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Press release from Business Wire

Cabela's Inc. Announces Selection of Sean Baker as Next Chief Executive Officer of World's Foremost Bank

Wednesday, August 22, 2012

Cabela's Inc. Announces Selection of Sean Baker as Next Chief Executive Officer of World's Foremost Bank16:01 EDT Wednesday, August 22, 2012 SIDNEY, Neb. (Business Wire) -- Cabela's Incorporated (NYSE:CAB) announced today that as part of a planned succession strategy, Sean Baker has been appointed President of World's Foremost Bank and will be appointed Chief Executive Officer effective January 1, 2013. Mr. Baker will replace Joseph M. Friebe, whose planned retirement was announced in June. “We are very pleased our leadership development efforts and internal succession planning process worked so well to provide us a leader of the caliber of Sean Baker,” said Tommy Millner, Cabela's Chief Executive Officer. “Throughout his long career at Cabela's, Sean has demonstrated strong leadership, excellent judgment, and a deep commitment to our Core Values and developed a financial background ideally suited to lead our Cabela's CLUB® Visa program. I have the utmost confidence in Sean's leadership and look forward to even stronger contributions from our Cabela's CLUB Visa program as we move forward.” Mr. Baker began his career with Cabela's as a Financial Analyst in 1997. In 2003, he was promoted to Director of Accounting and Finance/Controller. In 2007, Mr. Baker became Director of Finance and was promoted to Senior Director of Finance in May 2011. In December 2011, Mr. Baker was promoted to the position of Senior Vice President, Business Development of World's Foremost Bank. During his time with the financial services business, Mr. Baker has led strategic initiatives for the Cabela's CLUB Visa program to continue to build loyalty with Cabela's best customers. Prior to joining Cabela's, Mr. Baker was a certified public accountant with Grant Thornton. About Cabela's Incorporated Cabela's Incorporated, headquartered in Sidney, Nebraska, is a leading specialty retailer, and the world's largest direct marketer, of hunting, fishing, camping and related outdoor merchandise. Since the Company's founding in 1961, Cabela's® has grown to become one of the most well-known outdoor recreation brands in the world, and has long been recognized as the World's Foremost Outfitter®. Through Cabela's growing number of retail stores and its well-established direct business, it offers a wide and distinctive selection of high-quality outdoor products at competitive prices while providing superior customer service. Cabela's also issues the Cabela's CLUB® Visa credit card, which serves as its primary customer loyalty rewards program. Cabela's stock is traded on the New York Stock Exchange under the symbol “CAB”. Cabela's IncorporatedInvestors:Chris Gay, 308-255-2905orMedia:Joe Arterburn, 308-255-1204