2004: Newsmakers - President of Huffy’s Gen-X to leave in July
John Collins, president of Huffy Corp.’s Gen-X division – which includes golf brands such as Tommy Armour – will leave the company in July, according to Brandweek and a separate source familiar with the situation.
News of Collins’ departure comes on the heels of Huffy’s announcement to lay off approximately 100 employees, or about 20 percent of its work force, over the next five to eight months. The majority of the job losses will come from Gen-X businesses, which also include the Ram, TearDrop and Zebra golf brands, and various action-sports product lines.
Company officials could not be reached for comment, and it was unclear how these changes would affect the four golf brands.
Huffy also plans to consolidate much of its operations at its headquarters in Miamisburg, Ohio. It is expected that the Gen-X division – with the exception of its administrative offices in Toronto – will be a part of this relocation.
For the fourth quarter ending Dec. 31, 2003, Huffy reported a loss of $11.8 million on sales of $121 million. By comparison, the company posted a loss of $4.2 million on sales of $123 million in the same period of 2002. When announcing the results Feb. 17, Huffy CEO Paul D’Aloia cited, in particular, the disappointing fiscal performance of its action-sports goods, basketball backboards and in-line skates.
Huffy does not break out results for its golf brands, but D’Aloia said: “The bicycle, snowboard and golf product lines all finished with solid earnings, and in the case of golf and snowboards, strong revenue growth.”