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Tuesday, 17 April 2018

Motorsport Aftermarket Group (MAG)

Graves Announces Retirement from MAG

Motorsport Aftermarket Group (MAG) has confirmed that President and CEO Andy Graves has made the decision to retire from MAG effective July 31, 2018.

Andy Graves joined MAG as CEO in January 2015 and has overseen a tough period in the group’s history

Graves has been MAG’s CEO since January 2015 and said: “This is a personal decision based on my desire to spend more time with my family, pursue other interests, and engage more fully in service opportunities. I believe the timing for me to retire this summer coincides well with MAG embarking on a new chapter; this is the appropriate time for an effective transition of leadership.”

MAG has launched an external search for a new CEO and says that it is “confident that the company will welcome a new leader who will bring a passion for powersports, along with strong consumer, dealer and operating insights.” The Board has asked Graves to provide consulting support through July of 2018 to help facilitate this transition.
David Robbins, Managing Director of Monomoy Capital Partners, stated: “We are thankful for Andy’s strong leadership of MAG through the bankruptcy process and are grateful for his willingness to provide a smooth transition in this interim period.  We wish him the best in his retirement.
“MAG now has a healthy balance sheet and an ownership group eager to support new growth opportunities. The company is well positioned to lead the industry by developing and delivering the most desired brands and innovative products to riders anywhere they shop, from dealer to digital.”