- Push-out Score determined
- After less than one year in the position
- Praise, thanks and good wishes for Sincerbeaux
- Walter Glazer taking over in the interim
- Search for a successor
(exechange) — Evansville, Indiana, February 22, 2021 — Scott Sincerbeaux, chief executive of Escalade, leaves — “on terms being mutually agreed upon between the Company and Mr. Sincerbeaux.” As announced by Escalade Inc. in a news release and in a regulatory filing published on Monday, February 22, 2021, Scott J. Sincerbeaux has left his post as chief executive officer at the manufacturer and marketer of sporting goods products after less than one year in the role, effective February 19, 2021.
Escalade will undertake a search for a successor.
Scott Sincerbeaux’s duties as CEO will be taken over in the interim by Walter P. Glazer, currently Chairman of the Board of Directors of Escalade Inc., as Interim Chief Executive Officer.
“Scott looks forward to spending more time with his family”
Escalade did not give an explicit reason for Scott Sincerbeaux’s departure from the CEO post, leaving room for speculation. Glazer said: “As Scott looks forward to spending more time with his family, we wish him the best in all future endeavors.”
Precise information regarding Scott Sincerbeaux’s future plans was not immediately available.
“Resigned”
Escalade said: “Mr. Glazer replaced Scott J. Sincerbeaux, who resigned from all of his positions with Escalade, including as Chief Executive Officer and President, and as a director, on terms being mutually agreed upon between the Company and Mr. Sincerbeaux.”
Escalade further said: “On February 22, 2021, Escalade, Incorporated (“Escalade” or the “Company”) announced that Scott J. Sincerbeaux, its President and Chief Executive Officer had resigned from all of his positions with Escalade, including as Chief Executive Officer and President and as a director, on terms being mutually agreed upon by the Company and Mr. Sincerbeaux, effective February 19, 2021.”
Share price increase since April 2020
The announcement follows an increase in Escalade Inc.’s share price of 184% since April 2020. April 2020 is the month in which Sincerbeaux’s tenure as CEO began.
In the position of CEO since 2020
Scott Sincerbeaux became CEO of the Company in 2020.
On March 30, 2020, the Board of Directors of Escalade announced that Scott J. Sincerbeaux has agreed to become the Company’s Chief Executive Officer and President. Sincerbeaux commenced his employment with Escalade on or about April 27, 2020.
Sincerbeaux joined Escalade from Wolverine World Wide, Inc. (NYSE: WWW), a leading marketer and licensor of branded casual, active lifestyle, work, outdoor sport, athletic, children’s and uniform footwear and apparel, where he held several positions including President of Direct to Consumer, President of Global Retail, and President of The Stride Rite Children’s Group.
Prior to joining Wolverine in November 2015, Sincerbeaux served as Vice President, North America Retail for Godiva Chocolatier from August 2013 to November 2015.
Before joining Godiva Chocolatier, Sincerbeaux held sales and direct-to-consumer management roles at Bare Escentuals, Crabtree & Evelyn, and ECCO.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Scott Sincerbeaux’s move on a scale of 0 to 10.
exechange reached out to Escalade and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 9.2021 ($).