Compass Diversified (CODI), the parent of BOA, Primaloft, 5.11 and Velocity Outdoor, announced that James Bottiglieri retired from the board, effective December 31.
Bottiglieri notified CODI’s trust and the Board of Directors on February 14, 2025, that he would be retiring from the company’s Board and would not stand for re-election as a director at CODI’s 2025 Annual Meeting of Shareholders, originally scheduled to be held on May 29, 2025.
As the 2025 Annual Meeting was not held due to challenges CODI faced related to accounting irregularities at its Lugano Holdings subsidiary, Bottiglieri notified his intent to resign as a director of the company, effective December 31, 2025.
Neither Bottiglieri’s previously disclosed decision to retire from the Board and not to stand for re-election nor his present resignation was reported because of any disagreement with CODI or the Board regarding the company’s operations, policies or practices.
CODI’s Lugano subsidiary filed for bankruptcy in November 2025. On December 8, 2025, the owner of middle-market branded consumer and industrial businesses said it had completed the restatement process tied to the accounting irregularities at Lugano and filed its restated financial results for fiscal years 2022, 2023 and 2024.
After suspending its financial reporting due to irregularities, it filed its first- and second-quarter results in December and is expected to post its third-quarter results soon.
CODI’s other subsidiaries include The Honey Pot (THP) in its consumer group and Altor, Arnold and Sterno in its industrial segment.
Image courtesy CODI
