Press release from Business Wire
Dick Cabela to Transition to Chairman Emeritus of Cabela's, Jim Cabela to Become Chairman of the Company They Founded
Monday, April 22, 2013
Dick Cabela to Transition to Chairman Emeritus of Cabela's, Jim Cabela to Become Chairman of the Company They Founded16:00 EDT Monday, April 22, 2013
SIDNEY, Neb. (Business Wire) -- Cabela's Incorporated (NYSE:CAB) today announced the long-planned transition of its co-founder and Chairman, Richard N. Cabela, to the role of Chairman Emeritus, effective June 5, 2013, the date of Cabela's 2013 Annual Meeting of Shareholders. Dick's brother, James W. Cabela, Cabela's Vice Chairman and co-founder, will become Chairman following the 2013 Annual Meeting of Shareholders.
“Dick Cabela is a legend at Cabela's as well as throughout the entire outdoor industry,” said Tommy Millner, Cabela's Chief Executive Officer. “From their kitchen table in Chappell, Nebraska, 52 years ago to pioneering direct catalog marketing and experiential retailing, Dick and his wife, Mary, revolutionized every aspect of outdoor product sales. Dick's passion for the outdoors transformed Cabela's from a small company in western Nebraska to a $3.1 billion globally recognized brand.”
“We are particularly pleased our long-term succession plans once again worked,” Millner said. “This has been a key focus over the past four years for our management team and Board of Directors at every level of leadership within the organization.”
“Dick's enduring legacy continues, and I look forward to continuing to learn from Dick's wise counsel and advice in his new role as Chairman Emeritus,” Millner said. “On behalf of Cabela's employees, shareholders and customers, I would like to thank Dick and Mary Cabela for their passion for the outdoors and vision and business acumen, which led to the founding of this extraordinary Company. Dick, Mary and Jim weren't the first to offer outdoor goods through the mail, but nobody did it better or with a greater focus on customer service. This passion for delivering legendary customer service will forever be Cabela's foundation.”
“As we look toward the future, we are very pleased to have our co-founder, Jim Cabela, become Chairman,” Millner said. “Jim's leadership has been a powerful force in building our Company over the last five decades. Jim's passion for the outdoors and his role as our new Chairman will ensure we remain focused during this exciting growth period.”
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".
Chris Gay, 308-255-2905
Joe Arterburn, 308-255-1204