Compass Diversified Holdings appointed Larry Enterline as Chairman of the Board of Directors in place of C. Sean Day, who is retiring from this position. Day will continue to serve as a director on its Board.
Teri R. Shaffer was appointed to the Board effective July 2. Shaffer also was designated a member of the Board’s Audit Committee.
Enterline has served on CODI’s Board since July 2019 and as lead independent director since October 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 leadership roles at Ernst & Young since 1984.
Shaffer has a deep understanding of public company audits, accounting/ internal control matters, cybersecurity, technology, and risk management.
“These appointments further strengthen our highly qualified board,” said Day. “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 to their new roles and benefiting from their contributions.”
Elias Sabo, CEO, 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. 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.”
Compass Diversified’s holdings include 5.11, Boa Technology, Marucci Sports, and Velocity Outdoor in the active lifestyle space. Other businesses include Advanced Circuits, Arnold Magnetic Technologies, Ergobaby, Foam Fabricators, Lugano Diamonds, and Sterno.