Business people : Polartec Names New CEO and CFO

Polartec, LLC appointed Gary Smith CEO and Joe Robinson as CFO, successfully completing the management succession process announced in July.

Smith, 49, brings to Polartec a distinguished track record in business, including extensive expertise in the outdoor and apparel industries. He previously served as president of the Outdoor Group for The Timberland Company, and as a partner with McKinsey & Company. A life-long New Englander and an accomplished entrepreneur, Smith is also a passionate cyclist and avid mountaineer.

Robinson, 46, joins Polartec after serving most recently as vice president, corporate finance with inVentiv Health. He previously served as vice president, global finance, and vice president, North America finance, for the Converse division of Nike. Additionally, his career includes 18 years of progressive growth in financial and operational roles with Procter & Gamble’s Gillette group.

Smith and Mr. Robinson, together with Jon Adelman, Polartec’s current executive vice president, global sales and marketing, comprise Polartec’s new senior leadership team.

Board member Gregory Segall, CEO of Polartec’s owner, Versa Capital Management, LLC stated, “We are delighted to attract an executive with Gary’s business acumen, strategic perspective and operational experience to Polartec as the CEO. The board is highly confident that the new senior management team, working with Polartec’s dedicated employees in North America and around the world, will continue the company’s successful growth trajectory and capitalize on Polartec’s many strengths and competitive advantages, including its leading edge product portfolio and world class customers.”

Smith’s appointment is effective Nov. 1, 2012, at which time he will succeed current CEO Andrew J. Vecchione whose transition decision was also previously announced in July.

Segall added, “We thank Andy Vecchione for his years of service and success with Polartec and for assisting with this leadership transition. Andy’s knowledge of Polartec and its industry and his continuing interests as an equity participant and senior advisor with the board positions him to be a valuable contributor going forward, and we wish him the best with his future plans."

( SportsOneSource Media )