Balancing Act
The ability to multi-task is a key attribute for a successful company executive. Just ask Mark Smith, CEO of Smith & Wesson
By Slaton L. White
Life at the top isn’t easy. Company CEOs need a skill set that includes the ability to keep a lot of balls in the air at the same time. And, if the company is publicly owned, as is the case with Smith & Wesson, those balls include investors, the SEC and other government regulators, along with of course, shareholders, Wall Street analysts, dealers, and customers.
Mark Smith, president of CEO of Smith & Wesson, knows this well. A busy man, he is currently overseeing the company’s move to Tennessee as well as the rollout of the new products that are so vital to the company’s ongoing financial health.
The Move
Smith & Wesson has a long history with Springfield, Massachusetts, and it’s been a mainstay of the region’s economy since 1852. But last year, S&W announced it was leaving Springfield for Maryville, Tennessee. It’s part of an ongoing exodus by firearm manufacturers away from states with anti-gun legislatures or business environments that inhibit growth.
When the company announced the move in late 2021, it said it intended to move its headquarters and significant elements of its operations to Maryville, just south of Knoxville. At the time Smith said, “This has been an extremely difficult and emotional decision for us, but after an exhaustive and thorough analysis, for the continued health and strength of our iconic company, we feel that we have been left with no other alternative.”
He specifically cited proposed legislation in Massachusetts that, if enacted, would prohibit the company from manufacturing certain firearms in the state. “These bills would prevent Smith & Wesson from manufacturing firearms that are legal in almost every state in America and that are safely used by tens of millions of law-abiding citizens every day exercising their Constitutional Second Amendment rights, protecting themselves and their families, and enjoying the shooting sports.”
Because the products in question make up more than half of Smith & Wesson’s profits, the company felt it had no alternative but to relocate to a more firearm-friendly state. Smith indicated that the company vetted a number of locations, and then made the decision to relocate 750 jobs and its headquarters to Maryville. Key factors in the decision included support for the Second Amendment, a business-friendly environment, quality of life for S&W employees, cost of living and affordability, access to higher-education institutions, availability of qualified labor for its operations and headquarter functions, and favorable location for efficiency of distribution.
As part of this strategic move, the facility in Springfield will be reconfigured, but will remain operational. Forging, machining, metal finishing, and assembly of revolvers will be done there. The new facility that is being built in Maryville will contain the company’s headquarters, plastic-injection molding, pistol and long-gun assembly, and distribution.
Ground broke last year, and Smith recently told SHOT Daily, “The move to Tennessee is in full swing. We’re working tirelessly to ensure that we continue to service our customers as we prepare to move to Maryville. Construction of the building is progressing well. At this point, we have walls raised around the plant, and structural steel for the office space is now going up. Parallel to construction, we’ve started a remote office in downtown Maryville that houses over 60 employees.”
The Equalizer
It’s no secret that new products are the lifeblood of the industry, and Smith is pleased with the recent launch of the Equalizer, a new micro-compact 9mm.
“We’re excited about the introduction of the Smith & Wesson Equalizer. We saw the traction around our Shield EZ product and heard the consumers asking for certain features that weren’t available in the original version. We took the opportunity to listen to our consumers and came up with a more broad-based option that fits nicely between the Shield Plus and Shield EZ offerings we already had in the market.”
Smith believes consumers will eagerly embrace this new arrival. “The Smith & Wesson Equalizer is truly an all-purpose pistol,” he says. “We’ve included features like an optic-ready slide, under-mounted rail, and a 15-round magazine to accommodate those who would use it for home defense. You can also size down the entire gun and run it with a 10-round flush-fit magazine for an ideal concealed carry footprint. Compatibility with Shield Plus magazines and using the same holsters that were available for the 9mm Shield EZ ensured that there was an abundance of aftermarket support already available for consumers looking to buy right away at launch. For those who needed the easier-racking slide, we’ve introduced our next-gen EZ technology to the Equalizer, resulting in a much-easier racking slide. And for those who have issues loading the magazine, we’ve included a Maglula loader to overcome that hurdle.”
Defending the Second Amendment
If all this isn’t enough on his plate, last summer Smith had to deal with the U.S. Congress, specifically a hearing by the U.S. House of Representatives Oversight and Reform Committee, the sole purpose of which was to vilify the industry. He was unable to attend in person due to a scheduling conflict, but he delivered a robust defense of the industry in a forceful statement that was posted on the company’s Twitter account: “Some have had the audacity to suggest that after they have vilified, undermined and defunded law enforcement for years, supported prosecutors who refuse to hold criminals accountable for their actions, overseen the decay of our country’s mental health infrastructure, and generally promoted a culture of lawlessness, Smith & Wesson and other firearm manufacturers are somehow responsible for the crime wave that has predictably resulted from these destructive policies. But they are the ones to blame for the surge in violence and lawlessness, and they seek to avoid any responsibility for the crisis of violence they have created by attempting to shift the blame to Smith & Wesson, other firearm manufacturers and law-abiding gun owners.
“We will continue to work alongside law enforcement, community leaders and lawmakers who are genuinely interested in creating safe neighborhoods. We will engage those who genuinely seek productive discussions, not a means of scoring political points. We will continue informing law-abiding citizens that they have a Constitutionally-protected right to defend themselves and their families. We will never back down in our defense of the Second Amendment.”
The statement eloquently sums up another vital quality required by an effective CEO: leadership. (smith-wesson.com)
We will continue informing law-abiding citizens that they have a Constitutionally-protected right to defend themselves and their families. We will never back down in our defense of the Second Amendment.