Academy Sports + Outdoors Announces Succession Planning

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Jun 02, 2015, 02:26 ET

KATY, Texas, June 2, 2015 /PRNewswire/ -- Academy, Ltd. d/b/a Academy Sports + Outdoors ("Academy"), a premier sports, outdoor and lifestyle retailer, announced that it will begin the process to identify a successor for company President and CEO, Rodney Faldyn. Mr. Faldyn joined Academy in 2006 and became CEO when an investment entity controlled by affiliates of Kohlberg Kravis Roberts & Co. L.P. acquired a majority interest in Academy in August 2011.

"Mr. Faldyn has led Academy to extraordinary heights, including growing store count by nearly 50%, launching a new e-commerce platform, implementing a new Oracle retail management system, and, most impressively, driving strong performance by nearly doubling cash flow from earnings during our ownership," says Nate Taylor, Academy Board Member & KKR Head of Retail - Americas.

While Mr. Faldyn has not decided on a specific timeline for his exit, Academy has nonetheless initiated a succession planning process to ensure a seamless executive management transition during this period. Mr. Faldyn will remain CEO as well as a Board Member during the search process.

"I'm tremendously proud of Academy Sports + Outdoors' evolution as we've strengthened our market position, expanded our store footprint, and invested in talent and infrastructure," says Mr. Faldyn. "Academy has been my passion for the past ten years, and I am fully committed to facilitating a smooth transition to my successor when the time is right. I look forward to remaining a long-term investor in the company."

About Academy Sports + Outdoors

Academy Sports + Outdoors is a premier sports, outdoor and lifestyle retailer with a broad assortment of quality hunting, fishing and camping equipment and gear along with sports and leisure products, footwear, apparel, patio sets, barbecue grills and much more. The $4 billion company operates 198 stores throughout Alabama, Arkansas, Florida, Georgia, Indiana, Kansas, Kentucky, Louisiana, Mississippi, Missouri, North Carolina, Oklahoma, South Carolina, Tennessee and Texas, where the company is based. The Academy Sports + Outdoors philosophy is to deliver an unparalleled shopping experience by providing convenience, offering a broad selection of quality products, delivering exceptional customer service and selling the right stuff at everyday low prices. For more information about Academy Sports + Outdoors visit academy.com, facebook.com/academy, twitter.com/academy, pinterest.com/academy, youtube.com/academy and instagram.com/academy.

Certain statements in this press release constitute "forward-looking statements", which are not historical in nature and are identified by the words "intend," "will" or other similar expressions. These forward-looking statements are dated as of today and are based upon currently available information and our current expectations and assumptions. Forward-looking statements are subject to significant uncertainties that could cause actual outcomes to differ materially from our present expectations. We assume no obligation to update these statements to reflect events or circumstances after the date of this press release.

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SOURCE Academy Sports + Outdoors