Columbia filed a document with the U.S. Securities and Exchange Commission on Wednesday about the change, a move reflecting the material significance of McCormick's position: executive vice president of global sales and marketing. The document cited "personal reasons" for McCormick's exit and said chief executive Tim Boyle would take over his responsibilities on an interim basis. Other than Boyle and his mother, company board chairman Gert Boyle, McCormick was one of the two highest ranking executives in the Washington County-based company. Bryan Timm, executive vice president and chief operating officer, is the other.
McCormick's salary in 2011 was $510,000, part of a total compensation package of $2.36 million, according to the 2012 proxy statement. He held about 100,000 shares of Columbia stock as of April.
McCormick, who worked for Nike from 1992 to 2000, joined Columbia in August 2006 as vice president of sales and was named to his current position in October 2008. He also has worked for Golf Galaxy, Inc., and Callaway Golf Co.
"In the six years he's been here he has set the company on a course of innovation, brand enhancing and distribution and that will not change," company spokesman Ron Parham said. "That is something that is embedded in our strategies now and that's something that (Columbia) owes a great debt of gratitude to Mick."
At company product presentations, McCormick had become a favorite among gear writers for his unvarnished and sometimes entertaining manner in describing the state of the outdoor equipment industry in general and the quality of products produced by Columbia competitors in particular.
At a 2010 event in New York to introduce Columbia winter products, McCormick caused a stir when he made disparaging remarks about the waterproofing fabric, Gore-Tex.
"This industry needs to wake up and stop believing its own," untruths, McCormick said, using a term stronger and saltier than "untruths."
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