5.11 Tactical, headquartered in Costa Mesa, today announced that Co-founder and Chief Executive Francisco J. Morales will be promoted to executive chair of the board and Troy R. Brown will become the new CEO, effective Jan. 1.
Morales held the top role for the last five years helping the tactical apparel firm grow to $500 million in 12-month sales and open 124 retail stores in the U.S.
His successor is a current board member who first joined in 2019. Brown sports a 30-year career in the apparel industry and is currently the president of the North American division of Zumiez, a Washington-based retailer he was worked for the last 15 years.
Morales said that Brown’s “strong direct-to-consumer track record” with previous brands will help “accelerate 5.11’s transformation” in a statement. The founding executive will remain a significant shareholder in the company, according to officials.
5.11 was acquired by Compass Diversified (NYSE: CODI) for $401 million in 2017 with only three stores open and is now the largest of seven subsidiaries under the parent company.
