AMMO, Inc., the owner of GunBroker.com, the largest online marketplace serving the firearms and shooting sports industries, and a leading vertically integrated producer of high-performance ammunition and components, announced Wednesday (July 26) that Jared Smith will serve as the company’s new Chief Executive Officer.
“Today I, along with the board of directors, am pleased to announce that industry veteran Jared Smith has been named Chief Executive Officer and will become a director of AMMO and GunBroker.com,” said Fred Wagenhals, AMMO’s current CEO and Chairman. “I will remain Executive Chairman of AMMO and GunBroker.com and will be a strategic advisor to the company and Jared to assist in the transition. Jared has been AMMO’s President and Chief Operating Officer since January 2023.”
Smith has spent 17 years working in the firearms and ammunition sector, where he most recently spent more than five years as the general manager with Fiocchi of America, a global manufacturer of premium ammunition that has operations in Arkansas.
During his tenure at Fiocchi, he held multiple positions, including Director of Procurement and Supply Chain, and subsequently, Vice President of International Strategy and Development. As Fiocchi’s GM, Smith managed separate manufacturing operations, while overseeing three acquisitions and led Fiocchi’s revenue growth in three short years from $95 million to more than $200 million.
“It was always my intent to engage a permanent successor when I founded AMMO in 2016 and took the reigns as CEO,” Wagenhals said. “Once I spent time with Jared, it became clear to me he could take our company to the next level and beyond, and I am pleased the CEO Succession Committee came to the same conclusion. Jared has impressive leadership skills and knowledge of our company’s targeted marketplace, and he is singularly focused and committed to deliver on the strategic imperative of further strengthening and growing AMMO and GunBroker.com, leveraging our amazing employees and technological market differentiators.”
Smith is a native of Arkansas having attended Bryant High School and received his bachelors and masters degrees in business from the University of Arkansas.
“I am honored to be appointed CEO and look forward to leading this company, our executive leadership team, and our board toward the continued transformation of our industry,” said Smith. “I have spent almost two decades in the firearm and ammunition sector and have always recognized AMMO and GunBroker.com as best in class for their space and potential. I joined this team because of the raw potential of the operations team, multiple opportunities to innovate, bring transformative change, and continue the growth trajectory of this company.”
With its corporate offices headquartered in Scottsdale, Arizona, AMMO designs and manufactures products for a variety of aptitudes, including law enforcement, military, sport shooting and self-defense. GunBroker.com is the largest online marketplace dedicated to firearms, hunting, shooting and related products.
AMMO, Inc. was founded in 2016 and trades publicly on the NASDAQ stock exchange under the symbol “POWW.”