Compass Diversified Announces Appointment of Geoffrey Feil as CEO of The Sterno Group
17 Juillet 2023 - 2:00PM
Compass Diversified (NYSE: CODI) ("CODI" or the "Company”), an
owner of leading middle market businesses, today announced that
Geoffrey Feil has been named CEO of its subsidiary The Sterno Group
Companies, LLC (“Sterno” or “The Sterno Group”), a manufacturer and
marketer of portable food warming systems, creative indoor and
outdoor lighting, and home fragrance solutions for the foodservice
industry and consumer markets. Concurrent with Mr. Feil’s
appointment, Craig Carnes assumed the new role of Chief Customer
Officer.
Mr. Feil has over 20 years of business
leadership and management experience, holding previous roles in
brand management, sales and marketing, and mergers and
acquisitions. As CEO, he will work to build upon Sterno’s 100-year
legacy and leading brand position to accelerate its sales and
marketing efforts, new product innovation, and operational
excellence across foodservice and retail end-markets.
Mr. Feil joins Sterno having previously served
as Senior Vice President and General Manager with Newell Brands
(Nasdaq: NWL), where he was responsible for leading the North
American Writing Business Unit and its portfolio of brands
including Sharpie, Elmer’s, and PaperMate. Prior to that, he worked
with Kraft Heinz (Nasdaq: KHC) for 13 years and held private equity
and investment banking roles with William Blair Capital Partners
and Goldman Sachs, respectively. Mr. Feil holds both an M.B.A. and
a B.A. from the University of Michigan.
“Geoff is a seasoned industry veteran with vast
experience leading consumer-facing brands, and we are excited to
welcome him to the team,” said Elias Sabo, CEO of CODI. “He
possesses an extensive background in managing and growing leading
consumer packaged goods brands, and his unique and broad consumer
experience, paired with his brand management experience and
strategic mindset, give us confidence in his ability to lead Sterno
in its next phase of growth. On behalf of CODI, we want to thank
Craig for his dedication and contribution to the success of Sterno
during his 15-year tenure.”
Zach Sawtelle, Chairman of Sterno’s Board of
Directors added: “We are very proud to have leaders of both Geoff
and Craig’s caliber at Sterno, and we are grateful for Craig’s
stewardship of the business, especially in the face of significant
disruptions across the foodservice industry during the COVID-19
pandemic. We believe the business remains well-positioned as this
market continues to recover, and we believe Sterno has a bright
future ahead.”
Mr. Feil commented: “I’m excited for the
opportunity to lead Sterno, which is an excellent business that
possesses a capable team, strong foundation, and category
leadership position. I look forward to contributing to the overall
strategy and working together with the Sterno and CODI teams to
unlock this brand’s full potential.”
About Compass Diversified
Since its founding in 1998, and IPO in 2006,
CODI has consistently executed on its strategy of owning and
managing a diverse set of highly defensible, middle-market
businesses across the niche industrial, branded consumer and
healthcare sectors. The Company leverages its permanent capital
base, long-term disciplined approach, and actionable expertise to
maintain controlling ownership interests in each of its
subsidiaries, maximizing its ability to impact long-term cash flow
generation and value creation. The Company provides both debt and
equity capital for its subsidiaries, contributing to their
financial and operating flexibility. CODI utilizes the cash flows
generated by its subsidiaries to invest in the long-term growth of
the Company and has consistently generated strong returns through
its culture of transparency, alignment and accountability. For more
information, please visit compassdiversified.com.
About The Sterno Group
Headquartered in Plano, TX, The Sterno Group is
the parent company of Sterno and Rimports who are the leading
manufacturers and marketers of portable food warming products,
creative indoor and outdoor lighting, and home fragrance solutions
for the foodservice industry and consumer markets. The Sterno Group
is a subsidiary of Compass Diversified (NYSE: CODI). For more
information, please visit sterno.com.
Forward Looking Statements
This press release contains certain
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, including statements
with regard to the expectations related to the future performance
of Sterno and CODI. Words such as "believes," "expects," “will,”
“anticipates,” “intends,” “continue,” "projects," “potential,”
“assuming,” and "future" or similar expressions, are intended to
identify forward-looking statements. These forward-looking
statements are subject to the inherent uncertainties in predicting
future results and conditions, some of which are not currently
known to CODI. In addition to factors previously disclosed in
CODI’s reports filed with the SEC, the following factors, among
others, could cause actual results to differ materially from
forward-looking statements: changes in the economy, financial
markets and political environment; risks associated with possible
disruption in CODI’s operations or the economy generally due to
terrorism, natural disasters, social, civil and political unrest or
the COVID-19 pandemic; future changes in laws or regulations
(including the interpretation of these laws and regulations by
regulatory authorities); general considerations associated with the
COVID-19 pandemic and its impact on the markets in which we
operate; and other considerations that may be disclosed from time
to time in CODI’s publicly disseminated documents and filings.
Further information regarding CODI and its subsidiaries and factors
which could affect the forward-looking statements contained herein
can be found in CODI’s annual reports on Form 10-K, quarterly
reports on Form 10-Q and current reports on Form 8-K.
Forward-looking statements speak only as of the date they are made.
Except as required by law, CODI undertakes no obligation to
publicly update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise.
Investor Relations
Compass Diversifiedirinquiry@compassdiversified.com
Gateway GroupCody Slach949.574.3860CODI@gateway-grp.com
Media Relations
The IGB GroupLeon Berman212.477.8438lberman@igbir.com
Compass Diversified (NYSE:CODI)
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