Waddoups joined Liberty in 2003 as Chief Financial Officer (CFO) and was promoted in 2012 to president.
"We are proud to promote Kim as our new CEO," said Alan Offenberg, CEO of Compass Diversified Holdings and Chairman of Liberty. "Since joining our Company approximately 10 years ago, Kim has played a key role increasing sales and profitability while strengthening Liberty's brand recognition. His deep knowledge of our Company and successful track record provide an ideal fit and will help to ensure a seamless transition. We are confident Kim's extensive experience and proven dedication, combined with his strategic vision, will lead Liberty to continued success."
"I am excited to assume the leadership role at Liberty," said Waddoups. "The company has built a premier reputation for providing customers with high-quality safes that are manufactured in the U.S. and is well positioned for further growth. With the investments we have made in strengthening our operational platform and expanding our product offerings, we expect to maintain Liberty's positive momentum in the market. I look forward to working closely with our talented staff and driving future performance."
In addition to his new responsibilities as CEO, Waddoups will join the company's Board of Directors along with Steve Allred, Senior Vice President and Chief Operations Officer at Liberty.
The company also announced it has promoted Greg Clements to CFO. Clements joined Liberty in 2001 and previously served as the Company's Controller. In his new capacity, he will be responsible for managing Liberty's operational and financial reporting initiatives, developing and maintaining budgets, and more. He will report to Waddoups.
"Greg's appointment to CFO is well deserved based on his numerous accomplishments in the past 12 years and demonstrates our ongoing commitment to promote internally," said Offenberg. "Our dedicated and experienced team of professionals serves as a core differentiator and we look forward to benefitting from Greg's expanded focus over the long term."