Trouble at the top for Black Diamond
05/06/2015
However, the company has also confirmed that Ms Freeman has resigned from her position as company president and left the company.
A former Gap and Sony Corporation executive, Ms Freeman joined Black Diamond as company president in August 2014. Black Diamond made it clear at the time that it expected her to succeed Mr Metcalf as chief executive by “no later than June 30, 2015”.
In a statement to the stock exchange dated June 4, the company said: “On May 29, 2015 and June 3, 2015, respectively, Peter Metcalf and Zeena Freeman resigned from the board of directors of the company, effective immediately. [Their] decisions to resign were not the result of any disagreements with the company, but rather in order to allow the company to comply with the requirement that a NASDAQ-listed company’s board of directors consist of a majority of independent directors.
“On June 3, 2015, Ms Freeman resigned as president of the company and terminated her employment agreement.”
It said Mr Metcalf, one of the founders of Black Diamond, will continue to serve as the company’s chief executive officer, but gave no further details.
Sportstextiles has been unable to gather further information. The Black Diamond website has said nothing about the situation in its news section. Calls and emails on June 5 to nominated press spokespeople in Europe and to two financial analysts in the US who keep track of the company’s progress brought no response. In the course of the day on June 5, the company removed from its website all contact details for it press spokespeople.
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