Vista Outdoor, Inc. announced that after two and a half years in his role, Sudhanshu Priyadarshi, the company’s chief financial officer, has decided to pursue another opportunity and is leaving his position in November. Keurig Dr Pepper in a separate statement said Priyadarshi is joining the company as CFO. 

Priyadarshi will continue to fulfill his duties as CFO at Vista until his departure, including releasing the company’s Q2 FY23 financial results.

The company has launched a formal search for a permanent successor. Until then, Andrew Keegan, vice president, Finance and Treasury, has been named interim CFO. 

Keegan brings over ten years of experience at Vista Outdoor and over 15 years of experience in finance, accounting and treasury. He has held increasing roles of responsibility, including vice president, Corporate Accounting and External Reporting and CFO of the company’s sporting products segment before his current role. 

Prior to Vista Outdoor, Keegan worked at Deloitte.

Chris Metz, CEO, said, “On behalf of our Board of Directors and everyone at Vista Outdoor, I want to thank Sudhanshu for his significant contributions and disciplined financial leadership. I am personally thrilled for him as this represents the exact right next opportunity for Sudhanshu. We wish him well in his next role.

“During Sudhanshu’s time at Vista Outdoor, he has played a critical role in augmenting our financial talent. He has been an invaluable CFO partner as we have led the company through the last two and a half years of record financial performance. He has been instrumental in preparing the company for its upcoming spin-off of the Outdoor Products segment as well as the completion of several key acquisitions, which have better positioned us for long-term growth and profitability. 

“Sudhanshu leaves the company with a strong financial foundation, and we are highly confident that the talent we have put in place will endure and provide financial leadership for years to come. We are pleased with our financial performance, confident in our long-term strategy and excited about the future ahead. Our upcoming spin-off remains on track, and we look forward to further unlocking shareholder value through this transaction,” concluded Metz.

Vista Outdoor, Inc. Preliminary Second Quarter FY23 Financial Results:

  • Sales are expected to be approximately $782 million, an increase of 0.4 percent;
  • Sporting products segment sales are expected to be approximately $432 million, down 4 percent, and in line with its previous guidance;
  • Outdoor products segment sales are expected to be approximately $349 million, up 6 percent;
  • EBIT margins of approximately 17 percent and adjusted EBIT margins of approximately 18 percent;
  • Depreciation and amortization are expected to be approximately $23 million; and
  • Fully Diluted Earnings per Share (EPS) of approximately $1.62 and adjusted EPS of approximately $1.71.

Vista Outdoor, Inc. will report its full results on November 2.

Photo courtesy Vista Outdoor