Fox Factory CEO Larry Enterline hands over to Mike Dennison

  • Push-out Score determined
  • After about six years in the position
  • Accolades, praise and thanks for Enterline
  • Enterline will remain as Executive Chairman at Fox Factory
  • Enterline said 95 words

(exechange) — Braselton, Georgia, February 26, 2019 — Larry Enterline, chief executive of Fox Factory, hands over the reins. As announced by Fox Factory Holding Corp. in a news release and in a regulatory filing published on Tuesday, February 26, 2019, Larry L. Enterline leaves his post as Chief Executive Officer at the maker of ride dynamics products after about six years in the role, effective June 29, 2019.

Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, the average tenure of the CEOs who departed over the past 12 months was 8.2 years, according to data compiled by exechange.

Larry Enterline’s duties will be taken over by Michael C. (Mike) Dennison, currently President, Powered Vehicles Group of Fox Factory Holding Corp.

No reason given

In the announcement, Fox Factory did not explicitly explain the reason for Larry Enterline’s move.

Enterline will remain as Executive Chairman at Fox Factory

“Larry L. Enterline will retire from the role of Chief Executive Officer … after eight years with the Company, and become Executive Chairman of the Board, on June 29, 2019,” Fox Factory said.

“Retire”

Fox Factory said: “On February 25, 2019, Larry L. Enterline notified Fox Factory Holding Corp. … that he has decided to retire from his role as Chief Executive Officer … of the Company as of June 29, 2019.”

Share price increase since April 2018

The announcement follows an increase in Fox Factory Holding Corp.’s share price of 81 percent since April 2018.

Chaired by Dudley Mendenhall

Fox Factory Holding Corp. is chaired by Dudley Mendenhall.

Dudley Mendenhall has served as Chairman of the Board since July 2017. He joined Fox as a director of its Subsidiary in February 2012 and was appointed to serve as a member of the Company’s Board of Directors in June 2013.

In the position of CEO since 2013

Enterline has been the Chief Executive Officer of Fox Factory Holding Corp. since May 2013, where he joined in March 2011.

Enterline first joined the Company in March 2011.

Prior to the Company’s initial public offering (“IPO”), which occurred in August 2013, Enterline served as Chief Executive Officer and director of the Company’s main operating subsidiary.

In connection with the Company’s IPO, Enterline was named the Company’s Chief Executive Officer in May 2013 and appointed as a director in June 2013 in addition to his service in such roles at the Company’s Subsidiary.

Since April 2010, Enterline has served as the Chief Executive Officer of Vulcan Holdings, Inc., his private investment holding and consulting services company.

From January 2006 to April 2010, Enterline was Chief Executive Officer of COMSYS IT Partners, Inc., an IT staffing and solutions company.

From October 2005 to July 2017, Enterline served on the board of directors of Concurrent Computer Corporation (NASDAQ: CCUR), a provider of software, hardware and professional services for the video market and the high-performance, real-time market.

From April 2005 to September 2011, Enterline served on the board of directors of Raptor Networks Technology, Inc., now known as Mabwe Minerals Inc. (PINK: MBWE), which, at the time of Enterline’s membership on the board, was engaged in the data network switching industry.

From 1989 to 2000, Enterline served in various management roles, including Senior Vice President of Worldwide Sales and Service Organization, at Scientific-Atlanta, Inc., a Georgia-based manufacturer of cable television, telecommunications and broadband equipment.

Enterline serves on the board of directors of Hi Hope Service Center Inc., and as trustee of The Enterline Foundation, both of which are charitable, 501(c)(3) non-profit organizations.

Enterline earned a BSEE in Engineering from Case Western Reserve University in 1974, and an MBA from Cleveland State University in 1988.

Upon the appointment of Enterline to Executive Chairman, Dudley Mendenhall will transition from Chairman of the Board of Directors to Lead Independent Director.

Push-out Score determined

The Push-out Score™ determined by exechange gauges the likelihood that a manager was pushed out or felt pressure to leave the position.

exechange reached out to Fox Factory and offered the company the opportunity to comment on the score.

Read the full story in the exechange report 9.2019 ($).