Nautilus' Troubles Lead to Shakeup

VANCOUVER, WA — In the wake of revenue revisions and ensuing drops in stock prices, The Nautilus Group Inc. has undergone a senior management shakeup. Gregg Hammann has joined Nautilus as president and CEO. Brian Cook, current CEO and chairman, will continue with the company as chairman. Kevin Lamar will remain president of the Nautilus Health and Fitness Group (NHFG) and has been named a senior officer of the Nautilus Group, with responsibility for retail, commercial and international operations.

“I approached Gregg and asked him for the opportunity to focus my efforts on the commercial and retail business. Gregg not only agreed, but reinforced our collective vision for the commercial and retail channels, as a key growth engine for the company's future,” said Lamar who added that he had spent about 99 percent of his time on the retail and commercial business previously.

“In support, we remain focused on creating and living a ‘culture of service,’ in our goal to be the No. 1 service organization in the hearts and minds of our customers.

The Nautilus Group board of directors said in a statement: “We have continuously added expertise to management as Nautilus has grown over the years. We are confident that Gregg Hammann as our CEO will deliver the leadership and vision necessary to further build and expand our business and drive shareholder value. Our company has accomplished a great deal over the last 17 years during Brian Cook's tenure. The company's leadership position in the fitness and healthy lifestyle markets and financial strength are a true testament to the strength of our organization and Brian's leadership and vision during this time period. The company has evolved from a one-product company with virtually no sales to a company with sales in excess of $500 million distributing the leading brand names in health and fitness through multiple distribution channels.”

Prior to joining Nautilus, Gregg Hammann was chief customer officer of North America and president of Latin America and Canada for Levi Strauss & Company.

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