- After about five and a half years in the position
- Praise, thanks, words of regret and good wishes for Merris
- Chris Metz taking over
- Merris said 74 words
(exechange) — Grapevine, Texas, January 8, 2024 — John Merris, chief executive of Solo Brands, leaves his position. As announced by Solo Brands Inc. in a news release and in a regulatory filing published on Monday, January 8, 2024, John Merris leaves his post as chief executive officer at the direct-to-consumer platform, after about five and a half years in the role, effective January 15, 2024.
Generally speaking, it raises questions when a CEO leaves his post at short notice.
John Merris’s duties as CEO will be taken over by Christopher T. (Chris) Metz, most recently Chief Executive Officer at Vista Outdoor Inc.
The fact that John Merris’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.
In general, an outsider does not have the constraints of an insider when it comes to leading painful changes or making unpopular decisions.
“The right person to grow shareholder value”
Solo Brands did not give an explicit reason for John Merris’s departure from the CEO post. Matt Hamilton, Chairman of Solo Brands’ Board of Directors, stated: “Our board is confident that Chris is the right person to grow shareholder value.”
Precise information regarding John Merris’s future plans was not immediately available.
Solo Brands said: “Mr. Metz succeeds John Merris, who will mutually separate from the Company as its President, CEO and Director effective as of [January 15, 2024].”
Share price decline since November 2021
The announcement follows a decline in Solo Brands Inc.’s share price of 69% since November 2021.
In the position of CEO since 2018
John Merris became CEO of the Company in 2018.
Merris has served as the Company’s President and Chief Executive Officer since October 2018 and a member of the Company’s Board since March 2021.
Prior to his time with the Company, Merris served as Chief Revenue Officer and Director of Clarus Glassboards LLC, a manufacturer of glass writing surfaces, from October 2015 to October 2018, and Vice President of Multiview, a business to business media company, from August 2012 to October 2015.
Merris also serves on the board of directors of Fostering Hearts, a non-profit corporation.
In 2020, Merris was recognized as the EY Entrepreneur of the Year Regional Winner.
Merris holds a B.A. in Political Science and Business from Brigham Young University and a M.B.A. from University of Texas at Austin.
74 words by John Merris
In the release announcing his departure as CEO of Solo Brands Inc., John Merris received praise, thanks, words of regret and good wishes.
In announcing his departure, John Merris said 74 words.
“Leaving the company in great hands”
John Merris stated: “I am grateful for the amazing blessing it has been to lead Solo Brands over the past five years. I want to thank our Board of Directors for their partnership, our team for their incredible work and passion, and our customers for making this journey possible in the first place. I am excited to watch as Solo continues to grow under new leadership and feel confident I am leaving the company in great hands.”
Push-out Score for John Merris’s move determined
The Push-out Score™ determined by exechange gauges the pressure surrounding John Merris’s move on a scale of 0 to 10.
Read the full story in the exechange report 3.2024 ($).