Gregg Hammann is stepping down from his position as president and chief executive officer of Nautilus, Inc., as well as resigning his seat on the company's board, effective immediately. Robert S. Falcone, the company's current lead independent director, will serve as chairman and will also fill the role of president and chief executive officer on an interim basis, effective immediately.
Mr. Falcone said, “On behalf of the board of directors, we want to thank Gregg for the hard work and dedication that he has shown Nautilus over the past four years. Under his leadership, the company has meaningfully improved its operations and positioned the company as the premier fitness equipment company in the world. We appreciate all of his efforts and wish Gregg every success in the future.”
“I have enjoyed the opportunity to lead this great company over the past four years. It has been a pleasure to work with such talented people throughout the organization,” said Mr. Hammann. “Nautilus is a company with tremendous potential and I wish all the employees continued success in the years ahead.”
The independent directors have formed a search committee and will begin the search for a new chief executive officer.
“I look forward to serving our employees, customers and shareholders as interim CEO,” said Mr. Falcone. “During this important transition period for our company, the board of directors and I are committed to working with our employees to enhance our position as a leader in the strength and fitness industry and charting a course for the future that will deliver strong returns for our shareholders.”
Mr. Falcone brings more than 33 years of management and board experience to Nautilus, Inc. He is President and Chief Executive Officer of GCR Custom Research, served as Chief Financial Officer of Nike, Inc., and was a partner of Price Waterhouse LLP. He is a board member and former audit committee chairman of RadioShack Corporation.
