As part of its previously announced plan to split things up, Vista Outdoor Inc. parent company of Fox Racing and Bell Helmets, is bringing in former Hasbro Toy exec Eric Nyman to take over as CEO of the company’s Outdoor Products segment and take a seat on the board, effective Aug. 21.
“I am honored 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.” His focus will be on improving shareholder value.
“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, who has more than 30 years in the consumer products industry, joins Vista Outdoor from Hasbro Inc., where he most recently served as president and COO. At Hasbro, he was responsible for all aspects of Hasbro’s business, including e-commerce, operations, media and marketing. Prior to Hasbro, Nyman was 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.
Update On Outdoor Products Company
On May 5, 2022, Vista Outdoor announced that the company plans to separate its Outdoor Products and Sporting Products segments into two independent, publicly traded companies. The company expects to create these companies through a tax-free spin-off of its Outdoor Products segment to Vista Outdoor shareholders. 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.
With its portfolio of well-known brands, deep customer relationships, operational expertise and shared financial resources, Outdoor Products will be a leading provider of innovative products for outdoor enthusiasts around the globe. Outdoor Products will serve consumers in a diverse and fast-growing set of categories with more than 168 million outdoor recreation participants, and growing.
Outdoor Products will be led by Nyman and a dedicated management team that he will hire in the coming months. The new company will be better positioned to focus on capturing value in distribution channels, supply chain management and logistics. Outdoor Products’ capital allocation strategy will prioritize growth through the strategic acquisition of complementary outdoor businesses, opportunistic share repurchases, as well as reinvestment in organic growth through new product development, marketing and expanded e-commerce and international sales.