Cabela’s Incorporated announced the long-planned transition of its co-founder and Chairman, Richard N. Cabela, to the role of chairman emeritus, effective June 5, 2013, the date of Cabelas 2013 annual shareholders meeting. His brother, James W. Cabela, Cabelas vice chairman and co-founder, will become chairman following the meeting.

Dick Cabela is a legend at Cabelas as well as throughout the entire outdoor industry, said Tommy Millner, Cabelas CEO. From their kitchen table in Chappell, Nebraska, 52 years ago to pioneering direct catalog marketing and experiential retailing, Dick and his wife, Mary, revolutionized every aspect of outdoor product sales. Dicks passion for the outdoors transformed Cabelas from a small company in western Nebraska to a $3.1 billion globally recognized brand.

We are particularly pleased our long-term succession plans once again worked, Millner said. This has been a key focus over the past four years for our management team and board of directors at every level of leadership within the organization.

Dicks enduring legacy continues, and I look forward to continuing to learn from Dicks wise counsel and advice in his new role as chairman emeritus, Millner said. On behalf of Cabelas employees, shareholders and customers, I would like to thank Dick and Mary Cabela for their passion for the outdoors and vision and business acumen, which led to the founding of this extraordinary Company. Dick, Mary and Jim werent the first to offer outdoor goods through the mail, but nobody did it better or with a greater focus on customer service. This passion for delivering legendary customer service will forever be Cabelas foundation.

As we look toward the future, we are very pleased to have our co-founder, Jim Cabela, become Chairman, Millner said. Jims leadership has been a powerful force in building our Company over the last five decades. Jims passion for the outdoors and his role as our new Chairman will ensure we remain focused during this exciting growth period.