Weber Appoints CTO Alan Matula As Interim CEO

(RTTNews) - Weber Inc. (WEBR) announced Monday that Chief Technology Officer Alan Matula has been appointed interim Chief Executive Officer, effective immediately. CEO Chris Scherzinger is departing from his roles on the management team and Board of Directors. A search for a permanent CEO will commence immediately.

Matula brings more than 40 years of experience to the role of interim Chief Executive Officer. He has served as Chief Information Officer at Weber since 2015 and was named Chief Technology Officer in March of this year. Prior to Weber, Matula served as Chief Information Officer for Royal Dutch Shell plc.

Weber also announced the below preliminary estimates for results for the third quarter. It now expects net sales for the quarter in a range of $525 million to $530 million. It also expects to report net loss for the quarter.

As a result of the uncertainty created by the previously referenced market factors, the Company is withdrawing its fiscal year 2022 Net Sales and Adjusted EBITDA guidance.

The Weber Board of Directors has also suspended the quarterly cash dividend and is committed to working with lending partners to remain in compliance with the covenants in its credit facilities.