Compass Diversified Announces Appointment of Joshua Gaynor as President of Lugano Diamonds

WESTPORT, Conn., March 05, 2024 (GLOBE NEWSWIRE) -- Compass Diversified (NYSE:CODI), an owner of leading middle market businesses, proudly announces the appointment of Joshua Gaynor as the President of its subsidiary, Lugano Diamonds & Jewelry Inc., effective March 4th, 2024. As President, Mr. Gaynor will work closely with Lugano Diamonds' CEO and Co-Founder, Moti Ferder, and the executive team, helping to lead the day-to-day business operations and growth strategies with a particular focus on sales, marketing, and client experience. Mr. Gaynor will also oversee Lugano's private member club, Lugano Privé.

Gaynor brings nearly two decades of experience working at luxury brands, most recently with BVLGARI serving as Managing Director of High Jewelry North America, and was responsible for the successful expansion of the high jewelry category across the United States and Canada. His prior roles as both Vice President of Marketing and Communications for Fendi and as Director of Marketing and Communications at Bottega Veneta also showcase his expertise in leveraging partnerships to grow the brands' presence and sales significantly.

Established in 2004 by Moti and Idit Ferder, Lugano Diamonds is a distinguished diamond and jewelry company known for crafting unique, wearable masterpieces. With salons in Newport Beach, Aspen, Palm Beach, Ocala, Houston, Washington, D.C., Greenwich, and a London salon expected to open in April 2024, Lugano Diamonds also demonstrates its commitment to being a responsible steward by actively supporting philanthropic initiatives and giving back to communities.

"We are thrilled to announce Josh's appointment to the newly created role of President at Lugano Diamonds," said Moti Ferder, CEO and Co-Founder of Lugano Diamonds. "Josh brings a wealth of cross-functional leadership expertise to our esteemed team. His genuine dedication to cultivating strong and meaningful client relationships aligns seamlessly with Lugano's core mission, making him a valuable addition to our company."

Patrick Maciariello, Chair of Lugano's Board of Directors, commented: "Josh has an impressive record of developing and executing growth strategies at iconic consumer brands. We believe he is the ideal choice to help continue to build on Lugano's already impressive growth, working with Moti and the rest of the executive team to expand the organization globally while also maintaining the high-touch client experience Lugano is known for."

"I am very excited to be joining Lugano," said Joshua Gaynor, President of Lugano Diamonds. "Lugano has created a unique business model and built a superbly talented team that has positioned the company as a market leader in the High Jewelry segment. I look forward to collaborating with the team to continue accelerating growth while always keeping our clients at the center of everything we do."

About Lugano Diamonds

Founded by Moti and Idit Ferder in 2004, Lugano Diamonds & Jewelry Inc. is a diamond and jewelry company that creates exquisite, one-of-a-kind wearable works of art. Drawing initial inspiration from the gem rather than design, Lugano's expert artisans craft each piece of jewelry with meticulous attention to detail and to the highest standards. With a passion for building relationships, community, and philanthropy, Lugano Diamonds believes in being good stewards for both its clients and its communities, a vision realized by supporting various philanthropic efforts, giving back, and making a strong social impact. For more information, please visit luganodiamonds.com.

About Compass Diversified

Since its founding in 1998 and IPO in 2006, CODI has consistently executed on its strategy of owning and managing a diverse set of highly defensible, middle-market businesses across the industrial, branded consumer, and healthcare sectors. The Company leverages its permanent capital base, long-term disciplined approach, and actionable expertise to maintain controlling ownership interests in each of its subsidiaries, maximizing its ability to impact long-term cash flow generation and value creation. The Company provides both debt and equity capital for its subsidiaries, contributing to their financial and operating flexibility. CODI utilizes the cash flows generated by its subsidiaries to invest in the long-term growth of the Company and has consistently generated strong returns through its culture of transparency, alignment, and accountability. For more information, please visit compassdiversified.com.

Forward Looking Statements

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements with regard to the expectations related to the future performance of Lugano and CODI. Words such as "believes," "expects," "will," "anticipates," "intends," "continue," "projects," "potential," "assuming," and "future" or similar expressions, are intended to identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions, some of which are not currently known to CODI. In addition to factors previously disclosed in CODI's reports filed with the SEC, the following factors, among others, could cause actual results to differ materially from forward-looking statements: changes in the economy, financial markets and political environment; risks associated with possible disruption in CODI's operations or the economy generally due to terrorism, natural disasters, social, civil and political unrest or the COVID-19 pandemic; future changes in laws or regulations (including the interpretation of these laws and regulations by regulatory authorities); and other considerations that may be disclosed from time to time in CODI's publicly disseminated documents and filings. Further information regarding CODI and its subsidiaries and factors which could affect the forward-looking statements contained herein can be found in CODI's annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. Forward-looking statements speak only as of the date they are made. Except as required by law, CODI undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Investor Relations:

irinquiry@compassdiversified.com

Gateway Group

Cody Slach

949.574.3860

CODI@gateway-grp.com

Compass Diversified Media Relations:

Mediainquiry@compassdiversified.com

The IGB Group

Leon Berman

212.477.8438

Lugano Diamonds Media Relations:

Sarah Gargano

305.484.6643

sarah@sarahgargano.com