The Nautilus Group Inc. has accepted the resignation of Kevin Lamar, its chief operating officer. The Vancouver, WA-based exercise equipment marketer did not give a reason for his resignation.
Nautilus was profitable in first quarter 2004, generating net income of $6.4 million on sales of $130.9 million. But its income levels fell by more than half from first-quarter 2003’s net income of $13.7 million. For that quarter, the company generated sales of $129.4 million.
During all of 2003, the firm generated net income of $34.4 million and sales of $498.8 million. But both its sales and income were stronger during 2002, when it generated $97.9 million in net income and $584.7 million in sales.
In addition to Lamar’s resignation, the company also announced that Holly B. Valkama has joined the firm as senior vice president of manufacturing and operations; Pat A. Warner was promoted to senior vice president of product development; and Wayne M. Bolio was promoted to senior vice president of law and general counsel from senior vice president of human resources.
Furthermore, Darryl K. Thomas, senior vice president for strategic planning assumed direct responsibility for international operations and Tim Hawkins, chief customer officer, has been given the responsibility of customer service in addition to his sales responsibilities.
