Marcus Lemonis, chairman and CEO of Camping World Holdings and star of CNBC show “The Profit,” is stepping up to assist employees experiencing financial and personal difficulties due to the COVID-19 crisis.
Camping World announced that Lemonis intends to sell up to 500,000 shares of Class A common stock that he beneficially owns at a future date in accordance with applicable securities laws and contribute the proceeds to fund specific employee relief. The fund is in addition to the assistance the company is providing.
In a statement, Lemonis, who does not take any form of compensation in his role as chairman and CEO of Camping World, said that Camping World is the most important part of my life and the Camping World team, many of which have been with the company for years, are the reason why.”
“The associates are what make this company what it is and while they are not asking for a handout, I will do everything I can to protect their personal and financial well-being,” Lemonis stated. “They have always taken care of the customer, taken care of each other and taken care of me. We are in unprecedented times and we are all making sacrifices, but it is important for us all to do more and I’m reaching into my pocket to protect the team.”
Camping World Holdings, based in Lincolnshire, Ill., is a leading outdoor and camping retailer, offering an extensive assortment of recreational vehicles for sale, RV and camping gear, RV maintenance and repair and outdoor and active sports products, with locations in 36 states. It also offers a broad range of services and protection plans.