Compass Diversified Holdings Announces New Board of Director Appointments
06 Juli 2022 - 10:15PM
Compass Diversified Holdings (NYSE: CODI) (“CODI” or the
“Company”), an owner of leading middle market businesses, announced
that, effective July 2, 2022, Mr. Larry L. Enterline has been
appointed Chairman of the Board of Directors (the “Board”) in place
of Mr. C. Sean Day, who is retiring from this position as of the
same date. Day will continue to serve as a director.
In addition, Ms. Teri R. Shaffer has been
appointed to the Board, effective July 2, 2022. Shaffer has also
been designated as a member of the Board’s Audit Committee.
Enterline has served on CODI’s Board since July
of 2019 and as Lead Independent Director since October of 2021.
Shaffer has more than 38 years of finance and
accounting experience. She served as the Americas and Regional
Financial Audit IT Leader for Ernst & Young from 2016 through
her recent retirement on July 1, 2022, and served in various other
leadership roles at Ernst & Young since 1984. Shaffer has a
deep understanding of public company audit, accounting and internal
control matters, as well as cybersecurity, technology and risk
management experience. She earned a bachelor’s degree from Oklahoma
State University and is a Certified Public Accountant and Certified
Information Security Manager. With a continued commitment to
learning, she is currently completing her EY Tech MBA with Hult
International Business School.
“These appointments further strengthen our
highly qualified board,” said Sean Day, Chairman of CODI. “Larry is
a natural choice to assume the role of Chairman given his intimate
knowledge of our business and outstanding executive leadership
skills. In addition, Teri brings significant finance, accounting,
cybersecurity and risk management expertise to our Company. We look
forward to welcoming Larry and Teri in their new roles and
benefiting from their contributions.”
Elias Sabo, CEO of Compass Diversified, added:
“We’re pleased to appoint a proven leader like Larry to the role of
Chairman and welcome an outstanding executive like Teri to our
Board and CODI family. Larry’s intimate knowledge of our businesses
and prior experience as Executive Chairman of Fox Factory Corp.
positions him well to be an excellent strategic leader, and Teri’s
deep understanding of finance, accounting and public company audit
matters will be highly additive to our Board. Finally, we would
also like to take this opportunity to recognize the many years of
Sean’s distinguished service as Chairman. He has been an
extraordinary leader, mentor and colleague since our organization’s
IPO in 2006. We look forward to his continued input and
contributions to our Company in his director role.”
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.
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@gatewayir.com
Media Relations
The IGB GroupLeon Berman212.477.8438lberman@igbir.com
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