Leslie's Inc. Welcomes Steven L. Ortega Back as CEO Following Bankruptcy Relief

Leslie's Inc., the foremost direct-to-consumer brand within the U.S. pool and spa industry, is set to welcome back Steven L. Ortega as Chief Executive Officer after emerging from Chapter 11 proceedings. The announcement comes from the Ad Hoc Group of Term Lenders, representing a coalition of financial stakeholders focused on ensuring Leslie's has the necessary financial agility and strength to thrive in its market.

Ortega, who previously spent nearly twenty years contributing to Leslie's growth, held multiple senior leadership roles, including Chief Financial Officer and Chief Operating Officer, before serving as President and CEO. His deep familiarity with the company's operations and customer base positions him favorably for leading Leslie's into its next chapter.

In his new role, Ortega will be instrumental in a transformation committee designed to provide strategic oversight during the ongoing restructuring phase. According to a spokesperson for the Ad Hoc Group, this restructuring is not merely about financial recuperation; it also presents an opportunity for Leslie's to enhance its operational capabilities, invest in its personnel, and improve the overall customer experience.

“Steve’s extensive experience and insight into Leslie's core customers, along with his knowledge of vendor relationships, make him an ideal candidate,” the spokesperson added. “We are committed to supporting our team and Steve as we work toward building a more robust Leslie’s for the long-term future.”

Upon his appointment, Ortega expressed enthusiasm about his return, acknowledging the brand’s heritage and the trust it has built with pool and spa owners across the country. He remarked, “Leslie's is a company I know well and care deeply about. I’m excited about this opportunity to lead our talented team and strengthen our ties with customers and vendors.” He emphasized the importance of customer relations, noting that delivering expert advice and the right products is vital to Leslie’s mission.

Ortega highlighted that Leslie's not only possesses a strong brand identity but also boasts a talented workforce dedicated to enhancing the company’s offerings and securing its place as a leader in the pool and spa sector. His vision includes a strong commitment to sustainable and profitable growth, ensuring that Leslie's can adapt and thrive in a competitive marketplace.

The Ad Hoc Group, comprising firms such as Grey Helm Capital LLC and Cerberus Capital Management, will play an ongoing role in guiding Leslie's during this critical period. Their investment reflects a strong belief in Ortega's leadership and the potential of Leslie's to reinvent itself for future success.

Leslie's aims to emerge from this restructuring more robust, with a focus on strengthening its operational framework and enhancing customer satisfaction as core priorities. The transition period under Ortega's advisement is expected to lay a solid foundation for upcoming initiatives that promote growth and profitability.

In conclusion, Ortega's return symbolizes a renewed hope for Leslie's as it navigates through its restructuring phase. The combined efforts of experienced leadership and supportive lenders aim to reaffirm Leslie's reputation and market position while building a deeper connection with customers, setting the stage for a redefined future in the pool and spa industry.