Fear & Loading: Remington CEO Resigns For Personal Reasons

by
posted on August 29, 2017
mistrust.jpg

On Aug. 15, 2017, James Marcotuli, announced his resignation (PDF) as CEO and chairman of the board at Remington. He held the positions for roughly two years.

In a conference call last week, Remington Board of Directors Executive Chairman James Geisler told company investors, “The board has commenced an expansive CEO search both internally and externally to find the most qualified candidates who are both passionate and knowledgeable about our industry, customers and products.” Qualified candidates from outside the gun industry will be considered, although someone with experience in the firearm arena has an advantage in selection.

Marcotuli is leaving the helm of the nation’s oldest gunmaker for personal reasons, and comments during the conference call indicate the board was pleased with the results of his efforts, particularly during a relatively challenging period in the firm’s history. He oversaw a period that included record-breaking sales during the 2016 election cycle, and rose to the challenges of filling retailer supply lines. Then a shift in strategy was required as the market returned to its new norm in growth this year.

The latter’s challenges are reflected in the company’s latest (July 2) quarterly report (PDF) report. In its firearms operations, “Net sales for the three months ended July 2, 2017 were $65.2 million, a decrease of $29.6 million, or 31.2%, as compared to the three months ended June 26, 2016. Sales of rifles, including MSRs, centerfire and rimfire rifles, decreased $26.7 million, while other product sales decreased $2.9 million.” The firm’s ammunition operations didn’t fare much better. “Net sales for the three months ended July 2, 2017 were $80.4 million, a decrease of $12.6 million, or 13.5%, as compared to the three months ended June 26, 2016. Sales decreases were caused primarily by market softness.”

Marcotuli’s tenure also included a period in which the company issued the voluntary recall of some of its most popular firearms.

Latest

Rem700 Partsview
Rem700 Partsview

Exploded View: Remington Model 700

Since 1962, more Remington Model 700s have been sold than any other bolt-action rifle before or since, and this detailed disassembly guide, exploded view and brief history of the platform, is one worth filing near the toolbox.

Preview: Wildgame Innovations ZeroTrace Portable

The PureION technology employed by Wildgame Innovations’ ZeroTrace line of odor-elimination products chemically neutralizes offending smells—without resorting to an ozone generator—and the company’s Portable unit is the line’s most versatile product yet.

Review: Christensen Arms Modern Precision Rimfire Rifle

The Modern Precision Rimfire from Christensen Arms builds upon time-honored blueprints and is crafted from its maker's flash-forged carbon-fiber technology to create an accurate and fun-to-shoot repeating rifle.

New For 2025: H&K MR A4 Series

Building on its existing commercial line of MR556 and MR762 rifles, HK USA now offers A4 versions of both rifles, as well as large-format pistol variants.

Gun Of The Week: Smith & Wesson Model 1854

Welcome to another American Rifleman Gun Of The Week video, and this time we have a modernized American lever-action to take to the range. Meet the Smith & Wesson Model 1854.

New For 2025: Kimber 2K11

With its new 2K11, Kimber now has a dedicated design based on the 2011 concept that comes loaded with a number of added features.

Interests



Get the best of American Rifleman delivered to your inbox.