Ronald Fleming Appointed Interim CEO and Director
John North Stepping Down as CEO and Director
TAMPA,
Fla., Sept. 16, 2024 /PRNewswire/ -- Lazydays
Holdings, Inc. ("Lazydays" or the "Company") (NasdaqCM: GORV) today
announced that Ronald Fleming assumed the role of Interim CEO
and joined the Board of Directors (the "Board") on September
14, 2024. John North stepped down as
CEO and member of the Board on September 13,
2024.
Robert DeVincenzi, Chairman of
the Board said, "On behalf of the Board of Directors, I thank John
for his contributions to the Company during his service as CEO. We
wish him all the best in the future."
Mr. DeVincenzi continued, "We're thrilled Ron is rejoining the
organization to lead Lazydays out of the current downturn and
return the Company to growth. Ron has over four decades of
operational experience in the RV industry, including as an
owner-operator of a successful dealership group, and as a senior
executive at Lazydays responsible for overseeing dealership
operations. Ron appreciates the critical role of developing and
supporting talent throughout the organization, and he's eager to
work with other members of the leadership team to develop and
support our employees. The Board looks forward to partnering with
Ron as he works to improve performance and capitalize on our
expanded national footprint."
Mr. Fleming said, "I am honored to return to Lazydays in the
role of Interim CEO. As a prior 11-year executive at the Company,
and a previous owner-operator of a dealership group, I have
navigated many RV industry cycles. I've always considered Lazydays
the Yankees of the RV industry – a team with a storied history and
iconic brand – and I'm excited to work with my colleagues to build
on the tradition of delivering an unparalleled customer experience.
Lazydays has strong, multi-decade partnerships with our OEMs,
industry-leading dealerships and a talented roster of employees,
and I look forward to building on this foundation with a focus on
creating value for all stakeholders."
Mr. Fleming has been a leader in the RV industry for more than
40 years. Mr. Fleming served the Company most recently as Senior
Vice President of Operations, overseeing operations at Lazydays
until August 2023. Mr. Fleming joined
Lazydays in 2013 and served as General Manager of the Company's
flagship Tampa dealership until
his promotion to Vice President and National General Manager
overseeing all Lazydays locations. Mr. Fleming was a key
member of the senior leadership team that successfully led the
Company through a transaction to become a public company in 2018,
and the acquisition and growth of over 20 locations. Prior to
joining Lazydays, Mr. Fleming owned and operated Travel Country RV
Center for 15 years until the successful sale of the business in
2012.
In connection with Mr. Fleming's new roles with the Company, he
will receive a stock option to purchase 1,500,000 shares of the
Company's Common Stock at a purchase price per share of
$2.00, subject to vesting conditions.
The stock option will be issued outside of the Company's 2018 Long
Term Incentive Plan and is intended to qualify as an inducement
grant under NASDAQ Listing Rule 5635(c)(4).
ABOUT LAZYDAYS RV
Lazydays has been a prominent player in the RV industry since
our inception in 1976, earning a stellar reputation for delivering
exceptional RV sales, service, and ownership experiences. Our
commitment to excellence has led to enduring relationships with
RVers and their families who rely on us for all of their RV
needs.
Our wide selection of RV brands from top manufacturers,
state-of-the-art service facilities, and an extensive range of
accessories and parts ensure that Lazydays is the go-to destination
for RV enthusiasts seeking everything they need for their journeys
on the road. Whether you're a seasoned RVer or just starting your
adventure, our dedicated team is here to provide outstanding
support and guidance, making your RV lifestyle truly
extraordinary.
Lazydays is a publicly listed company on the Nasdaq stock
exchange under the ticker "GORV."
Forward-Looking Statements
This press release includes "forward-looking statements" within the
meaning of the "Safe-Harbor" provisions of the Private Securities
Litigation Reform Act of 1995. Forward looking statements include
statements regarding our goals, plans, projections and guidance
regarding our financial position, results of operations, market
position, pending and potential future financing transactions and
business strategy, and often contain words such as "project,"
"outlook," "expect," "anticipate," "intend," "plan," "believe,"
"estimate," "may," "seek," "would," "should," "likely," "goal,"
"strategy," "future," "maintain," "continue," "remain," "target" or
"will" and similar references to future periods. Examples of
forward-looking statements in this press release include, among
others, statements regarding our new Interim Chief Executive
Officer and our ability to navigate the current and future
macroeconomic environments.
By their nature, forward-looking statements involve risks and
uncertainties because they relate to events that depend on
circumstances that may or may not occur in the future.
Forward-looking statements are not guarantees of future
performance, and our actual results of operations, financial
condition and liquidity and development of the industry in which we
operate may differ materially from those made in or suggested by
the forward-looking statements in this press release. The risks and
uncertainties that could cause actual results to differ materially
from estimated or projected results include, without limitation,
future economic and financial conditions (both nationally and
locally), changes in customer demand, our relationship with, and
the financial and operational stability of, vehicle manufacturers
and other suppliers, risks associated with our indebtedness
(including our ability to obtain further waivers or amendments to
credit agreements, the actions or inactions of our lenders,
available borrowing capacity, our compliance with financial
covenants and our ability to refinance or repay indebtedness on
terms acceptable to us), acts of God or other incidents which may
adversely impact our operations and financial performance,
government regulations, legislation and others set forth throughout
under the headers "Management's Discussion and Analysis of
Financial Condition and Results of Operations" and "Risk Factors"
and in the notes to our financial statements, in our most recent
Quarterly Report on Form 10-Q, Annual Report on Form 10-K and from
time to time in our other filings with the Securities and Exchange
Commission. We urge you to carefully consider this information and
not place undue reliance on forward-looking statements. We
undertake no duty to update our forward-looking statements,
including our earnings outlook, which are made as of the date of
this release.
Contact:
investors@lazydays.com
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SOURCE Lazydays