Compass Diversified Announces Planned CEO Transition at Subsidiary Company, Altor Solutions
05 Juli 2022 - 2:30PM
Compass Diversified (NYSE: CODI) (“CODI” or the “Company”), an
owner of leading middle market businesses, today announced that
Terry Moody has been named CEO of Altor Solutions (“Altor”), a
leading designer and manufacturer of custom packaging, insulation
and componentry. Concurrent with his appointment, Mr. Moody will
join the Altor board of directors following the retirement of
current CEO James Hughes on July 11, 2022. Following his
retirement, Mr. Hughes will continue to serve as a board member and
advisor.
“Terry is a highly qualified and experienced
business leader, and we’re excited to welcome him to the CODI
family of businesses,” said Elias Sabo, CEO of Compass Diversified.
“Terry brings decades of industry experience, longstanding business
relationships, and a proven ability to execute and drive strong
operational and financial results. We’re confident in Terry’s
ability to lead Altor in its next phase of growth and we look
forward to his contributions.”
Mr. Moody has extensive executive experience
managing private, public, and private equity-backed companies.
Previously, he was President and CEO of Alpha Packaging, a leading
rigid plastic packaging company, where he drove significant growth
through organic and inorganic initiatives culminating in a sale to
Pretium Packaging. Mr. Moody has more than 20 years in
international business leadership and management roles, with
experience across operations and strategy, business development,
brand development and innovation, and M&A.
“On behalf of CODI and the Altor teams, I want
to thank James Hughes for his dedication and significant
contributions as Altor’s CEO,” said Zach Sawtelle, Partner at
Compass Diversified and Chairman of Altor’s Board. “We will
continue to benefit from James’ expertise as a valuable board
member, as Altor remains well-positioned for growth and value
creation.”
“It has been an honor to serve as the CEO of
Altor, and I am proud of our team’s success during my tenure,” said
Mr. Hughes. “I look forward to continuing my stewardship of the
company at the board level and am excited about Altor’s bright
future ahead under Terry’s leadership.”
Mr. Moody added, “Altor has experienced
tremendous growth during James’ time as CEO, and I’m eager to
continue building on the solid foundation that has already been put
in place in building an industry leading protective packaging and
cold chain solutions provider.”
About Compass Diversified
Since its founding in 1998, CODI has
consistently executed on its strategy of owning and managing a
diverse set of highly defensible, middle-market businesses across
the niche industrial and branded consumer 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 Altor Solutions
Headquartered in Scottsdale, AZ, Altor Solutions
is a dynamic, engineering-driven company whose goal is to design
and produce superior products that help customers solve their needs
for Packaging, Insulation and Componentry (PIC). The company offers
a wide range of materials from traditional plastics to organic and
plant-based options. Founded in 1957, the company operates 19
state-of-the-art facilities across North America specializing in
the production and assembly of key components utilized in
protective packaging, OEM componentry and temperature-controlled
containers. For more information, please
visit www.altorsolutions.com.
Investor Relations
Gateway GroupCody Slach949.574.3860CODI@gatewayir.com
Media Relations
The IGB GroupLeon Berman212.477.8438lberman@igbir.com
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