February 21, 2014 - Nautilus, Inc. (NYSE: NLS) announced today that Sid Nayar has been appointed as the Company’s Chief Financial Officer following an extensive national search. Mr. Nayar joined Nautilus on February 10, 2014 and his appointment as Chief Financial Officer will become effective following the filing of the Company’s Annual Report on Form 10-K for the year ended December 31, 2013.
Mr. Nayar will oversee all financial, accounting, and investor relations activities for the Company. He brings over 25 years of financial management experience to the position.
Mr. Nayar joins Nautilus from Congoleum Corporation, a manufacturer of residential and commercial flooring products that was publicly traded from 1995 until completion of a private restructuring in 2010. Mr. Nayar joined Congoleum in 1986 and held increasingly senior accounting and finance positions, including Senior Vice President, Finance and Chief Financial Officer since 1999. During his time at Congoleum, Mr. Nayar was engaged in all aspects of financial management and reporting. His tenure included the company’s growth and expansion, IPO and eventual restructuring as a private company. Mr. Nayar received a BSc in economics from the London School of Economics, and an MBA in finance from Rutgers University.
Bruce M. Cazenave, Chief Executive Officer, stated, “We are excited to have Sid join our management team and are confident that his strong financial background and depth of experience over his long tenure at Congoleum will provide significant contributions to our company as we continue to execute on our key strategic initiatives.”
Mr. Nayar commented, “Nautilus has a strong brand heritage, a commitment to product innovation, and recent execution against its strategic plan has created a strong foundation for continued profitable growth. I look forward to contributing as a member of Nautilus’ management team as we continue the focus on driving improvements in both revenue and margins while seeking to capitalize on exciting opportunities for future growth.”