Sturm, Ruger & Company, Inc. (NYSE: RGR) announces the retirement of Chairman of the Board and Chief Executive Officer William B. Ruger, Jr., effective February 28, 2006. He has also resigned as Chairman of the Board and Board Member of the Sturm, Ruger Board of Directors, effective February 13, 2006. It is anticipated that his successor will be elected and named by the Board of Directors within the next few months. Vice Chairman of the Board, President, and Chief Operating Officer Stephen L. Sanetti will assume Mr. Ruger's duties on an interim basis.
"Bill Ruger Jr. has been a key member of management since he joined the Company 42 years ago," said Sturm, Ruger President Stephen L. Sanetti. "He has been Director of Manufacturing Operations of our Southport, CT facility, a Vice President of the Company, and has served with distinction as the Company's President for many years. He has occupied his current position since the retirement of the Company's co-founder William B. Ruger, Sr. on October 24, 2000. He is a brilliant and sagacious individual whose singular presence we will miss, and we sincerely wish him a well-earned and personally satisfying retirement," Sanetti concluded.
Sturm, Ruger & Co., Inc. is one of the nation's leading manufacturers of rugged, reliable firearms for the commercial sporting market. As a full-line manufacturer of American-made firearms, Ruger offers consumers over 400 variations of more than 30 product lines, from the ubiquitous 10/22® and Mini-14®, to the new and exciting LCP® II, Mark IV™, Ruger American Pistol®, Ruger Precision Rifle®, SR-556 Takedown®, AR-556® and Ruger American Rifle®. Our awarding-winning products (the Gunsite Scout Rifle, SR9c®, LCR® and LCP®) all prove that Ruger has a rugged, reliable firearm to meet every shooter's needs. For more than 60 years, Ruger has been a model of corporate and community responsibility. Our motto, "Arms Makers for Responsible Citizens®," echoes our commitment to these principles as we work hard to deliver quality and innovative firearms.
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