Fox Factory CEO Out; Interim CEO Named as FY26 Guidance Cut on Weak Q3
FOXF sits 23% above its 52-week low of $13.08 on elevated volume (4.6× avg).
Summary
Fox Factory ousted CEO Mike Dennison and named director Doug Grimm as interim CEO, while cutting full-year guidance on a broad Q3 miss across all segments.
Key Events · Executive and Board Changes · FOXF
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CEO Departs, Interim CEO Appointed
Mike Dennison stepped down as CEO and resigned from the board effective October 15, 2026; independent director Doug Grimm became Interim CEO on October 16. Heidrick & Struggles will lead the permanent CEO search.
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FY26 Guidance Cut Sharply
Full-year net sales guidance lowered to $1.35B-$1.38B from $1.42B-$1.47B, and adjusted EBITDA to $140M-$150M from $176M-$196M, excluding roughly $14M of IEEPA tariff refunds.
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Q3 Preliminary Results Miss
Q3 net sales of $336M-$340M came in below the $355M-$380M guidance range, with adjusted EBITDA of $38M-$42M versus $46M-$54M guided. Weakness spanned Marucci, Powered Vehicles, Aftermarket upfit, and bike sales.
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Interim CEO Compensation Package
Grimm receives a $1,065,000 annual salary, a $600,000 completion bonus, a $2M initial RSU award, up to $1.6M in additional RSUs, a $15,000 monthly housing allowance, and up to $35,000 in legal fee reimbursement.
Analysis · FOXF · Manufacturing
CEO Mike Dennison stepped down immediately and left the board, with independent director Doug Grimm taking over as Interim CEO while Heidrick & Struggles searches for a permanent replacement. The same filing slashes full-year guidance: net sales to $1.35B-$1.38B from $1.42B-$1.47B and adjusted EBITDA to $140M-$150M from $176M-$196M, after preliminary Q3 sales of $336M-$340M badly missed the $355M-$380M guide. The miss spans every segment — Marucci underperformance before its sale, a supply disruption in Powered Vehicles, upfit problems in Aftermarket Applications, and soft bike demand. Grimm's package is rich for an interim role: $1.065M salary, a $600K completion bonus, and $2M in RSUs vesting in a year, plus up to $1.6M more if he stays past six months. The board shrank from seven to six seats, and Dennison remains employed while transition terms are negotiated — no definitive agreement yet. This is a leadership and credibility reset at a company already digesting the Marucci divestiture and tariff-driven cost inflation.
How filings like this one have moved
In the 30 days to Oct 16, 2026, 36.9% of the 961 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.57%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, FOXF was trading at $16.10 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $674.2M. The 52-week trading range was $13.08 to $25.43. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.