Management Shakeup at S&W

[WT]

SPRINGFIELD, Mass.--Nov. 2, 2004--Smith & Wesson Holding Corporation the world's largest manufacturer of handguns for sporting, law enforcement, and military use, today announced changes in its management team and Board of Directors. Roy C. Cuny, until today the President and Chief Executive Officer of the Company, is no longer with the Company.

The Company's Nominations and Corporate Governance Committee is working with Spencer Stuart, an international search firm, to select a CEO to lead the parent of the legendary 152-year old Smith & Wesson Corp. The new CEO will be selected with high consideration given to capabilities to grow Smith & Wesson's worldwide market share and realize brand opportunities while continuing to focus on new product development, manufacturing efficiencies and company-wide operational excellence.

 

[WT]

More


MSNBC
November 3, 2004


In a short statement Tuesday night, Springfield-based Smith & Wesson said Roy C. Cuny ''is no longer with the company.'' A company spokesman did not immediately return a call seeking comment.
Also Tuesday, Smith & Wesson chairman G. Dennis Bingham decided to leave the board, citing time constraints. Following his resignation, directors selected fellow member Barry M. Monheit as the new chairman. Bingham became chairman in February.
The board also appointed Jeffrey D. Buchanan as a director. He is chief financial officer of Three-Five Systems Inc., an electronics manufacturing services company.
The company has appointed a three-person Office of the Chairman to run the company. Monheit; Robert L. Scott, the board's vice chairman; and chief financial officer John A. Kelly were selected.
Cuny joined the company in February 2003. Smith & Wesson relocated from Scottsdale, Ariz., to Massachusetts earlier this year.
In December, the top two executives at Smith & Wesson Holding Corp., chairman Mitchell Saltz and President Colton Melby, who had engineered the purchase of the company, stepped down in the midst of a Securities and Exchange Commission investigation into late filing of earnings statements.
Founded by firearm pioneers Horace Smith and Daniel B. Wesson, the 150-year-old company that is one of the nation's oldest and largest handgun makers has a storied history. Sharpshooter Annie Oakley, outlaw Jesse James and the U.S. Cavalry all fired Smith & Wessons.

 

[Standing Wolf]

Maybe somebody said the term "quality control" aloud at a board meeting.

 

[Jim K]

I am available. Probably pays pretty well.

Jim

 

[J Miller]

Betcha they'll sell out to a foreign buyer again.

What's this, the second management change they've had since the AZ company bought them out?

Sad, so sad.


Joe

 

[cerberus]

I am surprised

They are still making firearms

 

[Lone Star]

Note that the corporate recruiting statement said nothing about quality control, or ability to relate to S&W's traditional consumer base.

They'll probably hire some jerk from the automotive or washing machine industries. Remember Winchester in 1964?

Lone Star

 

[cerberus]

Glock and Sig

And some people wonder just how did Glock and Sig make such fast in roads into our Country. Hmmmmmmm. Quality maybe. Your moneys worth. Yeah it was something like that.

 

[4v50 Gary]

Besides Jim Keenan, I'm also available to be CEO. My goal would be to have a S&W produced gun adopted by the Military.

First, I get some blueprints for the 1911.

 

[Cool Hand Luke 22:36]

Sharpshooter Annie Oakley, outlaw Jesse James and the U.S. Cavalry all fired Smith & Wessons.

I thought Annie Oakley used a Marlin lever action rifle and a Colt revolver.

 

[Ivy Mike]

Besides Jim Keenan, I'm also available to be CEO. My goal would be to have a S&W produced gun adopted by the Military.

First, I get some blueprints for the 1911.

Fine with me, just make sure you chamber something in 10mm. We will love you long time and have no problem paying your salary. Just make sure your new military 1911 has a little bit better capacity...and less weight...and smaller...and...welll...more like a Sig.

Just price it like a CZ.

My ideal military pistol would be American made, and the rest is negotiable. I wish S&W would actually go after a contract like that.

 

[ckyllo]

Just make sure your new military 1911 has a little bit better capacity...and less weight...and smaller...and...welll...more like a Sig. Just price it like a CZ.

that isnt asking much, is it?

all the other handgun companys would be scared alot if a gun like that ever showed up.

 

[4v50 Gary]

OK, would you guys be happy if I, as CEO of S&W, copied a shortened ParaOrdnance LDA with a double stack magazine for the new US Service Pistol?

BTW, it'll take time for it to be adopted and it may be designated as the M-100 (Century Gun) or the M-2011. Real original, isn't it?