Fox Factory has announced that board of directors member Joseph Hagin has stepped down in order to accept an appointment as the Deputy Chief of Staff for Operations at The White House.
“On behalf of our management team and Board of Directors, I would like to thank Joe for his thoughtful contributions, commitment and leadership on our Board over the last several years,” commented Larry L. Enterline, the Company’s Chief Executive Officer. “We appreciate Joe’s insights, his understanding of the importance of strong governance and his commitment to our shareholders.”
Mr. Hagin has served as a director on the Company’s Board of Directors since June 2013 and joined the Company as a director of its operating subsidiary, Fox Factory, Inc., in January 2009. His positions on the Company’s Board of Directors included Chairman of the Nominating and Governance Committee and member of the Audit Committee.
The Board intends to fill the vacancy created by Mr. Hagin’s departure in due course, when it identifies an appropriate candidate. In the interim, the Board intends to make an appointment to its Audit Committee to ensure ongoing compliance with the applicable NASDAQ listing rules.