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Nautilus names chairman as CEO
07:50 AM PDT on Thursday, March 27, 2008
VANCOUVER, Wash. -- Fitness-equipment maker Nautilus on Wednesday named Chairman Edward Bramson as chief executive.
He replaces President Robert Falcone, named interim chief executive in August 2007 after Gregg Hammann left.
The financially troubled company plans to release the results of a review of strategic alternatives after the end of the second quarter.
In February, Nautilus said it swung to a fourth-quarter loss of $47.7 million, or $1.51 per share, versus a profit of $12.9 million, or 41 cents per share, amid weak demand for home exercise gym equipment and a weak economic environment.
Nautilus shares rose 3 cents to $3.53 on Wednesday.
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