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Nautilus names 3rd chief financial officer in 3 years [The Oregonian, Portland, Ore. :: ](Oregonian (Portland, OR) Via Acquire Media NewsEdge) Feb. 21--Vancouver exercise equipment brand Nautilus, Inc., on Friday named Sidharth "Sid" Nayar its chief financial officer. Nayar, 53, joined the company Feb. 10 as senior vice president-finance. His appointment as chief financial officer becomes effective following the filing of the company's annual report for the year ended Dec. 31. Nayar will oversee financial, accounting and investor relations activities. He brings over 25 years of financial management experience to the position. Nayar joins Nautilus from Congoleum Corp., the flooring products company, where he most recently served as chief financial officer. He joined Congoleum in 1986. Nayar received an economics degree from the London School of Economics, and an MBA in finance from Rutgers University. Nayar's initial base annual salary is $260,000. He will be eligible for a bonus equal to 50 percent of his base salary earned in the applicable year based on achievement of corporate and individual performance goals, with potential for a bonus in excess of such target for superior performance plus stock incentives and a $90,000 signing bonus, according to a regulatory filing. "We are excited to have Sid join our management team," Nautilus chief executive Bruce Cazenave said in a news release, "and are confident that his strong financial background and depth of experience over his long tenure at Congoleum will provide significant contributions to our company as we continue to execute on our key strategic initiatives." Nayar said in the release: "Nautilus has a strong brand heritage, a commitment to product innovation, and recent execution against its strategic plan has created a strong foundation for continued profitable growth." Nayar replaces Linda Pearce, who resigned effective July 2, 2013, becoming chief financial officer for Tillamook County Creamery Association. Pearce, hired in August 2012, replaced Michael D. Mulholland, who resigned in January 2012 after being hired in May 2011. -- Allan Brettman ___ (c)2014 The Oregonian (Portland, Ore.) Visit The Oregonian (Portland, Ore.) at www.oregonian.com Distributed by MCT Information Services |