Ruger’s accomplishments under the leadership of Chief Executive Officer Michael O. Fifer make his announced retirement in May 2017 noteworthy for gun owners. His efforts were critical in the company’s growth, and helped ensure our Second Amendment rights.
Yesterday Ruger announced Fifer will retire on May 9, 2017, at Ruger’s next annual Board Meeting. What he’s accomplished in a decade at the helm is amazing, and outpaces nearly (if not all) every competitor in the firearm industry.
Every gun owner knows, or should know, about the company’s unwavering dedication to protecting the Second Amendment. It’s most evident in the 2 Million Gun Challenge, now extended to 2.5 million, to raise critical funds this election year for NRA/ILA. That kind of generosity requires a firm financial footing, though, and he accomplished that task with aplomb.
“Mike’s leadership over the past 10 years as CEO has been extraordinary,” said C. Michael Jacobi, Chairman of Ruger’s Board of Directors. “During Mike’s tenure, Ruger’s revenues increased more than four times to $600 million and its market capitalization increased more than six times to $1.3 billion, while at the same time driving shareholder returns eight times that of the S&P 500 Index. Mike has led the transformation of the company’s product line and operations, positioning us as a leader in the firearms industry.”
Fifer will continue to support the company as vice chairman of the Board of Directors. Stepping into the CEO role will be Ruger’s current President and Chief Operating Officer Christopher J. Killoy, who has been with the manufacturer since 2003. The West Point graduate and Army veteran previously held positions as Savage Arms, Smith & Wesson and General Electric.
“Chris is the ideal candidate to become just the fourth CEO in the Company’s 67-year history,” Jacobi said. “Chris has a demonstrated track record of success in a wide range of positions at Ruger and other firearm companies over the past 27 years, and he is well qualified to lead our continued growth and development.”
