On Jan. 15, Christopher Metz will replace John Merris as president and chief executive officer of Solo Brands according to a company press release Monday. On that date, Merris will leave as president, CEO and board member.
Metz has more than 25 years of leadership experience at consumer goods companies, most recently as CEO of Vista Outdoor, per the release. In his more than five years at Vista, he oversaw strategic repositioning, and oversaw record revenue, profits and cash flow generation, the company said.
Solo Board Chairman Matt Hamilton said in a statement that Metz is the right person for the job as Solo embarks on a new chapter.
The shakeup at the top comes as Solo missed its direct sales projections in the fourth quarter, according to interim CFO Andrea Tarbox. A marketing campaign helped raise the company’s brand profile but led to fewer sales than anticipated.
Solo lowered its guidance for the full fiscal year, with revenue now expected to land between $490 million and $500 million, down from previous guidance of $520 million to $540 million. Adjusted EBITDA margin is now expected to range between 14% to 15%, down from 17% to 18%.
In October, Solo announced that Tarbox, a member of Solo’s board, would step in to serve as chief financial officer upon the December departure of Somer Webb. The company said then that it enlisted an executive search firm to find a permanent CFO.
