Compass Diversified Holdings, the equity owner of Fox Racing Shox and Liberty Safe, announced that Joe Massoud, its chief executive officer, has requested, and the Board has approved, a leave of absence to focus his attention on an informal regulatory inquiry that Massoud has received on matters unrelated to CODI.
CODI also announced that its manager, Compass Group Management LLC, has nominated, and that its Board has approved, Alan Offenberg to assume the role of CEO on an interim basis, as well as Massoud's seat on the Company's Board of Directors.
Commenting on the transition, Mr. Offenberg said, “I am honored to be able to serve CODI's shareholders in this capacity. Joe will continue to be available to us during his leave and we are all very excited about the many opportunities the Company has to build value for our owners.”
Offenberg has been a partner with CGM and its predecessor since 1998. Prior to that, Offenberg was with Trigen Energy, Creditanstalt Bankverein and GE Capital. Offenberg is currently a director and chair of American Furniture Manufacturing, Inc. and Liberty Safe and Security Products, Inc.
Compass Diversified Holdings owns and manages a diverse family of established North American middle market businesses. Its eight subsidiaries include: Advanced Circuits, American Furniture Manufacturing, Tridien Medical,
ERGObaby, Fox Racing Shox, Halo Lee Wayne, Liberty Safe and Staffmark.
