Fitness solutions provider Nautilus, Inc. yesterday announced its appointment of Aina Konold as chief financial officer, effective immediately.
Konold joins Vancouver, Washington-based Nautilus, a worldwide marketer, developer, and manufacturer of fitness equipment brands, after a rocky year for the company. Former CEO Bruce Cazenave resigned in March, and Sid Nayar, CFO since 2014, resigned in July.
Konold, who brings 25 years of financial management experience to the position, says she "[seeks] to return the company to a profitable growth trajectory."
Nautilus’ stock has struggled in consecutive quarters, which the company blames in part on the poor rollout of a digital exercise program that, for a fee, pairs with Nautilus products, Vancouver newspaper The Columbian reported.
The company reported an operating loss of $10.2 million in the first quarter of the year, while it was led by chairman M. Carl Johnson III as interim CEO, and has yet to right itself, making 2019 the worst-performing year since 2011, The Columbian said,
The company is relying on Konold to help with a rebound. In its announcement, the company praised her "extensive global market acumen," particularly on growth and "brand revitalization initiatives."
Prior to Nautilus, Konold held several executive-level finance positions over nearly 20 years at Gap, Inc. She served as director of financial planning and analysis, head of real estate strategy, and director of investor relations. In 2011, she stepped in as founding CFO for Gap Inc. in China, where she grew store count from four to more than 175 stores.
Nautilus, Inc. CEO Jim Barr said that Konold’s "data-driven insights, knowledge of omnichannel business models, and cost-effective growth approach" will be critical to the company’s path forward.
Representatives of Nautilus and Konold did not respond to requests for comment.