Fox Factory Announces CEO Transition

DULUTH, GA., OCT. 16, 2026 (GLOBE NEWSWIRE) — Fox Factory Holding Corp. (NASDAQ: FOXF) today announced that its Board of Directors has decided to make a leadership change. Effective October 16, 2026, the Board has appointed independent director Douglas ('Doug') Grimm as Interim Chief Executive Officer, and Mike Dennison is stepping down from his role as CEO and a member of the Board. The Board has retained Heidrick & Struggles to assist in identifying a permanent CEO. Mr. Grimm, who is not a candidate for the permanent CEO role, will step down from the Audit Committee, but will remain on the Board and continue to serve on the Transformation Committee. Alan Bazaar will succeed Mr. Grimm as Chair of the Audit Committee. 'Doug is an accomplished executive with more than four decades of operating experience in the automotive and industrial sectors, and we are confident he is the right interim leader to accelerate execution in our businesses,' said Jean Hlay, Chair of the Board. Preliminary Q3 fiscal 2026: net sales of $336 million to $340 million, compared to guidance of $355 million to $380 million; adjusted EBITDA of $38 million to $42 million, compared to guidance of $46 million to $54 million. Fiscal 2026 outlook lowered to net sales of $1.35 billion to $1.38 billion and adjusted EBITDA of $140 million to $150 million. The release also schedules an earnings conference call for November 5, 2026.