Prague-based Colt CZ Group SE announced that Radek Musil will be stepping down as chief executive officer and vice chairman of the Board of Directors of Colt CZ for personal reasons, effective September 30.
The company’s Supervisory Board has accepted his resignation.
Musil (shown right) has led Colt CZ Group since January 2025, having previously served as CEO of Sellier & Bellot for 25 years. Under his leadership, the company successfully completed the integration of Sellier & Bellot, secured a number of new international business contracts and entered the energetics segment through the acquisition of a majority stake in Synthesia Nitrocellulose. As a result, Colt CZ has “become one of the world’s leading vertically integrated manufacturers of firearms, ammunition and energetic nitrocellulose for military and law enforcement as well as commercial markets.”
The position of CEO will remain temporarily vacant until the company finds a suitable candidate. The appointment of a new CEO is expected to take place between the fourth quarter of 2026 and the first quarter of 2027.
Until the appointment of a new CEO, the Group’s executive management will be structured as follows, effective October 1. Jan Holeček, current member of the Board of Directors, will become vice-chairman of the Board of Directors and will be responsible for sales and marketing of the firearms and ammunition segments until the appointment of the new CEO. Martin Durčák will assume responsibility for the energetics segment, while current vice-chairman of the Board of Directors Josef Adam will be responsible for all other areas of the group’s management. Colt CZ said Musil is “handing over the Group with a clearly-defined management structure and an experienced executive team that will ensure management continuity until the appointment of the new CEO.”
Musil said, “Over the past two years, we have made significant progress in increasing our competitiveness. Our companies have substantially accelerated the new product development process; we welcomed new colleagues to the Group and laid the foundations for a number of projects that will further support the Group’s expansion. None of this would have been possible without the great people across our companies, whom I would like to sincerely thank for their commitment and cooperation. I strongly believe that the key companies of Colt CZ Group have the potential to become global leaders in their respective fields, and I wish them every success.”
“I would like to thank Radek, on behalf of the Supervisory Board and the shareholders of our Group, for his work and significant contribution to the development of Colt CZ Group,” said Jan Drahota, Chairman of the Supervisory Board of Colt CZ Group. “I would also like to thank Radek and his team for the major transformation and growth of Sellier & Bellot during his tenure as its CEO. I consider his strong focus on operational efficiency essential to our future competitiveness and ability to create shareholder value. He is handing over the Group in very good shape, with an experienced management team that will ensure management continuity. I wish Radek every success in the future.”
Colt CZ’s firearms and ammunition brands include Colt, CZ (Česká zbrojovka), Colt Canada, Colt Optics, Dan Wesson, Sellier & Bellot, Spuhr, swissAA, and 4M Tactical. The company is active in the production of energetic nitrocellulose through Synthesia Nitrocellulose.
Images courtesy Colt CZ
