Armin Boehm
About Armin Boehm
Armin Boehm served as Escalade’s Chief Executive Officer and President from April 1, 2025 until his resignation on October 29, 2025; he was 58 at appointment and joined from Gibson Inc. where he was Chief Commercial Officer and a member of the Global Leadership Team . He holds an MBA from FH Ludwigshafen and a Diploma in Engineering from FH Coburg, with prior senior roles at Amer Sports, Puma, Levi Strauss and adidas-Salomon AG . During Q1 2025 under his leadership, Escalade delivered net sales of $55.5m, gross margin of 26.7% (up ~170 bps YoY), EBITDA of $4.9m (vs. $4.4m prior year), and diluted EPS of $0.19; management also highlighted completion of control remediation and net debt at ~0.8x TTM EBITDA . He emphasized operational flexibility around tariffs, disciplined capital allocation, and brand-led growth in his initial communications .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Gibson Inc. | Chief Commercial Officer; Global Leadership Team | Through early 2025 (prior role) | Drove growth across instrument and sound solutions portfolio (Gibson, Epiphone, Mesa Boogie, Kramer, KRK) . |
| Amer Sports Corporation | Executive roles leading commercial and marketing operations across the Americas | Jul 2012–Dec 2019 | Led commercial/marketing for Salomon, Arc’teryx, Atomic, Suunto, Wilson . |
| Puma (Hong Kong/Shanghai; Germany HQ) | Sales, merchandising, product creation; DTC growth; global apparel product management | Not specified | Spearheaded DTC growth and establishment of Puma China; led global apparel product management during growth period . |
| Levi Strauss | Innovation initiatives | Not specified | Led innovation initiatives . |
| adidas-Salomon AG | R&D and product innovation manager | Not specified | Early career technical/product roles . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Gibson Inc. | Member, Global Leadership Team (in addition to CCO role) | Prior to joining Escalade in 2025 | Contributed to global leadership and commercial strategy execution . |
Fixed Compensation
| Component | Amount/Terms | Period/Timing | Source |
|---|---|---|---|
| Base Salary | $500,000 annual, pro-rated for 2025 | Effective upon start (Apr 1, 2025) | |
| Signing Bonus | $330,000 cash | Payable upon commencement | |
| Relocation | Up to $225,000 reimbursed | To relocate from Nashville, TN to Evansville, IN |
Performance Compensation
| Incentive Type | Metric(s) | Target | Actual/Payout | Vesting/Timing | Notes |
|---|---|---|---|---|---|
| Annual Cash Bonus (Annual Profit Improvement Plan) | Company revenues and profits (plan uses these drivers per CD&A) | 100% of base salary, pro-rated for 2025 | Minimum guaranteed $300,000 for 2025 | Paid per plan year | Company’s CD&A describes bonus pool allocation based primarily on target percentages of Company revenues and profits; specific weightings not disclosed . |
Equity Ownership & Alignment
| Item | Detail | Vesting/Status | Source |
|---|---|---|---|
| Inducement RSUs | Fair value equal to $500,000 based on 30-day VWAP at start | Vests 1/3 on each of Apr 1, 2026/2027/2028, subject to continued employment; adjusted if start delayed | |
| Inducement Restricted Stock | 35,000 shares | Restrictions lapse on 5th anniversary of start, subject to continued employment | |
| Hedging/Puts/Calls/Margin | Directors/officers prohibited from hedging, puts/calls, and purchasing on margin per insider trading policy | Ongoing policy | |
| Beneficial Ownership Disclosure | Not enumerated in 2025 proxy beneficial ownership table (record date Feb 25, 2025 before Boehm’s start) | N/A | |
| Post-Resignation Equity Status | Since no RSUs/restricted stock had vested as of Oct 29, 2025, all awards were forfeited | Forfeited at resignation |
Implication: Boehm had no vested equity at resignation; no near-term selling pressure from vesting schedules. Company policy prohibits hedging and options trading; pledging not specifically disclosed .
Employment Terms
| Term | Details | Source |
|---|---|---|
| Appointment | CEO & President effective on/about April 1, 2025; age 58 at appointment | |
| Resignation | Resigned Oct 29, 2025; Interim CEO appointed Oct 29, 2025 | |
| Offer Letter Economics | Base $500,000; 2025 target bonus 100% of base (pro-rated) with $300,000 minimum; RSUs FV $500,000 vesting 2026–2028; 35,000 restricted stock 5-year restriction; $330,000 sign-on; up to $225,000 relocation | |
| Severance/Separation Agreement (Amended) | $800,000 cash payable first payday Jan 2026; Company-paid COBRA for 12 months; all unvested equity forfeited | |
| Clawback | Company clawback policy allows recovery of excess incentive comp tied to financial measures for 3 years preceding determination of restatement/misconduct | |
| Good Reason/Cause | Defined in Executive Agreement (relocation >50 miles; removal from CEO/President; material breach; etc.; Cause includes fraud, felony, willful misconduct/negligence, willful failure to perform after notice) | |
| Non-Compete/Non-Solicit/Non-Disclosure | Contained in Waiver/Release/Non-Competition/Non-Solicitation/Non-Disclosure Agreement exhibits; injunctive relief available; arbitration per Executive Agreement | |
| Section 16 Reporting Post-Resignation | May remain subject to Section 16 reporting up to six months post-resignation; Company to file on Executive’s behalf |
Performance & Track Record
| Period | Net Sales ($m) | Gross Margin (%) | EBITDA ($m) | Diluted EPS ($) | Notes |
|---|---|---|---|---|---|
| Q1 2025 | 55.5 | 26.7 (vs 25.0 prior year) | 4.9 (vs 4.4 prior year) | 0.19 | CFO cited lower operational costs, facility consolidation, and completion of control remediation; net debt ~0.8x TTM EBITDA; total debt $23.8m; CFO reiterated strong internal controls post-remediation . |
Selected qualitative commentary:
- Boehm emphasized proactive tariff mitigation, supply chain flexibility, lean cost structure, and disciplined capital allocation to drive long-term value .
Investment Implications
- Pay-for-performance alignment: 2025 structure combined a guaranteed minimum bonus ($300k) and time-based inducement equity (RSUs and restricted stock) rather than performance share units, reducing performance sensitivity in the first year; enterprise-wide bonus design remains anchored to revenues and profits .
- Retention risk realized: Tenure lasted ~7 months; separation terms delivered $800k cash and 12 months of COBRA, with all equity forfeited (no acceleration), indicating negotiated exit without ongoing equity overhang .
- Selling pressure: With no vested equity and forfeiture of all awards at resignation, there is no impending insider selling from Boehm’s vesting schedules; company policy prohibits hedging and options trading, though pledging is not expressly addressed in the cited policy .
- Governance lens: Clawback policy is robust (three-year lookback tied to financial restatements/misconduct), and non-compete/non-solicit protections are in force; Section 16 arrangements post-resignation were explicitly addressed, ensuring reporting continuity .