Ride CEO James Salter Steps Down

James Salter, Ride's Chief Executive Officer and co-founder, is stepping down as Chief Executive Officer and will assume the role of Vice Chairman of Ride's Board of Directors. Mr. Gerald B. Wasserman, the former President and Chief Executive Officer of Canstar Sports, Inc. and Weider Health and Fitness and a Ride director since March 1995, will serve as interim Chief Executive Officer while Ride's board considers candidates for the CEO post.

"Due to the rapid growth being generated by our Ride Snowboard subsidiary, both the board and I felt that the Company now needs a CEO located in Seattle," said James Salter. "As this is not compatible with my personal plans, we agreed that it was in everyone's best interests to make this change," he added.

"Since co-founding Ride with Tim Pogue and me in 1992, Jamie Salter has played a key role in leading this company as Chief Executive Officer. In that time, Ride has quickly become the number two snowboard company in the world, with 1995 revenues of $74.8 million and net income of nearly $6 million," said Roger Madison, Jr., Ride's Chairman. "I believe that these impressive results speak for themselves, and, on behalf of the board and Ride's shareholders, I would like to express our appreciation for his substantial contribution to the success of our company. We look forward to his continued involvement as a key member of the Board of Directors. We believe that the management transition we are putting into effect today will enable the Company to build on the success achieved under Jamie Salter's leadership and position the Company for continued growth and profitability."