Solo Brands CFO Somer Webb notified the company of her intent to pursue other opportunities. She will reportedly remain with the company until December 10. The company also reaffirmed its guidance for fiscal year 2023.
The company has engaged an executive search firm to assist in identifying her successor.
The company also announced Andrea Tarbox will assume the role of interim CFO beginning on December 10. Tarbox serves on the board of directors of Solo Brands and chairs the audit committee. Tarbox brings extensive experience in the CFO role. Her 20 years of service in various CFO roles includes 12 years at KapStone Paper and Packaging, Inc., where she helped lead KapStone’s sale to WestRock Company in 2018. Upon assuming the interim CFO position, Tarbox will step down temporarily from her role as chair of the audit committee.
“We appreciate Somer’s contributions to our organization and wish her well in her future endeavors. We are fortunate to have Ms. Tarbox in our organization. She is an experienced financial executive whose knowledge of the Company will enable her to successfully lead our financial function through this interim period,” said John Merris, chief executive officer.
Webb said, “I want to thank the Board and the leadership team for the time at Solo Brands and I wish the team continued success.”
The company reaffirmed its guidance and continues to expect revenue for the full fiscal year of 2023 in the range of $520 milloin to $540 million, with the most likely outcome at the midpoint of the range at $530 million, and adjusted EBITDA margin in the range of 17 percent to 18 percent.
The company plans to report its third quarter 2023 financial results on November 7, 2023, before the market opens.
The company’s brands include Solo Stove, Chubbies, Oru Kayak, ISLE, and Icy Breeze.
