Fear & Loading: Remington CEO Resigns For Personal Reasons

by
posted on August 29, 2017
** When you buy products through the links on our site, we may earn a commission that supports NRA's mission to protect, preserve and defend the Second Amendment. **
mistrust.jpg

On Aug. 15, 2017, James Marcotuli, announced his resignation (PDF) as CEO and chairman of the board at Remington. He held the positions for roughly two years.

In a conference call last week, Remington Board of Directors Executive Chairman James Geisler told company investors, “The board has commenced an expansive CEO search both internally and externally to find the most qualified candidates who are both passionate and knowledgeable about our industry, customers and products.” Qualified candidates from outside the gun industry will be considered, although someone with experience in the firearm arena has an advantage in selection.

Marcotuli is leaving the helm of the nation’s oldest gunmaker for personal reasons, and comments during the conference call indicate the board was pleased with the results of his efforts, particularly during a relatively challenging period in the firm’s history. He oversaw a period that included record-breaking sales during the 2016 election cycle, and rose to the challenges of filling retailer supply lines. Then a shift in strategy was required as the market returned to its new norm in growth this year.

The latter’s challenges are reflected in the company’s latest (July 2) quarterly report (PDF) report. In its firearms operations, “Net sales for the three months ended July 2, 2017 were $65.2 million, a decrease of $29.6 million, or 31.2%, as compared to the three months ended June 26, 2016. Sales of rifles, including MSRs, centerfire and rimfire rifles, decreased $26.7 million, while other product sales decreased $2.9 million.” The firm’s ammunition operations didn’t fare much better. “Net sales for the three months ended July 2, 2017 were $80.4 million, a decrease of $12.6 million, or 13.5%, as compared to the three months ended June 26, 2016. Sales decreases were caused primarily by market softness.”

Marcotuli’s tenure also included a period in which the company issued the voluntary recall of some of its most popular firearms.

Latest

Heckler Koch P7 Ihtog 1
Heckler Koch P7 Ihtog 1

I Have This Old Gun: Heckler & Koch P7

In the mid-1970s, the German federal police sought a replacement for its existing World War II-era sidearms and put out stringent guidelines for what it wanted in a handgun. The result was the Heckler & Koch P7.

New For 2025: Smith & Wesson Shield X

Smith & Wesson's new Shield X micro-compact handgun combines elements from the company's M&P Shield Plus with some cues from its smaller Bodyguard 2.0 design.

Review: Tisas PX-5.7 FO

The idea that a faster-moving, lightweight projectile can do the same work as a heavier, slower-moving slug has been around for ages, and the math clearly supports it, even if some in the general public don’t.

NRA Awards Grand Scholarships To 2024 Y.E.S. Students

The Y.E.S. program—which launched in 1996—is held each summer in Washington, D.C., and brings together high-achieving high school students from across the country for a week of immersive learning focused on the U.S. Constitution, Bill of Rights and American government.

Rifleman Q&A: Ford Parts For A Smith-Corona

"My wife and I were celebrating our first child when a gentleman came up to our yard as the party was underway and asked about an old wretched Ford pickup that I intended to restore."

Mossberg 990 Aftershock: Not Just An “Other” Firearm

Following on the success of its shotshell-chambered, pump-action Shockwave, with its 990 Aftershock, Mossberg brings to market a similar package with a semi-automatic action that offers even more speed and convenience.

Interests



Get the best of American Rifleman delivered to your inbox.