Vista Outdoor, Inc. hired Eric Nyman as CEO of the company’s Outdoor Products segment and appointed him as a board member, effective August 21. Most recently, Nyman was president and chief operating officer of Hasbro, Inc.
Nyman’s hire comes as Vista plans to spin off its Outdoor Sports segment later this year, which includes Bell, Bushnell, Bushnell Golf, CamelBak, Camp Chef, Foresight Sports, Fox Racing, Giro, QuietKat, Simms Fishing, and Stone Glacier.
At Hasbro, Nyman was responsible for all aspects of the company’s business, including innovation, e-commerce, operations, media and marketing, strategic planning, organizational culture, and leadership. Nyman’s time was marked by e-commerce and consumer direct transformation, integration of digital technology into traditional consumer products, media partnerships and global brand building. He left Hasbro in January 2023 amid a restructuring at the toy company after working for 18 years in various executive roles.
“I am honored to join Vista Outdoor as the CEO of the Outdoor Products segment and a member of the Vista Outdoor Board of Directors,” Nyman said. “It’s an incredible opportunity to lead an iconic portfolio while also joining a purpose-driven company with a compelling mission that connects people to the outdoors in deeper and more meaningful ways. The planned separation to unlock shareholder value will generate momentum for our people, brands and shareholders. I look forward to partnering with our teams, the board and external stakeholders in the days and months ahead as we take Vista Outdoor, the Outdoor Products segment and our brands to new heights.”
Nyman has experience in the outdoor industry, working for Timberland in brand management and marketing roles. He serves on the Virginia Wesleyan University Board of Trustees and previously sat on the Board of the Roger Williams Park Historical Foundation.
“Eric Nyman is a seasoned executive with extensive leadership, operational and marketing experience,” Michael Callahan, Board Chair of Vista Outdoor. “He is a visionary thinker who is fit to launch and lead the Outdoor Products Company. His unique background and skillset, combined with our company’s unmatched portfolio of iconic brands, resilient operating model and strong balance sheet, positions Outdoor Products to deliver compelling value for our shareholders. I look forward to welcoming Eric in the coming weeks.”
Following the Outdoor Products segment separation, Nyman will oversee the new company. He will also serve as a director on the Outdoor Products Company board.
Nyman and a dedicated management team will lead Outdoor Products, which he will hire in the coming months. Vista said, “the new company will be better positioned to focus on capturing value in distribution channels, supply chain management and logistics. Outdoor Products’ capital allocation strategy will prioritize growth through the strategic acquisition of complementary outdoor businesses, opportunistic share repurchases, as well as reinvestment in organic growth through new product development, marketing and expanded e-commerce and international sales.”
Vista Outdoor Board of Directors will expand to include the CEOs of each segment, with the additions of Nyman and Sporting Products CEO Jason Vanderbrink, who received the promotion to the segment in April 2023. The company said that Nyman and Vanderbrink’s appointments “will enhance continuity and increase readiness for each segment ahead of the planned separation in calendar year 2023.”
Gary McArthur will continue on the board and as interim CEO of Vista Outdoor until the planned separation later this year. McArthur, whose focus will be completing the separation of Vista Outdoor’s Sporting Products and Outdoor Products segments in calendar year 2023, will become Chair of the Outdoor Products Company upon completing the planned separation.
“Eric Nyman is an excellent choice to lead Outdoor Products as a standalone company,” McArthur said. “My focus is supporting Eric and Jason as we enter the home stretch of the planned separation. It has been an honor serving Vista Outdoor and our employees as interim CEO, and I look forward to continued collaboration with the leadership teams during the transition and upon my return to the board as an independent director and chairman.”
“The board is appreciative of Gary’s willingness to step in and remain as interim CEO,” Callahan said. “In a short time, he’s taken decisive actions to control costs, improve profitability and prepare each company for the planned separation. We are grateful for Gary’s continued service during the transition and beyond.”
Nyman and Vanderbrink will report to the Vista Outdoor Board of Directors.
On May 5, 2022, Vista Outdoor reported it would separate its Outdoor Products and Sporting Products segments into two independent, publicly traded companies. Vista expects to create the companies through a tax-free spin-off of its Outdoor Products segment to Vista Outdoor shareholders. Vista said the company “is on track to execute the separation in calendar 2023” and that it submitted Form 10 confidentially to the Securities and Exchange Commission (SEC).
Photos courtesy Vista Outdoors/Stone Glacier
