The Down Range Forum
Member Section => Handguns => Topic started by: justbill on September 28, 2011, 02:59:14 PM
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From today's edition of The Shooting Wire:
Smith & Wesson Holding Corporation (NASDAQ:SWHC) announces that P. James Debney has been appointed President, Chief Executive Officer and a member of the Board of Directors, effective immediately. The remaining term of former President and CEO Michael F. Golden's employment contact has being bought out by the company, but Golden will continue as a member of the Board of Directors, assuming the appointed position of Co-Vice Chairman. Golden's contract is expected to impact the company's current quarter earnings per share by as much as two cents, with the gross numbers to be included in the quarterly 10-Q set to be released after the close of the stock markets today.
Link to the full story:http://www.shootingwire.com/story/245979 (http://www.shootingwire.com/story/245979)
I thought Smith was doing well in sales, what with the new Bodyguard CCW's and popularity of the M&P line. I wonder what's going on. Opinions?
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Good question.
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Typically this kind of move indicates that the Board - for whatever reason - is none too happy with the current leadership, in this case a single guy, the former President/CEO. Could be a serious personality issue - Co-Vice Chair is not a huge deal - or could be that they were not happy with plans we mortals know nothing of yet; or even with past performance, thinking they should have done better than X cents a share in dividends.
Also, the previous Pres. could have wanted to do something to the company (acquisition, sale, taking it public or private as the case may be) that the Board did not like. Usually, the separation in those circumstances is complete, and the former Pres. does not sit on the Board.
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It could be a split from what S&W wants to pursue going fwd., and what some may want in just holding fast. I own several old and new S&W's, and would also venture, that with the gun market, sales have been ticking upward for a while....
They may have some internal polling that it is slowing down, sooooo they need to stay competitive and make the latest, greatest blaster, before another manufacture does. Especially in the AR and semi auto market.
* Everyone knows they always made a great revolver.* ;) Except for that internal lock f-up.... :-X
Like all business, "What can we do to increase sales?", matters most. Perhaps, Golden, who is remaining on the BOD, is just done with the day to day operations, and agreed to fresh meat.
Or like Pathfinder posted, he could just be a schmuck...But at least he's still on the BOD...
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* Everyone knows they always made a great revolver.* ;) Except for that internal lock f-up.... :-X
Hopefully this is a sign of the "zit" on the left side going away. I would love to buy a new S&W revo but that lock is a no-go IMHO. (yes you can remove it but it still leaves a hole)
If I want a freaking lock, I'll use one of the 1/2 dozen useless cable locks that came with new guns I've bought while waiting for S&W to pull its collective head out of its ass.