June 8th, 2007

Remington Changes Leadership as Bushmaster Execs Take Control

Remington Arms Management change

When we announced, in this Bulletin, that Cerberus Capital Management, a multi-billion-dollar holding company, acquired Remington Arms, we predicted there would be shake-ups in management, plus a re-vamping of the product lines with increased emphasis on military and “tactical” markets. Cerberus also owns Bushmaster Firearms and we predicted there would be a merging of the two companies’ operations. Well it looks like all that is coming to pass. Among other things, Bushmaster’s former CEO is now President of Remington’s Firearms Operations, and Scott Blackwell, former Bushmaster President, will now direct Remington’s Sales and Marketing efforts. Expect to see a Remington-brand AR15 in the near future.

Tommy Millner, Remington’s CEO, announced a major executive re-shuffling today, with Bushmaster execs moving into major decision-making roles at Remington. Paul Miller, former Board Chairman at Bushmaster Firearms, has been named Remington’s new Chairman of the Board. Mr. Miller served most recently as the Chairman of the Board of Bushmaster Firearms, and before that, he held executive leadership positions in the defense industry. John DeSantis has been named President, Firearms Operations. Mr. DeSantis was the Chief Executive Officer of Bushmaster Firearms. In his new duties, Mr. DeSantis will oversee all manufacturing facilities as well as all R&D activities within Remington’s firearms business. Scott Blackwell, who was Bushmaster’s President, will become Remington’s new President for Sales and Marketing. In that role, Blackwell with oversee all sales and marketing operations for Remington, worldwide.

FN m15 Remington

What does this all mean? As we predicted, Remington is very much intent on becoming a “Black Rifle” company, not just a hunting rifle supplier. No doubt Cerberus’ long-term plans include pushing aggressively for military arms contracts. By putting Bushmaster execs in the “drivers seat”, Cerberus is sending a clear message that it is betting on military-style rifles to boost Remington’s bottom line. The Board of Directors at Colt and FN Mfg., current suppliers of M16s for the U.S. Military, are probably feeling a little nervous right now.

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