Read the full article here.
Nautilus Inc. has hired a veteran Portland financial executive as its new chief financial officer.
Pearce joins the Vancouver-based fitness equipment maker (NYSE: NLS) from Warn Industries, where she was CFO between 2000 and early 2012. Warn makes equipment and accessories for off-road vehicles. While at Warn, Pearce helped lead an evaluation of strategic options that eventually led to the acquisition of Warn by Dover Corp.
Pearce previously held financial management positions at Gardenburger and Blount International.
“We are excited to have Linda join our management team and are confident that given her strong financial background, combined with her strategic planning and operational experience, that she will provide significant contributions to our company as we continue to execute on our key strategic initiatives," said Nautilus CEO Bruce Cazenave in a statement. "Linda’s financial expertise will be instrumental as we design, launch, and market new products with a focus on continuing to improve product and operating margins.”
Pearce joins Nautilus as Cazenave, who took over as CEO in July 2011, continues to execute on a strategy designed to erase years of decline with new innovations and products.
The company has struggled in the past 12 months to remain in compliance with New York Stock Exchange listing regulations that require shares to remains above $1. Nautilus has managed to remain above the threshold recently despite a recent two-day 27 percent decline in its share price.
Nautilus shares lost more ground Monday, closing down 6.87 percent to $2.44. Its stock has traded between $1.35 and $3.64 over the past 52 weeks.
Pearce is a 1988 graduate of PSU's School of Business Information Systems program and a 1990 graduate of the School's Accounting Post-bac program.