HomeGrill ManufacturersWeber CMO and Chief Growth Officer Out, Interim CEO to Make $1.85M

Weber CMO and Chief Growth Officer Out, Interim CEO to Make $1.85M

As part of Weber’s restructuring plan they previously announced that their CEO was gone and they were cutting 10% of staff. We reported last week that their President, Americas was also replaced. After reviewing a recent SEC filing, the executive cuts didn’t stop there. Weber’s Chief Marketing Officer, Mary A. Sagripanti and Tony J. Shay, their Chief Executive of 1952 Ventures LLC and Chief Growth Officer also have departed.

A notable business question with the departing executives is with the departure of Tony Shay, does 1952 Ventures LLC also close? 1952 Ventures launched in November of last year as an accelerator of new growth platforms within Weber. The internal venture arm was started with Tony Shay at the helm. Since its inception, we haven’t seen any additional investments, products, or news coming out 1952 Ventures, so we wonder if it still is operational with the management changes.

Another bit of information that has been released with the management changes is the new compensation for interim CEO Alan Matula. With his appointment, the Weber Compensation Committee of the Board approved an increase to $925,000 in salary with a target annual incentive equal to his salary, giving him a total cash compensation of $1.85 million not including equity.

- Get news like this in your email every Saturday - always free, never spam -

Subscribe to the CookOut News Newsletter - The Weekend Refuel

* indicates required

Most Popular