BDE founder to retire after weak quarter

After more than a quarter of a century at the top of Black Diamond, its founder, Peter Metcalf, will step down at the end of this year. Mark Ritchie, chief operating officer, will take over as president of the climbing and snow sports equipment manufacturer.

In the third quarter ended Sept. 30, turnover dropped by 11 percent in U.S. dollars and 5 percent in local currencies compared with last year’s period to $39.3 million. This excludes halted operations including POC, the Swedish brand of helmets and safety equipment, which was sold to Investcorp a few weeks ago.

The decline derived partly from currency issues and lower demand in Japan and Europe, whereas sales in North America were up by 12 percent. The loss from continued businesses soared to $49.2 million up from $1.2 million last year.

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