AUSTIN TEXAS, February 14, 2017 – Magpul Industries Corp today announced the retirement of Magpul Founder and CEO Richard Fitzpatrick. Richard made the decision to retire in September 2016 with an effective date of March 2, 2017, his 50th birthday. While Richard will be retiring from day-to-day operations at the company, he will remain involved as a major shareholder and member of the Magpul Board of Directors.
Twenty-four years ago, as an enlisted Marine, Richard sketched the attached drawing for the “Quick Pull” for M16 rifle magazines. It was five years later when this idea was refined into the original “Magpul” and, in 1999, Richard started a company named after the original product. Working from his basement, Richard was its sole employee while working 3 jobs to provide startup capital for the endeavor. Today, Magpul stands as one of the largest producers of firearm magazines and accessories in the world, with over 200 products. While the company has grown, its core values continue to drive every aspect of the company.
Richard made the decision to retire in 2016 based on his belief that Magpul has a cultural foundation and a robust and talented team that can carry forward his vision for the company. In his communication to Magpul employees, Richard stated, “I want to thank everyone who has joined me in building something I could never have imagined 24 years ago when I made the first drawing of the original Magpul concept. Magpul has been the center of my life for so long, that I cannot clearly remember being without it, so this decision was extremely hard for me to make. As Magpul stays true to its published foundations, we will continue to attract talent, build great things and most importantly stay relevant to people’s lives.”
In preparation for Richard’s new role, Magpul has spent the past six months adjusting management functions for a seamless transition. Doug Smith will serve as President and COO and continue directing day-to-day operations and business functions, as he has since 2004. Duane Liptak, a former United States Marine Corps Officer with an Aviation and Marine Special Operations background, who joined Magpul in 2012, has been promoted to Executive Vice President and will assume further responsibility over Richard’s role in product vision and marketing. Mike Mayberry, who joined Magpul in 2004, will continue as Vice President of Product Development providing the same innovative design quality for function and aesthetics that Magpul has been known for. Brad Bennett, who joined Magpul in 2007, has been promoted to Vice President of Engineering and will continue to expand the Design and Engineering group, and Carey Ryerson, who joined Magpul in 2012, has been promoted to Vice President of Manufacturing Operations.
Magpul was established on Richard’s ingenuity and grew under Richard’s unyielding leadership and vision. Today the company is stronger than ever and will continue to grow and expand under the founding core values that drives every aspect of the company. Richard will continue to serve a critical role for Magpul, but today, we celebrate the dedication, hard work, and vision of our Founder as he enters a new phase of his professional life.
