West Marine names new CEO
WATSONVILLE, Calif. – Boating supplies retailer West Marine Inc. has appointed Peter Harris chief executive, effective Jan. 3, it reported in a statement yesterday.
Harris, who succeeds retiring chief executive John Edmonson, most recently was chief executive of the San Francisco 49ers. He previously served as chief executive of FAO Schwartz Inc. and of the department store unit of Lucky stores. Harris will also become a member of the board, according to West Marine.
The company reported only a month ago that Edmonson would retire once a replacement was found. Edmonson spent six years at the helm, during which West Marine’s “store count has increased from 212 to 365, sales have grown at a compound annual growth rate of 6 percent and earnings per share have grown at a CAGR of 37 percent.”
Shares closed yesterday down 4 cents, or less than 1 percent, at $22.38 on the Nasdaq.
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