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Lazydays Holdings, Inc. (NASDAQ:LAZY), currently trading at $0.22 per share after experiencing a 96% decline over the past year, announced the appointment of Kyle Richter as Chief Administrative Officer effective May 14, 2025. Richter brings over two decades of experience in financial and operational consulting to the role. Provided by Berkeley Research Group, LLC, his expertise spans various industries, and he previously held positions at Deloitte & Touche LLP and CRG Partners.
The company also disclosed the resignations of Jordan Gnat and Suzanne Tager from the Board of Directors, effective May 14, 2025. Their departures were not due to disagreements with the company’s operations, policies, or practices. The Board has expressed gratitude for their service and does not plan to fill the vacancies immediately, aligning with efforts to enhance financial performance.
These executive changes were reported in a recent SEC filing by Lazydays, a retail-auto dealership and service company headquartered in Tampa, Florida. The information is based on a press release statement.
In other recent news, Lazydays Holdings, Inc. reported a narrower first-quarter loss, with revenue surpassing analyst expectations. The company posted a net loss of $9.5 million, or $0.09 per share, a significant improvement from the $22.0 million, or $1.67 per share, loss recorded in the same period last year. Revenue for the quarter was $165.8 million, which, although lower than the previous year’s $270.1 million, exceeded analyst projections. Lazydays noted progress on its turnaround plan, highlighting improved gross profit and margins across all product lines. The company also completed the sale of five dealership locations, which helped reduce its debt by approximately $145 million. Despite a decline in total retail units sold to 2,148 from 3,521, the gross profit margin improved to 26.4% from 14.0% the previous year. Interim CEO Ron Fleming emphasized the company’s commitment to executing its turnaround strategy. These developments are part of Lazydays’ ongoing efforts to enhance shareholder value.
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