Columbia Management Adjusts Appointment Of New President

To support sustained high growth, the famous outdoor sportswear company Columbia Sportswear Co. has made some strategic adjustments to management.

The chief executive of Tim Boyle, Columbia commented: in 2014, our global net sales exceeded US $2 billion 100 million under the strong growth engine of the brand portfolio. Under the constant exchange rate, we expect to maintain double-digit growth in 2015.

Today we announce that the adjustment to management is to ensure that we can better explore the global growth potential of every brand within our portfolio.

During the adjustment, many senior management positions of Columbia company were promoted to new positions.

The founder's son, Tim Boyle, President and chief executive officer of Columbia company since 1988, will continue to lead the company as CEO in the future, and will no longer serve as global CEO.

Bryan Timm, executive vice president and chief operating officer of Columbia for 17 years, will take over as chief executive officer and continue to serve as chief operating officer.

The appointment will take effect from February 25th.

Peter Bragdon was promoted to executive vice president, chief executive officer and general counsel of the company.

Bragdon has served in Columbia company for 13 years. Since 2010, he has served as senior vice president in charge of legal affairs. He has also served as general counsel and general secretary of the company.

Promoted to the new position, executive vice president and chief financial officer of the finance department, and will take effect immediately.

Cusick has served in Columbia company for 13 years, and has worked in several departments of the financial system. Since 2010, he has served as senior vice president and chief financial officer in charge of finance.

"They have been in Columbia for more than ten years, and I have great confidence in their leadership ability. I believe they will continue to work closely with me in the future to enhance the sustainable profitability of our brand."

Tim Boyle has shown great confidence in the management adjustment of the company.

All three senior managers continue to report directly to CEO Tim Boyle.

Founded in 1938, Columbia

The company has developed from a neighbor shop selling clothes and accessories to the world's first outdoor sportswear brand. It owns five outdoor brands, including Columbia, Sorel, Mountain Hardwea, prAna and Montrail.

Headquartered in Portland, Oregon, the company has more than 3000 employees and distributes and sells Columbia products in over 100 countries, with more than 13000 retail outlets worldwide. In 2011, the total revenue of the company was $1 billion 694 million.

It was $1 billion 669 million 600 thousand in 2012 and $1 billion 680 million in 2013.

2014 full year, Columbia

The net sales increased by 415 million 600 thousand US dollars, or 25 percentage points to 2 billion 100 million US dollars, higher than the previous 2 billion 60 million US dollars. The operating income surged from 51% to 198 million 800 thousand US dollars, and the gross profit margin of net sales increased from 7.8% to 9.5% last year. The net income increased from 45% to 137 million 200 thousand dollars in the whole year, and the earnings per diluted share were 1.94 dollars (the net income in 2013 was USD, the earnings per share were USD).

In 2014, the Columbia new China joint venture company achieved a net sales of US $161 million 400 thousand, accounting for about 7.7% of the total.