Colt Defense Announces Senior Management Change

[mrraley]

WEST HARTFORD, Conn. - Colt Defense LLC, a leading developer and manufacturer of small arms for the global military, law enforcement and sporting markets, today announced the appointment of Dennis Veilleux as President and CEO effective immediately. Mr. Veilleux was most recently President and CEO of New Colt Holding Corp., which was acquired by Colt Defense last month. Mr. Veilleux replaces Gerald R. Dinkel, who will remain on Colt Defense's Governing Board.

 

 

 

 

http://www.thetacticalwire.com/story/297106

Edited August 27, 2013 by mrraley

[98Z5V]

I see one thing that stands out in that article -

 

Dennis has 27 years of experience in the firearms industry and has achieved considerable success in his stewardship of New Colt Holding Corp.'s growth in the commercial firearms market.

 

They've been engrossed in the military market for so long, and so deep, and all that's changing now.  They NEED to grow in the civilian market.

 

A couple speculations, on my part -

 

1.  The "old leadership" wanted to move out of CT based on recent events, and company higher-ups didn't want that, so the "old leadership" was canned, or...

 

2.  The "old leadership" DID NOT want to move out of CT, and were canned, so "new leadership" can make that decision.  And get them out.

 

It's gotta be one of those two things, when the boiling water settles.

 

Business Week info on "New Colt"  :

 

http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=165444

[planeflyer21]

They've been engrossed in the military market for so long, and so deep, and all that's changing now.  They NEED to grow in the civilian market.

 

That happens when those pesky DoD contracts go to your competition.  <laughs>