Equip Outdoor Technologies UK Ltd. (Equip), the parent company of Rab and Lowe Alpine, announced that its owner and CEO, Matt Gowar, is stepping down—an executive recruitment plan to find his successor is underway.
Equip said, “Twelve years after buying Lowe Alpine, twenty years after buying Rab, and thirty years after importing his first glove range into the UK, Matt Gowar, CEO and owner of Equip Outdoor Technologies (UK) Ltd, has decided that it’s time to bring new experience and leadership to strengthen the Board by appointing a new CEO.”
Equip reported experiencing “significant growth, which has been most evident in the last few years, with sales reaching £120 million ($151 million) in FY23.” The global business now operates through 26 manufacturing partners in Asia while retaining a UK manufacturing site plus sales offices in eight countries across North America and Europe.
Equip announced that its board had approved its next five-year strategic plan. The company committed to increasing sales, furthering its leadership in CSR, and expanding its share in core markets. Equip also stated that Gowar would continue to oversee certain aspects as the business owner.
Equip said, “Matt will remain active within the business, retaining executive responsibility at the Equip Board level for his areas of specialty and passion, including CSR, supplier sourcing, and supporting the development in North America. But, after 30 years in the industry, traveling extensively for business and building successful brands, Matt wants to spend more time doing the things he loves: time on his bikes, traveling for pleasure and being with his family.”
Equip expects to announce Gowar’s replacement in 2024.
Gowar said, “The last few years have seen extraordinary pressures for the outdoor industry and supply chains. We have worked hard to grow Equip and our brands and achieved significant business milestones along the way. Knowing that the business is in such a strong position, I look forward to finding someone who can step into the CEO role to bring new experience and leadership to our existing Board and lead Equip to achieve the next five-year strategic plan. This will allow me to concentrate on the areas of the business I have the most expertise and also free up my time to do the things I have missed out on whilst building the business; time with my family and my personal interests. I plan to retain ownership of Equip as we keep to our current strategy.”
Photo courtesy Equip Outdoor Technologies UK Ltd.