Winter Harbor is a restructuring and turnaround firm that has been working to strengthen SUMR Brands, the parent company of Summer Infant, Born Free, and Swaddle Me.
“As Interim CEO, Stuart demonstrated the ability to act with a keen sense of urgency to implement swift change and transformation,” says Robin Marino, chairwoman, SUMR Brands board of directors. “He is a decisive leader who has reshaped our culture and mobilized our team to strive for operational excellence. We look forward to seeing him continue to drive value for all of our stakeholders.”
SUMR formally announced its restructuring back in February as it addressed numerous operational challenges and came off of a year in which it was impacted by tariffs during the 2018-19 trade war between the U.S. and China.
“Over the past year, our ability to reposition the business for success, while navigating an unprecedented global environment, is a testament to the tremendous work and dedication of all SUMR’s employees,” says Noyes. “I am proud of the team’s achievements and grateful to the board for its support and engagement. We will continue to work with passion and focus to enhance SUMR’s financial and operational performance.”
The company refinanced its debut and entered into a new credit facility agreement with Bank of America in October.