Fox Factory announces strategic board refresh after talks with Engine Capital

Fox Factory (FOXF) Holding Corp. announced that following constructive discussions with Engine Capital regarding opportunities to enhance operational performance and profitability, the company will be undertaking a strategic board refresh and entered into a cooperation agreement with Engine Capital. The company’s board will appoint two new independent directors, including Alan Bazaar, and form a Board-level Transformation Committee to drive operational excellence and improve profitability. Bazaar is currently CEO and co-chief investment officer of Hollow Brook Wealth Management. The second independent director, who will be identified by Engine Capital and approved by the board, is expected to have operational expertise in manufacturing excellence and margin improvement initiatives.