David Klatt, a member of Counselor’s Power 50 list of the promotional products industry’s most influential people, has moved on from his former position as chief executive officer at Koozie Group (asi/40480) and is now serving as an adviser to the Top 40 supplier’s board of directors, ASI Media can confirm.

David Klatt, Koozie Group

Koozie Group told ASI Media that Klatt’s move was planned – a transition set to occur following five years as CEO and a board member at Koozie Group under the controlling ownership of H.I.G. Capital, a private equity firm. H.I.G. acquired Koozie Group, then known as BIC Graphic North America, in 2017.

A new CEO has not been named. Koozie Group said that the company’s executive team, which includes Power 50 member and Chief Revenue Officer Melissa Ralston, is working directly with the board to lead the company. Spokespersons for Koozie Group told ASI Media that more information, including word on any potential new CEO or possible CEO search, was not available at this time.

Klatt joined Koozie Group in 2018. Under his leadership, the firm rebranded from BIC Graphic to Koozie Group in 2020 following what he and Ralston described as a large-scale effort that included internal surveys, focus groups, collaboration with outside agencies, and whittling down a list of more than 800 possible names.

Especially notable, Koozie Group acquired IMAGEN Brands (asi/93990) – then a Top 40 supplier – in a 2020 deal that occurred while Klatt was at the helm. The company also acquired supplier HotLine Products in 2021.

Koozie Group experienced a modest bump in revenue growth under Klatt in 2018 but annual sales declined in 2019 and 2020 – the latter year’s business obviously affected by the COVID-19 pandemic. Growth returned in 2021 and 2022.

Koozie Group also made strides on sustainability while Klatt was CEO, with initiatives like its ‘Keep It. Give it.’ program and pledging to be carbon neutral by the end of 2024. The eco efforts came as Koozie Group forged strategic partnerships with brands like Dri Mark, GCI Outdoor, Tervis, and SCX Design.

Before joining Koozie Group, Klatt was CEO of Clearwater, FL-based AAMP Global and president of the writing segment and specialty business segment at Newell Brands. He has also held leadership roles at Black & Decker and DeWalt. He formally transitioned out of the Koozie Group CEO position in March 2023, the company told ASI Media.