Nautilus Lets Go CEO Gregg Hammann
Sep 01, 2007, Fitness Business Pro, Jennipher Shaver
VANCOUVER, WA It was little surprise to most analysts when Gregg Hammann stepped down as president and chief executive officer of Nautilus Inc. last month. The Vancouver, WA-based equipment manufacturer released falling net sales and net income for the first and second quarters of 2007, and has posted increased net sales and net income in only two quarters of the last 2 years. I've been calling for
Nautilus Restructures, Says No to Shareholder Group
Nov 26, 2007, Fitness Business Pro
VANCOUVER, WA -- Nautilus Inc., under siege by its largest shareholder Sherborne Investors, has turned down that groupÂ’s request to replace four of the Nautilus board members with Sherborne representatives. In addition, the company has restructured, making appointments to four positions, two of which are newly created.
Nautilus Shareholders To Meet in December
Nov 01, 2007, Fitness Business Pro, By Pamela Kufahl
Vancouver, Wa As Robert S. Falcone moved into the role of president and CEO of Nautilus Inc., last month, the company faced more troubles, particularly in the form of its financials for the third quarter and in the form of Sherborne Investors LP, which owns 23.5 percent of the company's common stock. Nautilus granted the Delaware-based group's call for a special shareholder meeting, which will take
Nautilus Board Nixes Plans
Feb 01, 2008, Fitness Business Pro, Pamela Kufahl
Vancouver, WA Sherborne Investors has wasted little time making some changes in the direction of Nautilus Inc. now that it controls the board. Last month, Nautilus' board terminated the company's shareholder rights plan and the purchase of a Chinese manufacturing plant, Land America Health and Fitness Co. Ltd., for $63 million. The cancellation of the plant purchase would likely cost Nautilus the
Nautilus Board Changes
Jan 01, 2008, Fitness Business Pro, Pamela Kufahl
Vancouver, Wa Even though Sherborne Investors now controls Nautilus' board of directors, Robert Falcone remains president and CEO of the Vancouver, WA-based company. At one time, Sherborne Investors had indicated they would look for a new CEO if they controlled the board. At the Dec. 18 shareholder meeting, shareholders voted to replace four of the seven Nautilus board members with Sherborne nominees.
Nautilus Buys Universal Gym Equipment
Jun 01, 2006, Fitness Business Pro, Pamela Kufahl
VANCOUVER, WA Nautilus Inc.'s $2.31 million acquisition of the Universal brand of fitness equipment has added another brand to Nautilus' stable. The company already owns Nautilus, Bowflex, Stairmaster, Schwinn Fitness and Pearl Izumi. The Universal addition creates potential in its consumer segmentation strategy, said Gregg Hammann, chairman and CEO of Nautilus. The Universal brand consistently surfaces
Nautilus Appoints CEO as Trouble Continues
Oct 29, 2007, Fitness Business Pro, By Pamela Kufahl, editor
Robert S. Falcone, who has been interim president and CEO of Nautilus since August 2007, was appointed as CEO of Nautilus this month, just two days before the company announced a net loss of $13 million in the third quarter 2007. Net sales for the third quarter were $134 million, compared to $159.6 million for the corresponding period last year, down 16 percent.