Walter P. Glazer, Jr. to Retire as President and CEO of Escalade, Inc. in 2024
ESCA Stock Dips After Announcement
Glazer to Assist in Search for Successor
ESCA stock dipped 2.1% to $12.58 per share on Wednesday following the announcement of CEO Walter P. Glazer, Jr.'s planned retirement.
The Escalade board of directors said it has formed a search committee to identify and evaluate candidates to succeed Glazer when he steps down at the end of 2024.
Glazer, 67, has served as Escalade's president and CEO since 2001. Under his leadership, the company has grown from a small manufacturer of truck accessories to a global supplier of automotive aftermarket products with annual sales of over $1 billion.
In a statement, Glazer said he is "proud of what we have accomplished at Escalade" and that he is "confident in the company's future." He added that he will continue to work closely with the board and management team to ensure a smooth transition during his remaining time as CEO.
- Glazer has served as president and CEO since 2001.
- Under Glazer's leadership, Escalade has grown significantly.
- The board of directors has formed a search committee to find Glazer's successor.
Analysts say that Glazer's retirement is not unexpected, as he has been with the company for over two decades. However, they also note that his departure will leave a significant void at Escalade.
According to a recent report by Forbes, "Glazer is a well-respected figure in the automotive industry. His departure will likely create some uncertainty for investors in the near term."
However, the report also notes that Escalade has a strong management team and a solid foundation for growth. As a result, analysts expect the company to remain a leader in the automotive aftermarket industry for years to come.
Comments