The Sportsman's Guide, Inc. announced that Ronald G. Olson has been elected to the Company's board of directors at the annual meeting held May 6, 2005.
Olson, 64, has been the Chairman and CEO of D. Ventures, Inc., which operates Clean 'n Press stores in the Minneapolis area since 1990. In 1986 he co-founded Grow Biz International, Inc., a franchisor of value-oriented retail concepts that buy, sell, trade and consign merchandise under the store brands Play It Again Sports, Once Upon A Child, Plato's Closet and Music Go Round. Olson served as President and CEO of Grow Biz from 1990 to 1999 and Vice Chairman from 1999 to 2000. He also serves on the Board of Trustees of North Dakota State University, Fargo.
It was also announced that the board has authorized management to purchase up to 10% of the Company's common stock over the next twelve months in the open market or in privately negotiated transactions. This is the third consecutive year that the board has authorized management to repurchase the Company's shares.
Additionally, the Company announced that its board, pursuant to the request of management, withdrew the 2005 Stock Incentive Plan from the Company's annual meeting ballot. The withdrawal means that the plan will not be considered nor implemented at this time.