Vista Outdoor Inc. (NYSE: VSTO), a global leader in designing, manufacturing, and marketing of sporting and outdoor lifestyle products, announced today key executive appointments for its spinoff entity, the Sporting Products Company.
In a strategic move toward strengthening the new company’s leadership structure, Vista’s Board of Directors has appointed Andy Keegan, formerly vice president and interim CFO for Vista Outdoor, as the chief financial officer for the Sporting Products Company. Likewise, Jeff Ehrich, previously serving as interim general counsel and corporate secretary for Vista Outdoor, has been appointed to the same role in the Sporting Products Company.
Both Keegan and Ehrich will formally assume their positions following the planned separation in the fourth quarter of calendar year 2023.
Andy Keegan, a seasoned finance executive with more than 15 years of experience, has been with Vista Outdoor since its inception, serving in key roles in finance, accounting and treasury. Keegan brings a wealth of industry experience and strategic financial acumen, which will be instrumental in leading the Sporting Products Company’s financial team.
“I have served Vista Outdoor and its ammunition business since their inception eight years ago, and I’m grateful for the opportunity to lead the Sporting Products Company’s financial team as we begin this new chapter,” Keegan commented. “The standalone ammunition company that will soon arise from our planned separation will continue to be the industry’s gold standard and I’m proud to work as CFO on behalf of our employees, customers and shareholders.”
Jeff Ehrich has a comprehensive background in legal affairs with over a decade of service to Vista Outdoor and its predecessor, Alliant Techsystems Inc. His expertise in corporate law will play a pivotal role in shaping the legal landscape of the Sporting Products Company.
The addition of Keegan and Ehrich to the executive team, alongside Jason Vanderbrink, president and CEO of the Sporting Products segment, lays a strong foundation for the Sporting Products Company. Vanderbrink, who will also serve on the Sporting Products Company’s board post-spin, expressed confidence in the new leadership team.
Upon completion of the spinoff, the Sporting Products Company will retain its position as the world’s leading manufacturer of ammunition. Its iconic brands are celebrated worldwide by hunting enthusiasts, recreational shooters, and law enforcement agencies. The company’s capital allocation strategy will focus on using its robust cash flow for returning capital to shareholders.
On May 5, 2022, Vista Outdoor announced its intention to separate its Outdoor Products and Sporting Products segments into two independent, publicly traded companies through a tax-free spinoff to its shareholders. The company is on track to execute the separation in calendar 2023.