Latham Group, Inc. (Nasdaq: SWIM), the largest designer, manufacturer, and marketer of in-ground residential swimming pools in North America, Australia, and New Zealand, appoints Sean Gadd as the company’s new President and Chief Executive Officer as part of a CEO transition that will take effect on January 5, 2026. The appointment follows a comprehensive search as part of a succession planning process led by the Board and current CEO Scott Rajeski, who will be retiring from Latham and will serve as a special advisor to the company.

Sean Gadd comes to Latham following a 21-year career at James Hardie. He most recently served as President of North America since 2022, where he has had full P&L responsibility for James Hardie’s largest regional business. Prior to his role as President of North America, Sean served as Executive Vice President, North America, Commercial (2018-2022) and Executive Vice President, Markets and Segments, North America (2015-2018) at James Hardie, leading the front end of the business across product, marketing, and sales. Sean has been instrumental in spearheading James Hardie’s substantial organic net sales growth since 2022, driving material conversion and deeper market penetration through a refined go-to-market strategy targeting end-users via channel partners. Sean brings experience that is directly comparable to Latham’s material conversion and Sand State initiatives, and his demonstrated success in driving strategic growth will be invaluable for Latham and its shareholders.

James E. Cline, Chairman, commented, “Sean is known as a strong leader and brand-builder and has an impressive track record of driving growth at James Hardie. We are thrilled that he has accepted the CEO role at Latham, and the Board believes Sean will be able to leverage his robust commercial experience, sector knowledge, and branding expertise to accelerate our ability to continue to gain share and further the conversion to fiberglass from concrete pools.”

“I am pleased to be joining Latham and am looking forward to building on its achievements to date. This is an excellent opportunity for me to utilize my experience in the building products category to drive further market penetration and adoption of Latham’s top-quality products and greater recognition for its superior service standards,” Mr. Gadd commented.

Mr. Gadd will also become a member of Latham’s Board of Directors, replacing Mr. Rajeski, who is resigning from the Board concurrently with his retirement.

Mr. Cline commented, “On behalf of the Board of Directors, I want to express our deep appreciation for the contributions that Scott Rajeski has made to Latham during his long tenure at the company, first as Chief Financial Officer and, since 2017, as President and Chief Executive Officer. Under his leadership and that of his executive and operating teams, the company went public in April of 2021 and has experienced substantial growth, demonstrated resilience within a difficult industry environment, and built a strong financial position.”

Mr. Rajeski noted, “It has been a privilege to serve as the President & CEO of Latham alongside the talented executive and operating teams that we have at the company. Together, we have advanced the awareness and adoption of fiberglass pools and autocovers, while implementing production and related efficiencies that have streamlined our operations. I am proud to be retiring as CEO of Latham with the company in a strong financial position and in very capable hands. Throughout my conversations with Sean, I have been very impressed with his leadership capabilities and background, and I am confident that he will bring a unique skillset that will allow Latham to continue to outperform the industry, gain further traction in the important Sand States, and remain an acquirer of choice.”

About Latham Group, Inc.

Latham Group, Inc., headquartered in Latham, NY, is the largest designer, manufacturer, and marketer of in-ground residential swimming pools in North America, Australia, and New Zealand. Latham has a coast-to-coast operations platform consisting of approximately 1,850 employees across around 30 locations.

(Healdsburg, CA) – The Tile Heritage Foundation (THF) is beginning a critical new chapter in its mission to protect and preserve the history of the American tile industry. Karim Motawi joins THF founders Joe Taylor and Sheila Menzies as Executive Director of Development for the non-profit. Motawi brings to the organization his passion for ceramic tile and vast industry knowledge. He is tasked with increasing outreach and education, new program development, fundraising, and preservation initiatives.

Motawi is a 33-year tile industry veteran who has worked at making, designing, and selling tile for several art tile-focused companies, as well as serving on the board of directors and teaching tile making at the non-profit Ann Arbor Art Center. His enthusiasm, initiative, and knowledge have made him a valued partner with industry groups such as the Tile Council of North America, and he is a long-time volunteer and supporter of THF.

The tile industry is being asked to support further Tile Heritage initiatives that will be made possible through Motawi’s engagement, especially those that promote an appreciation of ceramic surfaces and the people and companies that make, sell, and install them.

Individual and industry support for THF has made possible 38 years of conservation and education! Join industry leaders by supporting the special funding campaign for the future of the Tile Heritage Foundation and propel THF to new opportunities to serve and promote the industry. With the backing of dedicated support, THF is poised for an active period of growth while maintaining its core mission of preserving and promoting the history of the American tile industry and important tile surfaces.

