The first of the week I was informed that James “Marco” Marcotuli had stepped down as CEO of Remington Outdoors. Marco did not make this decision easily but in the end, personal matters dictated his action to leave Remington.
Having met and spoken with Mr. Marcotuli on several occasions he seemed very dedicated to making Remington a better company after some difficult times in recent years. Marco is a man who welcomed ideas from anyone in the company as well as those of us in the media who were solicited by Marco during meetings for our ideas on improving Remington and taking care of the companies customers.
I’m sure there will be those who announce his departure as being prompted by the last quarter financial report showing a 24% drop in sales. Let me assure you this is not the case. He is well respected and in no way asked to leave says Remington. I know this will come up so I thought why not get it out of the way.
Jessica Kallam Remingtons Media Relations and Public Affairs manager provided the following statements today concerning Mr. Marcotuli’s leaving Remington.
We are pleased to announce that Remington Board Member Jim Geisler has been elevated to Executive Chairman of the Board. This follows the decision by Jim Marcotuli to step down as CEO for personal reasons. Jim has also committed to continue as an advisor to the board during the transition.
In order to promote a quick and seamless transition, the Board has put in place a thoughtful and thorough process to identify a highly qualified successor to serve as a permanent CEO, with both internal and external candidates being considered.
Like many in the firearms industry, Remington is contending with a soft market; but make no mistake, the Company remains strong.
There will be no formal press release. The statement above will be the extent of the companies announcement.