Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
Outdoor gear and apparel retailer Cabela’s has named Thomas Millner CEO and president. He replaces Dennis Highby who will become a vice chairman of the board.
Outdoor gear and apparel retailer Cabela’s has named Thomas Millner CEO and president. Millner also is now a member of the board.
Millner comes from Freedom Group Inc., the parent company of Remington Arms Company Inc. where he was CEO. He will replace Dennis Highby who will become a vice chairman of the board.
"I am excited for the opportunity to join Cabela`s, which has a rich history, the most powerful brand in the outdoor industry and a unique passion for customer service," Millner says. "I have always admired Cabela`s management and founders, and what they established with their love for the outdoors. I look forward to building on the company`s success."
Millner worked for Remington for 15 years, 10 of them as CEO. Remington and Cabela’s have a long-established retailer-vendor relationship, he says.
"Tommy Millner`s many years in and understanding of the industry, respect for Cabela`s values, passion for the outdoors and knowledge of the competitive landscape will be very important in his new position at Cabela`s," Highby says.
Highby joined Cabela`s as its 40th employee and first salaried employee 33 years ago. He has been CEO and president since 2003. During his time with the merchant, the company grew to 13,000 employees in the U.S. and Canada.
Highby also helped grow the retailer’s revenue from $4 million to $2.55 billion, worked to expand Cabela`s from a catalog company into a multichannel retailer with 29 retail stores and helped take the company public in 2004.
Cabela’s, No. 40 in the Internet Retailer Top 500 Guide, had $459 million in web sales in 2007 according to Internet Retailer estimates.