The board of directors of Nautilus Inc. and Gregg Hammann announced today that Hammann is stepping down from his position as president and chief executive officer of the company, as well as resigning his seat on the company's board, effective immediately.
Robert S. Falcone, the company's current lead independent director, will serve as chairman and will also fill the role of president and chief executive officer on an interim basis, effective immediately.
The independent directors have formed a search committee and will begin the search for a new chief executive officer.
Falcone president and CEO of GCR Custom Research, served as Chief Financial Officer of Nike Inc., and was a partner of Price Waterhouse LLP. He is a board member and former audit committee chairman of RadioShack Corp.
