Escalade Continues Paring DownPosted: Updated:
Evansville-based Escalade Inc. is continuing to streamline operations. The sporting goods manufacturer has named Stephen Wawrin vice president of finance and chief financial officer and will combine finance and accounting departments. Earlier this year, Escalade announced the sale of its information security business and print finishing segment. November 12, 2014
EVANSVILLE, Ind. - Escalade, Incorporated (ESCA) announced today that it will be consolidating its finance and accounting department effective at the end of its fiscal year on December 27, 2014. At that time, Stephen R. Wawrin will assume the additional duties as Escalade's Vice President, Finance and Chief Financial Officer. Since 2008, Mr. Wawrin has served as Vice President –Finance and Administration for Escalade's Sporting Goods business. He joined Escalade in 2005, and previously served as Corporate Controller for Escalade, Inc. Mr. Wawrin will succeed Deborah J. Meinert, Escalade's current Vice President Finance, Chief Financial Officer, and Secretary, who will be leaving Escalade at that time.
The decision to restructure Escalade's finance and accounting department results from Escalade's strategic decision to focus on its Sporting Goods business. With the divestiture of its Information Security and Print Finishing business, Escalade's executive management and board of directors determined that certain functions could be consolidated. This management change does not impact or in any way relate to the financial statements or reporting of Escalade or its subsidiaries.
Robert J. Keller, Escalade's President and Chief Executive Officer, said, "We thank Deborah for her service over the last seven years. Deborah has made many contributions to the success of Escalade, and we wish her the best in the future." Mr. Keller continued, "Stephen is an integral part of our Sporting Goods team and we look forward to his continued leadership as we seek to grow our Sporting Goods business. We anticipate a smooth transition in the Company's business and financial operations as Stephen assumes his expanded role."
Escalade is a leading manufacturer and marketer of sporting goods products sold worldwide. To obtain more information on the Company and its products, visit our website at: www.EscaladeInc.com or contact Robert J. Keller, President and CEO at 812/467-1288.
Source: Escalade, Inc.