LINCOLNSHIRE - Camping World Holdings, Inc. (NYSE: NYSE:CWH), a leading retailer of recreational vehicles (RVs), announced key upcoming executive transitions today. President Brent Moody is set to retire at the end of 2024, with his resignation as President effective July 1, 2024. Chief Financial Officer Karin Bell will also retire following the filing of the company's Form 10-K for the year ended December 31, 2024, with her resignation as CFO effective on the same date as Moody’s.
In light of these changes, Matthew Wagner will assume the role of President and continue his duties as the company's principal operating officer, while Tom Kirn will be appointed as the new Chief Financial Officer, in addition to his ongoing role as the principal accounting officer.
Chairman and CEO Marcus Lemonis praised the long-standing contributions of Moody and Bell, highlighting over 40 years of combined service to the company. Lemonis stated, "Camping World would not be what it is today without them." He also noted that both executives will continue to mentor the next generation of leaders within the company. Moody will maintain his involvement on the company's Board of Directors, and Bell will serve in an advisory capacity to Lemonis and the senior management team.
Moody expressed confidence in Wagner's ability to lead and innovate across the company and anticipated a smooth transition. Bell echoed this sentiment, emphasizing her confidence in Kirn's skills and commitment to financial discipline.
Lemonis concluded by describing the announcement as the result of several years of leadership succession planning and career advancement for Wagner and Kirn, signaling continued growth for the company into the next decade.
Camping World, headquartered in Lincolnshire, IL, operates as the world's largest RV retailer and aims to make RVing fun and easy, maintaining a significant online presence and a network of dealerships and service centers across 43 states.
This news is based on a press release statement and contains forward-looking statements regarding anticipated leadership transitions and future growth. These statements are predictions and involve risks and uncertainties. The company advises consulting further disclosures in public announcements and filings with the SEC for additional information.
InvestingPro Insights
As Camping World Holdings (NYSE: CWH) prepares for a significant transition in its executive leadership, the company's financial health and market performance remain critical for investors and stakeholders. According to recent data from InvestingPro, Camping World is navigating a complex financial landscape. The company's market capitalization stands at approximately $948.32 million, reflecting its position in the market.
InvestingPro Tips highlight that Camping World operates with a significant debt burden and is trading at a high earnings multiple, with a P/E Ratio of 169.84. These metrics suggest that the company's stock is valued relatively high compared to its earnings, which is an important consideration for investors eyeing the company's future profitability and stock performance. Additionally, the company has maintained dividend payments for 9 consecutive years, with a current dividend yield of 2.49%, which could be attractive to income-focused investors.
Despite a challenging revenue growth rate over the last twelve months, with a decline of 10.13%, analysts predict that Camping World will be profitable this year. This optimism is further supported by the fact that the company has been profitable over the last twelve months. However, the stock price has seen significant volatility, having fallen by 26.52% over the last three months, which may indicate a potential buying opportunity for long-term investors or could signal caution for those concerned with short-term price fluctuations.
For those interested in a deeper analysis, there are additional InvestingPro Tips available, providing a comprehensive look at Camping World's financial performance and market outlook. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, and unlock the full range of expert insights and tips to guide your investment decisions.
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