Contribute*HERE by December 31, 2025, to SUPPORT the present & future path of the Tile Heritage Foundation.

*Your contribution is tax deductible as allowed by law.

About the Tile Heritage Foundation
The Tile Heritage Foundation, founded in 1987 as a nonprofit charitable organization, is dedicated to promoting an awareness and appreciation of ceramic surfaces in the United States. The Foundation serves the need for a historical perspective regarding all ceramic surfacing materials, both past and present. In addition to aiding in the education of the public about the rich and varied history of tile, the organization is a major voice in the preservation of existing installations of rare and unusual ceramic surfaces while enhancing the visibility of contemporary tile work as well.

Results from the PHTA Q3 2025 Quarterly Pulse Survey

(Alexandria, VA) – The Pool & Hot Tub Alliance (PHTA), the trade association representing the swimming pool, hot tub, and spa industry, today released the results of its Q3 2025 Quarterly Pulse Survey, providing a strategic snapshot of the industry’s performance compared to the same period last year. The data confirms a resilient market, driven by stability in the service sector, but highlights ongoing challenges related to profitability and economic headwinds.

Key Performance Highlights (Q3 2025 vs. Q3 2024)

• Total Revenue Growth Maintained: The typical business across Building/Remodeling; Service, Maintenance, and Repair; and Retailers reported Total Revenue increased somewhat (+1% to +5%).
• Service Leads the Way: The service segment continues to be the primary engine of growth. 55% of companies reported an increase in the Volume of Service Calls, and the Service, Maintenance, and Repair segment was the only sector to report an increase in Bottom-Line Profits (+1% to +5%).
• New Construction Softens: Activity in new project installation remains mixed. 44% of companies reported an increase in Revenue from New Pools/Spas, but a significant 37% reported a decrease, signaling a clear cooling trend in new construction compared to the post-pandemic surge years.
• Remodel Work is Strong: 42% of companies reported an increase in Revenue from Remodel Jobs, with only 21% reporting a decrease, underscoring the shift in consumer spending toward improving existing assets and finding various sources of equity to tap into for that work.

Profitability and Outlook: The Cost Squeeze

Despite seeing revenue gains, the survey data reflects the financial reality of the current economic environment:

• Profit Margins Stagnate: Bottom-Line Profits for the Building/Remodeling and Retailer segments were Largely Unchanged (+1% to -1%), indicating that high material costs and inflation are absorbing revenue gains.
• Top Challenges: The industry’s primary concerns are firmly rooted in the economy: 70% cited Economic Factors (inflation, interest rates, consumer spending) as a top challenge, followed by Maintaining Profitability (62%) and the persistent issue of Recruiting and Retaining Skilled Employees (47%).

“The Q3 results clearly demonstrate the industry’s ability to pivot,” says Jeff Henriksen, PHTA Vice President of Industry Affairs & Research. “While interest rates and economic uncertainty continue to pressure new construction, our members are successfully leaning into the stability and higher margins of the service and remodel markets. The challenge now is to translate top-line revenue growth into bottom-line profit growth by managing persistent input costs.”

Future Outlook: Cautious Confidence

The industry remains confident in its future adaptability:

• Positive Future Outlook: 69% of companies anticipate revenue growth over the next 12 months (up from 68% last quarter).
• Adaptability: 77% of companies feel they are well positioned to adapt and thrive in the face of industry disruptions.

The PHTA Quarterly Pulse Survey tracks the pool and hot tub industry’s performance and outlook. Sponsored by PHTA and conducted by Industry Insights, the survey provides vital data to help businesses navigate industry trends.

For more information, please visit phta.org/research or contact Jeff Henriksen at [email protected] or 703-838-0083, ext. 148.

About the Pool & Hot Tub Alliance
The Pool & Hot Tub Alliance (PHTA), a non-profit organization with over 4,000 members from around the world, was established in 1956 to support, promote, and protect the common interests of the $62B pool, hot tub, and spa industry. PHTA provides education, advocacy, standards development, research, and market growth initiatives to increase our members’ professionalism, knowledge, and profitability. Additionally, PHTA promotes the use of pools by expanding swimming, water safety, and related research and outreach activities aimed at introducing more people to swimming, making swimming environments safer, and keeping pools open to serve communities. For more information, visit www.phta.org.