Sportsman’s Warehouse Holdings Inc. announced this week that its board of directors has appointed Paul Stone as the chief executive officer and president of the company and as a member of the board, effective Nov. 1, 2023. Stone’s appointment follows an extensive search and selection process that considered both internal and external candidates. This process was led by the board and conducted with the assistance of a leading independent executive search firm.
Stone will succeed Joseph P. Schneider, who has served as interim chief executive officer and president since April. Schneider will continue to serve as independent chair of the board until the end of 2023, when he will retire from the board and director Rich McBee will succeed him as independent chair.
Stone is a seasoned executive with direct experience in the outdoor specialty retail space, having served as the chief retail officer of Cabela’s Inc., where he transformed the customer experience and led the modernization of the company’s digitization strategy. Most recently, he served as president and chief operating officer of Hertz Global Holdings Inc., where he oversaw more than 11,000 locations globally with a strong focus on operations and customer service excellence. He also served as interim chief executive officer and on the board of directors of Hertz from May 2020 to October 2021, and in that role helped drive the company’s successful emergence from bankruptcy.
“After carefully considering a wide range of candidates, the board believes that Paul is the ideal choice to lead Sportsman’s Warehouse through its next chapter of growth,” said Schneider. “Not only does Paul share the company’s passion for the outdoors, but he is also an experienced leader who has helped drive significant positive transformation in the retail sector. Paul’s prior retail leadership roles make him especially qualified to execute the company’s plan to catalyze growth, enhance the focus on our e-commerce platforms and private-label products, and improve our overall customer experience. We are very pleased to welcome him to Sportsman’s Warehouse and believe it is a testament to the strength of our brand that we were able to attract a candidate as highly qualified as Paul.”
“As a lifelong outdoorsman, I am thrilled to be joining Sportsman’s Warehouse at such a pivotal time for the company,” said Stone. “Sportsman’s Warehouse has taken significant steps over the past several months to enhance shareholder value, including reducing its expense structure and managing inventory, and I am excited to begin working with the rest of the talented management team and the board to build on these actions and set the company’s strategic pathway.”
“On behalf of the entire Sportsman’s Warehouse team, I want to express our gratitude to Joe for his many contributions to the board, first as a director, then as chair, and finally over the past several months as interim chief executive officer and president,” said Martha Bejar, lead independent director of the board. “His continued presence on the board and in the chair role until the end of 2023 will help ensure a smooth transition process.
“Rich is ideally qualified to step into the role of chair for Sportsman’s Warehouse. His diverse business experience and extensive technology background — as well as his passion for the outdoors — have made him a valuable asset on our board since he joined in 2018. We are confident he will bring the right perspectives and oversight as we execute our strategy moving forward. Further, after these changes take effect, our board will be comprised of eight highly qualified members with diverse skillsets and experiences, over 50 percent of whom have joined since August 2022.”