In a previously announced transition, Deana L. McPherson has been named Executive Vice President, Chief Financial Officer, Treasurer, and Assistant Secretary of Smith & Wesson Brands, which follows the retirement of Jeffrey D. Buchanan and the completion of the spin-off of the company’s outdoor products and accessories business. The spin-off distribution was completed at 12:01 a.m. Eastern Time on August 24, 2020 to stockholders of record of SWBI as of the close of business on the record date of August 10, 2020.
“Since joining Smith & Wesson in 2007, Deana has made significant contributions to our company, first in her role as Corporate Controller, and later in key leadership roles that expanded the scope and complexity of her responsibilities,” said President and CEO Mark Smith. “Her experience, strong leadership skills, and extensive knowledge of Smith & Wesson’s financial operations, make her a tremendous fit for the role of Chief Financial Officer, and her long history with our company will provide a seamless transition. The Board of Directors and I are proud to name Deana as our new CFO.”
McPherson joined Smith & Wesson in June 2007 as Corporate Controller, was later promoted to Vice President of Finance and Corporate Controller, and became Chief Accounting Officer in 2017. Her extensive finance and treasury experience with the company includes responsibility for financial reporting and oversight of the company’s audit, tax, and banking matters. McPherson has played a key role in Smith & Wesson’s longstanding relationship with its lenders, and her work has been instrumental in managing the company’s syndicated bank credit facility.
McPherson is a Certified Public Accountant, a Chartered Global Management Accountant, and is a member of the American Institute of Certified Public Accountants and the Massachusetts Institute of Public Accountants. She earned her BBA in Accounting at the University of Massachusetts, Amherst. With more than 25 years as a financial professional, she began her career as a Senior Auditor with Deloitte & Touche LLP.
With the completion of the spin-off of Smith & Wesson’s outdoor products and accessories business, Jeffrey D. Buchanan retires after 15 years of service to the company, including six years as a member of the Board of Directors prior to becoming CFO. “I want to thank Jeff for his many contributions over the course of his career at Smith & Wesson," said Smith. "Jeff’s leadership has long helped guide and shape our organization, and we especially thank him for his ongoing leadership throughout the recent spin-off process, which has been instrumental in placing each company in a position to unlock greater stockholder value. All of us at Smith & Wesson wish Jeff the very best in his well-deserved retirement.”
Smith & Wesson Brands, Inc. (NASDAQ Global Select: SWBI) is a U.S.-based leader in firearm manufacturing and design, whose broad portfolio of quality handgun, long gun, and suppressor products to the global consumer and professional markets under the iconic Smith & Wesson, M&P, Thompson/Center Arms, and Gemtech brands. The company also provides manufacturing services including forging, machining, and precision plastic injection molding services. For more information visit smith-wesson.com.