TAMPA, Fla. - Lazydays Holdings, Inc. (NasdaqCM: GORV), a company well-established in the RV industry with annual revenue of $920.77 million, announced today the appointment of Jeff Needles as its new Chief Financial Officer (CFO). According to InvestingPro data, the company faces significant financial challenges, with its stock down over 85% in the past year. Needles, who previously held the CFO position at Warbird Marine Holdings, LLC, brings over two decades of financial management experience to the role.
Effective today, Needles takes over the financial reins at Lazydays, where he will manage the company's financial strategy, including aspects such as accounting, treasury, SEC reporting, and financial planning. His appointment coincides with the resignation of Interim CFO Jeff Huddleston, who will transition to a consulting role to assist with the changeover.
Ron Fleming, Interim CEO of Lazydays, expressed his enthusiasm for Needles' arrival, highlighting his relevant experience in multi-location retail marine and powersports, which is expected to benefit Lazydays. Fleming also thanked Huddleston for his contributions during his interim tenure.
Needles joins Lazydays at a pivotal moment as the company has recently completed a series of financing transactions and is undertaking transformational actions aimed at future growth. The appointment comes as the company manages a substantial debt-to-equity ratio of 8.0 and faces operational challenges. InvestingPro subscribers can access 12 additional key insights about Lazydays' financial health and growth prospects. With a background that includes positions at United Enertech Holdings, LLC, Schnellecke Logistics USA, Mastercraft Boat Company, and Harley Davidson Motor Company, Needles' extensive experience is poised to contribute significantly to Lazydays' financial operations.
A Certified Public Accountant, Needles holds an MBA from Washington University and a Bachelor of Science in Business Administration from Saint Louis University, John Cook School of Business.
Lazydays RV has been a prominent player in the RV market since 1976, renowned for its comprehensive RV sales, service, and customer experience. With a current market capitalization of $52.52 million and a current ratio of 0.91, the company faces near-term liquidity challenges. Discover detailed financial analysis and Fair Value estimates for Lazydays and other RV industry players with InvestingPro. The publicly listed company on the Nasdaq stock exchange is known for its wide selection of RV brands, state-of-the-art service facilities, and extensive range of accessories and parts, catering to the needs of RV enthusiasts.
This announcement includes forward-looking statements that involve risks and uncertainties. The company cautions not to place undue reliance on these statements, which speak only as of the date of the press release. The information in this article is based on a press release statement.
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