Compass Diversified, owner of Velocity Outdoor, BOA, Marucci, Primaloft, 5.11, and other businesses in the active lifestyle space, announced that C. Sean Day had retired from its Board of Directors, effective June 30, for personal health reasons. Heidi Locke Simon, a former partner at Bain & Company, replaced Day.
Day joined the Board in 2006, concurrent with the company’s initial public offering, and served as Board Chair until July 2022.
“Sean has played an integral role at CODI and for our stakeholders over the past 17 years. His insightful, thoughtful and steady leadership was invaluable, especially as we transformed our subsidiaries towards higher growth, increased size, value and complexity,” said Elias Sabo, CEO. “On behalf of the Board and all of our employees, we want to thank him for his years of dedicated service to the company. It has been an honor to work with such a tremendous professional. He has been instrumental in positioning the company for sustained future success.”
“Serving CODI as a director and as Board Chair has been an honor,” said Day. “I am grateful to the organization’s executives, employees and my fellow Board members, past and present, for the meaningful collaboration and shared commitment to the company’s success. I am excited about the future of CODI as I believe it remains well-positioned to continue executing on its strategy under outstanding leadership.”
Locke Simon, who fills Day’s position on the Board, commenced her role on July 5, 2023, and will serve as a director until the next election of directors at the CODI’s annual shareholders’ meeting in fiscal year 2024. Locke Simon is a member of the Board’s Audit Committee.
From 1993 to 2012, Locke Simon was a partner at Bain & Company, the consulting organization, where she was a founding member of the firm’s private equity practice. Before Bain & Company, she was an investment banking analyst at Goldman, Sachs & Co. She also worked as a director of Teekay Corp. since 2017.
Larry Enterline, CODI’s Board Chair, added: “We are delighted to welcome Heidi to our Board. Her extensive and complementary expertise in management consulting and investment banking will be a valuable addition to our Board. The Board’s refreshment efforts over the past three years reflect CODI’s continued commitment to a strong, independent Board comprised of individuals with diverse backgrounds, expertise and skillsets that align with the company’s strategic priorities.”
