Revenue up 4x. Market cap more than 6x. Shareholder returns? Eight times that of the S&P 500.
Those are just a few of the things that Michael Fifer accomplished in the past 10 years as the CEO of Sturm, Ruger & Co. And while the company’s growth is not likely to end anytime soon, Fifer’s run as company CEO is. On August 2, the company announced that Fifer would be retiring on May 9, 2017.
Fifer will leave Ruger in far better shape than when he took over. In addition to the dollar figures in growth, the company expanded its manufacturing capacity and employs more people. He will also leave the company with no debt.
While many shooters took exception with the late Bill Ruger’s opinions about civilian gun ownership and increased gun regulation, Fifer has proven to be a solid supporter of the shooting community and gun rights. Under his leadership, Ruger has been a solid supporter of the NRA and NRA-ILA. Also during his tenure, the company introduced many concealed carry pistols and modern sporting rifles. Oh, and shooters can now get Ruger branded 25-round magazines for the 10/22. I also wonder what Ruger Sr. would have thought about the company selling sound suppressors.
Replacing Fifer is Christopher Killoy. Killoy has been with Ruger since 2003, and has been the company’s COO since 2014. Prior to his time at Ruger, Killoy worked at Smith & Wesson and Savage Arms. He is a 1981 graduate of West Point.