June 14 (Reuters) - U.S. firearms maker Remington Arms Company LLC has hired former outdoor sporting goods executive Ken D’Arcy as its new chief executive, roughly a year after emerging from bankruptcy amid faltering gun sales, D’Arcy told Reuters on Friday.
President Donald Trump’s election in 2016 eased fears over increased regulation on firearms, creating the “Trump slump” for the firearms industry that has added pressure on sales, a challenge D’Arcy will face as CEO of Remington.
United Sporting Cos, another large firearm distributor whose roots date back to the Great Depression, filed for bankruptcy this week, also hurt by declining sales.
Remington is the maker of the AR-15 Bushmaster rifle, which was used by a 20-year-old gunman to kill 20 schoolchildren, aged 6 and 7, and six adult staff in the Sandy Hook Elementary School shooting in 2012.
One of the main tasks for D’Arcy, previously a Remington board member, will be dealing with the fallout. A Connecticut court ruled earlier this year that parents of the deceased children can sue Remington, a setback for gunmakers that had been shielded from liability in mass shootings.
“It’s an iconic brand, and I’m really excited to be the CEO,” said D’Arcy, who begins as CEO on Monday. “I have worked with them in one form or another since 2002, and I’m excited to be a part of the team.”
Remington did not immediately respond to a request for comment.
D’Arcy previously worked as the chief executive of GI Sportz, a manufacturer of paintballs and equipment related to the game, and TrackingPoint Inc, a rifle optics company, according to his LinkedIn profile.
Remington filed for bankruptcy last year with a plan to slash its nearly $1 billion debt load, weeks after a fatal shooting at a high school in Parkland, Florida, and anti-gun rallies. It had been owned by private equity firm Cerberus Capital Management LP before the bankruptcy.
Anthony Acitelli, a former executive with gunmaker Colt Defense, departed as Remington’s chief executive in November, according to his LinkedIn profile. (Reporting by Jessica DiNapoli and Harry Brumpton in New York Editing by Bernadette Baum and Tom Brown)