Cabela's Exec Retires

World's Foremost Bank names interim leadership.
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Cabela's

(CAB)

said David Roehr, CEO of its credit card unit, stepped down.

The Sidney, Neb., hunting-and-fishing outfitter said Roehr retired to pursue other interests and spend more time with family, effective immediately. Cabela's named director Orrin Wilson interim chairman of the credit card unit, which is called World's Foremost Bank.

"I have enjoyed my close personal relationship with the company's founders, Dick and Jim Cabela, who have provided me the opportunity to be part of such a successful and dynamic business," said Roehr. "I would especially like to thank the employees at World's Foremost Bank for all of their hard work and dedication, and congratulate them on the tremendous growth and success of the Bank over the last several years. At this point in my career, I have accomplished the goals I set for myself and Cabela's. The time is right for me to explore other personal and professional opportunities."

Wilson has over 38 years of banking experience, most recently serving as president of U.S. Bank and its predecessor organizations in Lincoln, Neb., for 13 years prior to his retirement in 2001.

Cabela's said its financial chief, Ralph Castner, would become interim CEO of World's Foremost Bank, while the unit's operating chief, Tom Boatman, has been named interim president of World's Foremost Bank.

On Friday, Cabela's shares fell 12 cents to $17.69.