SALT LAKE CITY - Clarus (NASDAQ:CLAR) Corporation (NASDAQ: CLAR), a global company known for its design, development, and distribution of outdoor equipment and lifestyle products, has announced the appointment of Mr. Roger Werner to its Board of Directors, effective today. The addition of Mr. Werner expands the Board to six directors, with five serving independently.
Mr. Werner brings over four decades of executive leadership and a strong background in the sports and entertainment industry to the Clarus Board. His notable career includes pivotal roles at ESPN, where he served as Chief Operating Officer and later as President and CEO, contributing to the network's ascent as a leading cable television network.
His experience extends to a successful turnaround of Outdoor Channel Holdings, Inc., enhancing its profitability and corporate governance. Mr. Werner's current involvement includes advisory positions and directorships, notably with The MotorTrend Group and as Chairman of ACCUS.
Warren Kanders, Clarus' Executive Chairman, welcomed Mr. Werner's appointment, emphasizing the value of his extensive experience and perspective in growing the Company's Outdoor and Adventure segments. Mr. Werner expressed his enthusiasm for joining the Board during a crucial phase for Clarus, aiming to contribute to the Company's long-term vision and shareholder value creation.
Clarus Corporation, headquartered in Salt Lake City, Utah, is recognized for its portfolio of brands such as Black Diamond ®, Rhino-Rack®, MAXTRAX®, TRED Outdoors®, which are sold globally to outdoor enthusiasts through various channels, including specialty and online retailers.
This announcement is based on a press release statement from Clarus Corporation.
InvestingPro Insights
As Clarus Corporation (NASDAQ: CLAR) welcomes Mr. Roger Werner to its Board of Directors, the company's financial metrics provide a mixed outlook. According to real-time data from InvestingPro, Clarus has a market capitalization of $201.05 million, reflecting its size and market value. The company's performance has been under scrutiny, with a notable price drop of -10.98% over the last week, and an even steeper -12.89% decline over the past month, indicating recent market pressures.
InvestingPro Tips highlight that despite recent challenges, there is a positive sentiment among analysts who expect net income growth this year for Clarus. This suggests potential for recovery and a more favorable financial outlook moving forward. Additionally, the company's strong free cash flow yield, implied by its valuation, could be attractive to investors seeking companies with solid cash generation capabilities relative to their share price.
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