Solo Brands has parted ways with CEO and president Chris Metz after just 13 months, as he steps down and resigns from the board of directors.
Metz will stay on until 7 March 2025 to assist with the new CEO transition.
According to a statement, the resignation was not due to a disagreement with the company’s board or policies.
The company has appointed John Larson, a member of the board of directors, as interim CEO and president while it actively seeks a permanent replacement.
Larson said: “I am honored to be named interim CEO and to continue working closely with the board and management team to drive Solo Brands forward during this time.
“We are committed to continue building the next generation of digitally connected commerce and remain laser-focused on executing the strategic plans laid out and leading with product innovation.”
Larson joined Solo Brands’ board in December 2024 and previously served as CEO of manufacturer Bestop.
Matt Hamilton, chairman of the board, added: “John has the strategic expertise and necessary leadership skills to serve as interim CEO at Solo Brands.
“We are confident that his background and experience leading enthusiast brands will ensure a smooth transition while the search process for a permanent CEO is underway.”
Metz’s departure follows declining sales and revenue for the company over the past years.
After joining the company in January 2024, Metz planned to spearhead initiatives to drive a financial turnaround for the company.
However, the company continued to face financial headwinds. In Q3 of 2024, the company saw its net sales drop by 14.7% to $94.1 million, while its direct-to-consumer revenues decreased by 15.5% to $64.5 million.
Click here to sign up to Retail Gazette‘s free daily email newsletter
