WESTPORT, Conn., July 11, 2013 /PRNewswire/ -- Compass Diversified Holdings (NYSE: CODI) ("CODI" or the "Company"), an owner of leading middle market businesses, announced today that Ryan J. Faulkingham, CPA, Director of Financial Reporting, has been promoted to Chief Financial Officer (CFO) effective November 30, 2013. He will succeed James J. Bottiglieri, who will retire as of the same date. Mr. Bottiglieri has served as CFO since CODI's inception in 2005 and will remain a member of the Company's Board of Directors.
Alan Offenberg, CODI's Chief Executive Officer, commented, "Jim has played an integral role in the growth of our Company during his tenure as CFO and we are grateful for his significant contributions. Under his leadership, CODI has built and maintained a highly effective and transparent finance operation, a core differentiator for our Company. Our strong financial infrastructure will continue to serve CODI well in the years ahead and we are pleased Jim will remain as CFO through November to ensure a smooth transition and maintain his directorship on CODI's Board. We wish him all the best in his upcoming retirement."
"At CODI, we pride ourselves on the depth of our accomplished team and I am delighted Ryan Faulkingham has been promoted to CFO," added Mr. Offenberg. "Ryan's promotion is well deserved based on the strong skillset and high degree of integrity he has demonstrated since joining CODI five years ago. His deep knowledge of our Company as well as our subsidiary businesses, combined with his dedication and natural leadership, provide an ideal fit to succeed Jim as we continue to leverage our balance sheet strength and execute our growth strategy."
Mr. Faulkingham, 36, has approximately 15 years of experience in finance and auditing, and is a Certified Public Accountant. In his new capacity as CFO, he will report to Mr. Offenberg and oversee corporate financial reporting, general accounting, financial strategy, budgeting and forecasting, risk management, and more. Prior to joining CODI in 2008, Mr. Faulkingham served as a Vice President at Merrill Lynch & Co., where he prepared regulatory filings, performed technical accounting research and implemented policies to ensure compliance with internal control standards. From 2003 to 2006, he was Manager, Accounting and External Reporting at WebMD Health Corp., serving as a key contributor to the company's 2005 initial public offering and lead finance member for numerous mergers and acquisitions. Mr. Faulkingham began his career in public accounting at Arthur Anderson and later at KPMG. He received a BS in Accounting from Lehigh University and an MBA from Fordham University.Mr. Faulkingham stated, "I am proud and honored to be appointed as CODI's CFO. The Company's diverse mix of leading middle market businesses and strong future prospects provide an exciting opportunity. I look forward to working closely with Alan and the Board, and preserving the Company's financial stewardship while investing in high-return organic growth initiatives and pursuing accretive acquisitions for the benefit of our owners."