Compass Diversified appointed Anne Cavassa as the CEO of its subsidiary, PrimaLoft Inc., effective January 1, 2024. The announcement follows Cavassa’s recent appointment as president and as the former president and CEO, Mike Joyce steps into retirement at year-end.
Joyce, who led Primaloft for eleven years, will assume the role of vice chair on PrimaLoft’s Board of Directors.
Cavassa brings to PrimaLoft nearly three decades of experience marked by strategic leadership roles at several of America’s most esteemed outdoor and active lifestyle brands. Her previous tenure as president of Saucony, coupled with her role as senior vice president and chief customer experience officer at Brooks Sports Inc., showcases her expertise in driving growth across the footwear and apparel sectors. She has also held pivotal leadership positions at Timberland, Nike, Reebok, Tommy Bahama, and Eddie Bauer.
“Anne is a seasoned industry leader with an impressive track record of propelling strategic growth,” said Elias Sabo, CEO of Compass Diversified. “Her extensive knowledge across product design, merchandising, customer experience, and brand marketing positions her exceptionally well to lead PrimaLoft into the future. I also want to recognize and thank Mike for his significant contributions over the years and for advancing PrimaLoft’s growth and innovation while at the helm.”
When the hiring of Cavassa as president was announced on November 7, no mention was made of Joyce’s pending retirement. The release stated, “Joyce will continue to lead the company as CEO, focusing on long-term strategic activities and direction. Cavassa will assume responsibility for day-to-day operations, and the two will collaborate closely to advance the company’s growth.”
Joyce commented in Tuesday’s release, “Our company purpose is to balance the intersection of people, products, and the planet. Anne embodies these beliefs and brings extensive leadership experience from renowned active lifestyle brands. This is an ideal opportunity to bring in a proven leader to help bring PrimaLoft to the next level and, for me, she was the only choice.”
Zach Sawtelle, chairman of PrimaLoft’s Board of Directors added: “On behalf of the management team at CODI, I want to recognize Mike’s leadership in building PrimaLoft into the outstanding business it is today. I’d also like to welcome Anne to the role of CEO. As an industry veteran, she is the ideal choice to continue to build on PrimaLoft’s impressive performance, working to establish brand equity and strengthen the connection to the consumer.”
“I am thrilled to be stepping into this role, supported by the exceptional team at PrimaLoft,” said Cavassa. “It is a privilege to join a company where my values are aligned with its founder, and I am happy to continue to work with Mike in his new position on the PrimaLoft Board of Directors. I’m excited to propel PrimaLoft into its next phase of growth, building on the brand’s history of innovation, performance, and sustainability as we strengthen our connection with both our customers and with consumers.”
Photo courtesy Primaloft
