Nautilus Inc. has named as its new CEO a man it hails as a proven digital innovator, the Vancouver-based exercise machine company announced this week.
The company’s board of directors selected James “Jim” Barr IV to assume day-to-day leadership of the company beginning July 29. He will also serve on the board.
“Barr is a C-level leader with multiple successes transforming and growing large-scale digital and multichannel businesses in diverse industries,” the announcement said.
Barr most recently was group president at Ritchie Bros., a used industrial equipment auction company, where he led a digital transformation that expanded the 60-year-old company’s offerings from its core onsite auctions to an array of onsite and online formats, the announcement said.
He previously was executive vice president and chief digital officer of OfficeMax, the global retailer/wholesaler of office equipment, where he was credited with turning around its online business from declining revenue to double-digit growth every quarter before the company merged with Office Depot, the announcement said.
Barr’s initial experience in digital operations included 12 years as an executive at Microsoft, first with the MSN network before heading the company’s B2C online businesses, which developed and ran online shopping, classified advertising and auction businesses, as well as platforms and technologies, that ultimately powered the ecommerce experience in the Bing search engine.
“As Nautilus Inc. continues to transform its business leveraging technology to provide our customers a personalized fitness experience, we are excited to have Jim Barr, with his extensive technology and digital expertise, to drive Nautilus into its next era,” board chairman and interim CEO M. Carl Johnson III said in the announcement.
“Jim’s proven capabilities of driving growth through people leadership, consumer-driven marketing, innovation and technology, and digital prowess will greatly enhance Nautilus’ plans to extend its global fitness position,” Johnson said.
Nautilus Inc., which trades on the New York Stock Exchange with the NLS ticker symbol, is a global fitness solutions company with a brand portfolio that includes Bowflex, Modern Movement, Nautilus, Octane Fitness, Schwinn and Universal products. The company sells its products through direct and retail channels, as well as in commercial channels.
In May, Nautilus reported a preliminary $10.2 million operating loss in its first quarter due to a 26.5 percent decrease in net sales compared with the first quarter of 2018. Its stock was unchanged in trading Wednesday at $1.88 a share.