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November 1, 2012

Polartec completes top management changes

LAWRENCE - Polartec, LLC, the Lawrence-based global supplier of performance fabrics, announced yesterday the appointment of Gary Smith as Chief Executive Officer, and Joe Robinson as Chief Financial Officer, completing the management succession process announced in July.

Smith, 49, previously served as President of the Outdoor Group for The Timberland Company, and as a partner with McKinsey & Company. A life-long New Englander, he is also a passionate cyclist and avid mountaineer.

Robinson, 46, joins Polartec after serving most recently as Vice President, Corporate Finance with inVentiv Health. He previously served as Vice President, Global Finance, and Vice President, North America Finance, for the Converse division of Nike. Additionally, his career includes 18 years of progressive growth in financial and operational roles with Procter & Gamble’s Gillette group.

Smith and Robinson, together with Jon Adelman, Polartec’s current Executive Vice President, Global Sales & Marketing, comprise Polartec’s new senior leadership team.

Board member Gregory Segall, CEO of Polartec’s owner Versa Capital Management, LLC stated, “The board is highly confident that the new senior management team...will continue the company’s successful growth trajectory and capitalize on Polartec’s many strengths and competitive advantages, including its leading edge product portfolio and world class customers.”

Smith succeeds Andrew J. Vecchione whose transition decision was also previously announced in July.

“We thank Andy Vecchione for his years of service...Andy’s knowledge of Polartec and its industry and his continuing interests as an equity participant and senior advisor with the board positions him to be a valuable contributor going forward, and we wish him the best with his future plans,” Segall said.

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