Nautilus reorganizes
Fitness product company Nautilus Inc. on Thursday announced a plan to reorganize into three stand-alone business units, according to a fitness industry news Web site.
Fitnessbusinesspro.com reported that the Vancouver, Wash.-based Nautilus (NYSE: NLS) will now have three separate units: direct, commercial and retail. All three units, as well as Nautilus International, will report to Tim Joyce, senior vice president and general manager of Nautilus, the Web site reported.
Bill McMahon will serve as vice president and general manager of the direct business unit cash advance loan fast cash now. Jon Levin will hold the same title with the retail business unit, while Ken Fish will hold the title for the commercial business unit.
Nautilus earlier this week announced that the sale of its Pearl iZumi apparel and footwear segment to Shimano American Corp. had closed.
Irvine, Calif.-based Shimano will pay $65.3 million in cash and assume $4.1 million in long-term debt.