PAYSON, Utah, Jan. 3, 2013 /PRNewswire/ -- Liberty Safe and Security Products, Inc. ("Liberty" or the "Company") today announced that Kim Waddoups has been promoted to Chief Executive Officer (CEO), effective immediately. He succeeds Jeff Talley, who has stepped down from his role with the Company to take a sabbatical as planned. Mr. Waddoups has approximately 10 years of experience at Liberty. Previously, Mr. Waddoups served as President, where he led the Company's sales and marketing initiatives. He joined Liberty in 2003 as Chief Financial Officer (CFO) and was promoted in 2012 to President. From 1989 to 2003, Mr. Waddoups held various senior-level positions at Easton Technical Products, a sports equipment manufacturer and division of Jas D. Easton, Inc. "We are proud to promote Kim as our new CEO," said Alan Offenberg, CEO of Compass Diversified Holdings and Chairman of Liberty. "Since joining our Company approximately 10 years ago, Kim has played a key role increasing sales and profitability while strengthening Liberty's brand recognition. His deep knowledge of our Company and successful track record provide an ideal fit and will help to ensure a seamless transition. We are confident Kim's extensive experience and proven dedication, combined with his strategic vision, will lead Liberty to continued success." Mr. Offenberg added, "Jeff has served approximately 17 years at Liberty, including 11 years as CEO. During this time, Liberty has evolved into a market leader for premium home and gun safes, achieving significant financial growth and establishing a solid foundation for the future. We thank Jeff for his tireless efforts and valuable contributions, and support his desire to take a well-earned sabbatical." "I am excited to assume the leadership role at Liberty," said Mr. Waddoups. "The Company has built a premier reputation for providing customers with high-quality safes that are manufactured in the U.S. and is well positioned for further growth. With the investments we have made in strengthening our operational platform and expanding our product offerings, we expect to maintain Liberty's positive momentum in the market. I look forward to working closely with our talented staff and driving future performance."