge University - Trinity College.
“It is truly an honor to be joining the Black Diamond team,” said Walbrecht. “Black Diamond is an amazing brand with a strong culture in both the outdoor and climbing communities and prides itself on delivering technical precision in everything it does. Black Diamond has a very bright future and I am excited to be a part of it.”
About Black Diamond Equipment, Ltd.
Black Diamond Equipment, Ltd. is a global leader in designing, manufacturing and marketing innovative active outdoor performance equipment and apparel for climbing, mountaineering, backpacking, skiing and a wide range of other year-round outdoor recreation activities. Our principal brands, Black Diamond® and PIEPS™, are iconic in the active outdoor and ski industries, and linked intrinsically with the modern history of these sports. Black Diamond Equipment is synonymous with performance, innovation, durability and safety that the outdoor and action sport communities rely on and embrace in their active lifestyle. Headquartered in Salt Lake City at the base of the Wasatch Mountains, our products are created and tested on some of the best alpine peaks, slopes, crags, and trails in the world. These close connections to the Black Diamond Equipment lifestyle enhance the authenticity of our brands, inspire product innovation and strengthen customer loyalty. Black Diamond Equipment's products are sold in approximately 50 countries around the world. For additional information, please visit our website at www.blackdiamondequipment.com or www.pieps.com .
About Black Diamond, Inc.
Black Diamond, Inc. (“Black Diamond”) is a publicly-traded (NASDAQ: BDE ) holding company which seeks opportunities to acquire and grow businesses that can generate durable free cash flows and attractive returns. Black Diamond has substantial cash balances and net operating tax loss carryforwards which will be redeployed to maximize shareholder value in a diverse array of businesses. Currently, Black Diamond Equipment, Ltd. is its only operating subsidiary. Black Diamond Equipment, Ltd. is a manufacturer of active outdoor equipment and clothing for the climbing, skiing and mountain sports markets. For additional information, please visit our corporate website at www.blackdiamond-inc.com .
Forward-Looking Statements
Please note that in this press release we may use words such as “appears,” “anticipates,” “believes,” “plans,” “expects,” “intends,” “future,” and similar expressions which constitute forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are made based on our expectations and beliefs concerning future events impacting the Company and therefore involve a number of risks and uncertainties. We caution that forward-looking statements are not guarantees and that actual results could differ materially from those expressed or implied in the forward-looking statements. Potential risks and uncertainties that could cause the actual results of operations or financial condition of the Company to differ materially from those expressed or implied by forward-looking statements in this release include, but are not limited to, the overall level of consumer spending on our products; general economic conditions and other factors affecting consumer confidence; disruption and volatility in the global capital and credit markets; the financial strength of the Company's customers; the Company's ability to implement its reformation and growth strategy, including its ability to organically grow each of its historical product lines, the ability of the Company to identify potential acquisition or investment opportunities as part of its redeployment and diversification strategy; the Company’s ability to successfully redeploy its capital into diversifying assets or that any such redeployment will result in the Company’s future profitability; the Company’s exposure to product liability or product warranty claims and other loss contingencies; stability of the Company's manufacturing facilities and foreign suppliers; the Company's ability to protect patents, trademarks and other intellectual property rights; fluctuations in the price, availability and quality of raw materials and contracted products as well as foreign currency fluctuations; our ability to utilize our net operating loss carryforwards; and legal, regulatory, political and economic risks in international markets. More information on potential factors that could affect the Company's financial results is included from time to time in the Company's public reports filed with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. All forward-looking statements included in this press release are based upon information available to the Company as of the date of this press release, and speak only as of the date hereof. We assume no obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release.
Company Contact: Warren B. Kanders Executive Chairman Tel 1-203-552-9600 warren.kanders@bdel.com or Aaron Kuehne CAO & CFO Tel 1-801-993-1364 aaron.kuehne@bdel.com Investor Relations: Liolios Cody Slach Tel 1-949-574-3860 BDE@liolios.com
