Compass Diversified, parent company of Costa Mesa’s 5.11 Tactical and previous owner of Lugano Diamonds, on March 1 increased its number of board directors from seven to eight and elected two new executives to join.
Following the resignation of RAJ Capital’s Alex Bhathal from his seat in February, Compass selected Eugene Kim and Glenn Richter to fill the vacancy.
Kim counts more than 25 years in private equity and investment banking and is the co-founder and managing partner of independent advisory firm Compass LKL. He has also held roles at Goldman Sachs International and UBS/Warburg Dillon Read.
Richter was most recently the chief financial and business transformation officer at International Flavors & Fragrances Inc. (NYSE: IFF) for almost four years. He has previously worked in financial roles at TIAA, RR Donnelley, Sears, Roebuck & Co. and PepsiCo’s Frito-Lay.
“Eugene brings deep experience in private-market transactions and oversight of diversified operating businesses that will be immediately valuable to our Board,” Board Chair Larry Enterline said in a statement.
“Glenn is a proven executive with extensive expertise in finance, operations and capital markets, and his track record of leading complex business transformations makes him an exceptional addition,” Enterline added.
Shares of Compass Diversified fell 5% to $6.95 apiece during midday trading with a market cap of $523 million (NYSE: CODI).
