K2 accepts Rodstein resignation, names new CEO

K2 Inc. (NYSE:KTO) today announced the resignation of Richard M. Rodstein, age 47, its president and chief executive officer. Richard J. Heckmann, age 58, chairman of the board of directors since April 2000, assumed the post of chief executive officer.
Author:
Updated:
Original:

K2 Inc. (NYSE:KTO) today announced the resignation of Richard M. Rodstein, age 47, its president and chief executive officer. Richard J. Heckmann, age 58, chairman of the board of directors since April 2000, assumed the post of chief executive officer. Heckmann was the founder, chairman and chief executive officer of US Filter (formerly NYSE:USF) until it was acquired by Vivendi (NYSE:V) in 1999. The company also announced that J. Wayne Merck, age 42, executive vice president, assumed the post of chief operating officer -- a move that essentially formalizes the duties he has been performing for the company already. Heckmann also indicated that the company will leave the post of president open for now. SNEWS® View: Though no one at the company was commenting on the record, it is probably safe to say that this was not a "voluntary" resignation. Rodstein was named as K2's CEO in 1996, and enjoyed a stock trading at or near $30, as we recall. Suffice it to say that K2's shares have been trading at an abysmally low level for the last year and that Rodstein's performance was probably no longer satisfactory to the board. K2's shares closed Friday at $6.71, up 31 cents, or 4.8 percent, on composite volume of 69,200 shares. Morale is another issue, and we know from folks who are close to staff at the company offices in Vashon that it is extremely low. We might suggest to Heckmann that he insert someone from the Los Angeles-based executive team into Vashon to lead the charge, provide strategic vision and simply oversee operations. As it stands now, the Vashon team is one with a lot of talented First Mates, but no captain steering the ship, and that's not good.

Related

De_Rocco_thumb_082511.jpg

New K2 CEO De Rocco talks rocker, growth, global strategy

The breaking news out of K2 Sports in Seattle on Aug. 22, 2011, was that Anthony De Rocco would be taking over as president and chief executive officer of the brand on Sept. 1, while current president and CEO Robert Marcovitch would assume the same role with The Coleman Company. ...read more

Clark resigns as CEO of Yakima

Jim Clark, CEO of Yakima Products, has resigned. Jay Wilson, Yakima's CFO, will serve as the acting CEO until the board finds a replacement. Clark will remain with Yakima until mid-June to facilitate the transfer of responsibilities to Wilson. When we asked Clark why he tendered ...read more

Jon Caplan Resigns as CEO at Hi-Tec Sports

Jon Caplan has probably eaten more little bags of Southwest Airlines snack mix than he cares to count. As president and CEO of Hi-Tec Sports for the last three years, he has commuted from his home near Nashville, Tenn. every week -- via Southwest -- to Hi-Tec's central California ...read more

Lowe Alpine CEO Hammersley Resigns

Lowe Alpine's CEO of the last 15 months, Mark Hammersley, resigned unexpectedly Nov. 26. That prompted Ruth Henderson, CEO of William Baird PLC, Lowe's parent company, to quickly appoint John King as Lowe's new CEO, effective Nov. 27. No word from Hammersley on why he resigned, ...read more

Outdoor financials: Gander Mountain CEO resigns

Gander Mountain CEO resigns Gander Mountain (Nasdaq: GMTN) said President and CEO Mark R. Baker resigned to become president and chief operating officer of Scotts Miracle-Gro Co. Baker, who also served as a Gander board member, had been a member of Scotts' board since 2004. His ...read more

K2 CEO talks confidently of growth and acquisitions

There is little doubt that Richard Heckman intends to turn K2 into an industry giant by gobbling up other companies, perhaps yours. Heckman is not a man to wait and watch, and he has the talent and, apparently, pockets deep enough to get bullish quickly. The new CEO and chairman ...read more

unnamed

Patagonia names new CEO

After a three-and-a-half month search, Patagonia has named its new CEO. Ryan Gellert will rise from within the company’s ranks to take on the new role. For more than five years, Gellert has served as the brand’s general manager of Europe, the Middle East, and Africa (EMEA). ...read more

Did you hear?... The Redfeather Snowshoes board of director promotes Allan Kettlehut to president and CEO

The Redfeather Snowshoes board of directors has promoted Allan Kettlehut to president and chief executive officer. Prior to assuming the new leadership role, Kettlehut was the company's general manager and director of operations. According to the company, it was Kettlehut who was ...read more

CamelBak names Sally McCoy as new CEO and president

Sally McCoy, founding partner of Silver Steep Partners, and former president of Sierra Designs and Ultimate Direction, is the new CEO and president of CamelBak. McCoy has, for the previous two years, served as a member of the CamelBak board of directors. McCoy told us that Bear ...read more