Leadership & Pay ·
Fox Factory CEO Michael Dennison steps down; Douglas Grimm named Interim CEO as company lowers fiscal 2026 outlook
FOXFFox Factory Holding Corp
Fox Factory Holding Corp. announced that CEO Michael Dennison is stepping down and resigning from the Board, effective October 15, 2026. The Board appointed independent director Douglas J. Grimm as Interim CEO, granting him a $1.065 million annual base salary, up to $3.6 million in equity awards, and a $600,000 completion bonus. Concurrently, the company reported preliminary third-quarter fiscal 2026 net sales of $336 million to $340 million and adjusted EBITDA of $38 million to $42 million, both below guidance due to lower Marucci Sports performance and supply disruptions in the Powered Vehicles Group. Fox Factory lowered its full-year fiscal 2026 outlook, now expecting net sales of $1.35 billion to $1.38 billion and adjusted EBITDA of $140 million to $150 million. The company designs, engineers, and manufactures premium suspension products for specialty sports and vehicles.