With new president named, Hagale stays on as Bass Pro’s acting CFO

Jim Hagale, Bass Pro Shops’ longtime president, will stay on as acting chief financial officer with the appointment of his successor.

The company late last week announced the hiring of Michael McDermott, a former executive at Lowe’s Cos. Inc. (NYSE: LOW) and General Electric Co. (NYSE: GE), to the position of president of omni-channel retail, succeeding Hagale.

“Jim is going to step back from his responsibilities as president but remain engaged as a senior adviser and acting CFO,” Bass Pro spokesman Jack Wlezien said via email.

In a news release announcing the selection of McDermott, Bass Pro founder and CEO Johnny Morris said, “Jim steadfastly served our company, our people and our customers for almost 17 years and made an immeasurable positive impact.”

“We will continue to rely on his counsel and wish him all the best as he transitions to a new life where he has more time to spend with his family, especially his 13 grandchildren,” Morris added.

Hagale is credited with working with the city of Memphis to transform the Pyramid into a Bass Pro store and hotel and serving as chief integration officer for Bass Pro’s 2017 purchase of Cabela’s Inc. for $5 billion.

His successor, McDermott, worked through November 2018 at Lowe’s, most recently as chief customer officer. He previously served 20 years at GE as sales leader and in other high-level roles, according to his LinkedIn profile.

According to the release, McDermott’s work as chief customer officer had him supporting a multibillion-dollar investment strategy and marketing budget for Lowe’s. He also led a $10 billion credit card portfolio.

“The success of Bass Pro Shops and Cabela’s is based on exceptional customer service, great products and highly creative marketing. That’s Mike’s wheelhouse,” Morris said in the release.