According to a source close to the situation, Remington CEO Anthony Acitelli has resigned from his position as head of the Madison, North Carolina based firearms company. Acitelli was elected as CEO in October of 2017 as the firearms manufacturer traversed the different stages of bankruptcy after several years of financial uncertainty. In May of this year, Remington emerged from bankruptcy that transitioned $775M of debt into equity allowing the company to resume a “normal course of business”. In June, Acitelli was named chairman of the board for Remington Outdoor Company.
EXCLUSIVE: Remington CEO Anthony Acitelli Resigns
TFB reached out to Remington for a statement regarding Acitelli’s resignation. A company spokesperson provided a brief announcement:
Anthony successfully lead the company through the bankruptcy process and is transitioning the business to new leadership. – Remington Public Affairs
Besides producing firearms under the Remington name, the company also produces Bushmaster rifles at their Huntsville, Alabama factory and Marlin Firearms in New York and Kentucky. The suppressor manufacturer Advanced Armament is also owned by the Remington Outdoor Company.
Acitelli has a long history in the firearms industry that includes positions at Taurus, Colt and ATK. Presumably the Remington board will now move to appoint an interim CEO while the search for Acitelli’s permanent replacement is underway.
TFB will be in contact with Remington and will keep our readership up to date with information as it becomes available.
Remington Outdoor Company, Inc. (“ROC”) is a private company headquartered in Madison, N.C. that owns and operates a number of companies and brands that manufacture and sell firearms, ammunition, silencers, and related parts and accessories. Its major facilities are located in New York, Alabama, Arkansas, North Carolina, South Dakota, Tennessee, and Utah. Its major brands include Remington, Marlin, Advanced Armament Corp., Bushmaster, DPMS, Storm Lake Barrels, Dakota Arms, Nesika, H&R 1871, Para, and Barnes Bullets.