Successor to be named within next few months
SOUTHPORT, CT -- February 14, 2006 -- 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 is the nation's leading manufacturer of high-quality firearms for recreation and law enforcement, and a major producer of precision steel and titanium investment castings. Sturm, Ruger is headquartered in Southport, CT, with plants and foundries located in Newport, NH and Prescott, AZ.