Remington CFO, board member resigns from company

A pack of Remington-brand .338 Lapua Magnum rifle rounds. A fine 250-grains of bullet. (Photo: Daniel Terrill/

Thursday marks the last day for Remington Outdoor Company’s chief financial officer, Steve Jackson, who resigned shortly after the gun maker petitioned a bankruptcy court for Chapter 11 protections.

In Jackson’s 10 years with the gun maker, he saw Remington grow into a massive conglomerate comprised of more than a dozen brands and then descend into bankruptcy as the firearm giant struggle alongside demand.

In Remington’s statement released earlier this month, the company said Jackson was “critical” in developing its restructuring plan. “We believe sets Remington on the path to a brighter tomorrow,” said Anthony Acitelli, Remington’s chief executive.

Using a pre-packaged restructuring plan, Remington aims to unload $620 million of its nearly $1 billion debt load in 45 days. Once the company emerges from bankruptcy proceedings, a “reorganized” Remington will be valued between $470 million to $615 million.

The plan also offered financial projections out to 2022. This year, the company projects some $395.9 million in sales and to double that figure by 2020.

In 2016, the last full year annual revenue was reported, Remington generated $865.1 million in sales and $21.6 million in profit. Three quarters into 2017, the company reported a $60.5 million loss on $466.7 million in sales.

Jackson, who also resigned from his role as board member, said he was excited about the company’s future outlook, but “as Remington embraced a new beginning I too am moving onto a new opportunity.” He explained he has taken a similar role with another company.

Until a new CFO is appointed, Remington will use its existing team to fulfill the role’s obligations.

Latest Reviews

  • Tuck & Carry: CCW in a Skirt

    Aimed at those who want the comfort and convenience of a skirt but with the protection of a holstered gun, the Tuck & Carry occupies what I term apparel holsters -- that is clothing/holster duos.

    Read More
  • The Marlin Dark in .45-70 is Stealthy and Modern

    Flash forward the lever gun of Western lore to the 2020s, where Marlin has taken that classic design and given it a modern upgrade. Meet the Marlin Dark.

    Read More
  • Gear Review: Sig Sauer Tango 6T 1-6

    Sig Sauer has long been a big name in the firearms industry, so it came as no surprise several years ago when Sig filled out its repertoire with its own optics line. Today, we’re looking at the Tango 6T, a 1-6 low power variable optic.

    Read More
  • First Look: Hornady 6mm ARC

    Hornady brought another impressive project to the shooting public in 2020 with the introduction of the 6mm Advanced Rifle Cartridge.

    Read More