Amer Sports forewarns on Q2 profit; appoints new executive board
Amer Sports, parent of Precor, said its full-year outlook is "clouded by the uncertainty in consumer demand in general." It noted that profitability in 2009 is affected by the challenging market conditions, particularly in the United States and for the fitness segment.
Unless market conditions start to improve materially during the rest of the year, Amer Sports estimates that its operating profit for the full-year 2009 will be below last year's level. In February, the company had anticipated results would improve on better cost efficiency in the winter sports equipment business.
The company will report second-quarter earnings on Aug. 6.
In other news, Amer Sports has reorganized its management model by creating one group-wide Amer Sports management team.
Members of the new executive board are: Roger Talermo, president and CEO; Pekka Paalanne, executive vice president and CFO; Thomas Ehrnrooth, senior vice president - sales and channel management; Vincent Wauters, senior vice president - supply chain and information technology; Terhi Heikkinen, senior vice president - human resources; Chris Considine, president of ball sports; Paul Byrne, president of fitness; Juha Pinomaa, president of sports instruments; Michael Schineis, president of winter sports equipment; Jean-Marc Pambet, president of apparel and footwear; and Bernard Millaud, president of cycling.
Newly appointed to the executive board are Pambet, Millaud and Heikkinen. Amer Sports said due to the change, its executive team has been dissolved.
--Compiled by Wendy Geister
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