Fox Factory names board member Douglas Grimm as interim CEO after Michael Dennison departs
Fox Factory Holding Corp. said Douglas J. Grimm, a director since March 2026 and a Lucid Motors board member, will act as interim chief executive beginning 16 Oct 2026. The move follows Michael C. Dennison’s exit from the CEO position and the board effective 15 Oct 2026. Grimm will stay on Fox’s board but will leave the audit committee while a permanent CEO is sought.
Why it matters
The leadership change and a reduction of the fiscal‑2026 sales outlook to $1.35‑$1.38 billion contributed to a 13.3% drop in Fox’s share price, pressuring investors. The interim CEO contract adds $1.065 million in salary and stock awards, affecting the company’s cost base.
Key facts
- 1Michael C. Dennison left the CEO role and the board, effective 15 Oct 2026. tradingview.com
- 2Douglas J. Grimm was appointed interim CEO effective 16 Oct 2026. tradingview.com
- 3Grimm has served as a Fox director since March 2026. tradingview.com
- 4Board size was reduced from seven members to six after Dennison’s departure. tradingview.com
- 5Fox cut its fiscal‑2026 sales guidance to $1.35 billion‑$1.38 billion from $1.42 billion‑$1.47 billion. eletric-vehicles.com
- 6Fox shares fell 13.3% to $16.04 after the announcement. eletric-vehicles.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.