Daily News

View All News

Barrett appoints Columbia Sportswear CFO to board

October 13, 2016

Barrett Business Services Inc. (NASD: BBSI) appointed Tom Cusick, CFO of outdoor apparel firm Columbia Sportswear Co., to its board of directors, effective Oct. 11. Cusick will serve as a member of the audit and compliance committee at the Vancouver, Wash.-based supplier of staffing and professional employer organization services.

“Tom is a highly seasoned executive who brings a wealth of financial and accounting expertise to our board,” Barrett chairman Anthony Meeker. “His valuable skill set complements our commitment to ensure that the proper oversight and controls are in place throughout the organization.”

Barrett underwent a restatement of earnings following the termination of its CFO in March of this year, after the executive told the company’s audit committee that unsupported journal entries were made in 2013. The company regained compliance with Nasdaq listing standards in July and appointed Gary Kramer as its new CFO, effective in August.

Barrett’s board will have seven members with the appointment of Cuscik, five of whom qualify as independent.

Cusick has held several senior leadership positions throughout his 14 years with Columbia Sportswear, which has $2.4 billion in annual sales, and currently serves as executive VP and CFO. Prior to joining Columbia, Cusick spent seven years with Cadence Design Systems and its subsidiaries, Tality Corp. and OrCAD Inc. He began his career as an accountant with KPMG.

“We focus tremendous energy on developing the organization for future growth,” said Michael Elich, president and CEO of Barrett. “As we do, we view the expansion of the board as an essential component of that development. Throughout Tom's career, and most recently in his role leading the finance organization at Columbia Sportswear, he has proven his leadership qualities and expertise in finance and accounting, which we believe will substantially contribute to our board and the future of BBSI.”