I do not like reporting bad news – there’s plenty of it everywhere else in the world, why does it need to creep into one activity that I do primarily for fun. In any event, as confirmed by multiple industry sources, Smith and Wesson has fired Rob Martinez as CEO of Gemtech effective immediately. It is rumored that Mark Thompson, CFO, will hold an interim leadership position at Gemtech
News of Martinez’s firing comes after Smith and Wesson purchased Gemtech only a few months ago, as TFB reported here. Rumors are flying around regarding the cause of what seems to be a hasty departure. In one unconfirmed example, Martinez and some Gemtech staff may have clashed with S&W on ATF Form 3 processing and product shipping. This left some to believe that revenue was being squeezed to prevent buyout deals/bonuses.
The reasoning behind the leadership change at the silencer manufacturer is all speculation at this point. However, it does make me nervous about continued operations and the move into a new headquarters. Let’s hope that Gemtech will continue to design, build and sell quality silencers.
Smitth and Wesson has not commented on the change in the personnel.