Compass Diversified Holdings Announces Changes to its Board of Directors; Long-Standing Director C. Sean Day Retires
05 Juillet 2023 - 10:15PM
Compass Diversified Holdings (NYSE: CODI), an owner of leading
middle market businesses, announced today that Mr. C. Sean Day
retired from the Board of Directors (the “Board”) of Compass Group
Diversified Holdings LLC (together with CODI, the “Company”),
effective as of June 30, 2023, for personal health reasons. Mr. Day
joined the Board in 2006, concurrent with CODI’s initial public
offering, and served as Board Chair until July of 2022.
“Sean has played an integral role at CODI and for
our stakeholders over the past 17 years. His insightful, thoughtful
and steady leadership was invaluable, especially as we transformed
our subsidiaries towards higher growth, increased size, value and
complexity,” said Elias Sabo, CEO. “On behalf of the Board and all
of our employees, we want to thank him for his years of dedicated
service to the Company. It has been an honor to work with such a
tremendous professional. He has been instrumental in positioning
the Company for sustained future success.”
“Serving CODI as a director and as Board Chair has
been an honor,” said Mr. Day. “I am grateful to the organization’s
executives, employees and my fellow Board members, past and
present, for the meaningful collaboration and shared commitment to
the Company’s success. I am excited about the future of CODI as I
believe it remains well-positioned to continue executing on its
strategy under outstanding leadership.”
The Board has elected a new director, Ms. Heidi
Locke Simon, to fill the vacancy following the departure of Mr.
Day. Ms. Locke Simon’s service commenced on July 5, 2023, and will
serve as a director until the next election of directors at the
Company’s annual shareholders’ meeting in fiscal year 2024. Ms.
Locke Simon has been designated as a member of the Board’s Audit
Committee.
From 1993 to 2012, Locke Simon was a partner at
Bain & Company, a global management consulting organization,
where she was a founding member of the firm’s private equity
practice. Prior to her service at Bain & Company, she was an
Investment Banking Analyst at Goldman, Sachs & Co. She has also
served as a director of Teekay Corporation (NYSE: TK) since 2017
and holds an MBA from Harvard Business School.
Larry Enterline, Board Chair, added: “We are
delighted to welcome Heidi to our Board. Her extensive and
complementary expertise in management consulting and investment
banking will be a valuable addition to our Board. The Board’s
refreshment efforts over the past three years reflect CODI's
continued commitment to a strong, independent Board comprised of
individuals with diverse backgrounds, expertise and skillsets that
align with the Company's strategic priorities.”
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.
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 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 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
Teekay (NYSE:TK)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024
Teekay (NYSE:TK)
Graphique Historique de l'Action
De Juin 2023 à Juin 2024