Malibu Boats, Inc. Announces Leadership Changes
Malibu Boats, Inc. (Nasdaq: MBUU) has appointed David Black as the new Interim Chief Financial Officer, effective April 19, 2023, following the resignation of Wayne Wilson. Wilson will assist in the transition until May 12, 2023, before moving to a similar role at a private equity-backed firm. David Black, who has been with Malibu since 2020 as Corporate Controller, has significant experience in finance and internal audit, positioning him well for this role. The Board is actively searching for a permanent successor. CEO Jack Springer and Chairman Michael K. Hooks expressed gratitude for Wilson's contributions and confidence in Black's capabilities to maintain operational continuity during this transition.
- David Black's extensive experience in accounting and finance may ensure a smooth transition and continued strategic execution.
- Wayne Wilson's departure is framed positively, highlighting the opportunity for professional growth.
- Leadership transition may introduce temporary uncertainties within the finance department.
- Potential experience gap in the interim period could impact financial strategies.
David Black appointed Interim Chief Financial Officer, following the resignation of Wayne Wilson, the Company’s current Chief Financial Officer
LOUDON, Tenn., April 20, 2023 (GLOBE NEWSWIRE) -- Malibu Boats, Inc. (Nasdaq: MBUU) announced today the appointment of David Black as Interim Chief Financial Officer, effective April 19, 2023. Malibu’s current Chief Financial Officer, Wayne Wilson has notified the Company of his resignation to pursue a similar role at a private equity-backed private company in Knoxville, Tennessee. Mr. Wilson will actively serve in an advisory role and assist with the transition through May 12, 2023. The Board of Directors has initiated a search for Mr. Wilson’s successor.
“For almost fourteen years, Wayne has been a critical partner in creating and implementing the Company’s strategic vision and positioning Malibu Boats for future success. His intelligence and understanding of the business are extraordinary, and while he will be missed, we know this is an opportunity for him to expand professionally,” commented Jack Springer, Chief Executive Officer and Director of Malibu Boats Inc. “Wayne leaves behind a strong finance organization that supports over 3,000 team members committed to our next generation of growth. On behalf of everyone at Malibu, I would like to deeply thank Wayne for his leadership, dedication, and many contributions to the Company.”
Mr. Black has served as Malibu’s Corporate Controller since November 2020, having previously served as the Company’s Director of Internal Audit since 2017. He has also played an active role in the due diligence and integration activities related to Malibu’s acquisitions since 2017. He has over sixteen years of experience in accounting and finance, working for both public and private companies. Mr. Black received a B.A. in Finance from Fairmont State University, and is a Certified Public Accountant (CPA) and Certified Internal Auditor (CIA).
“On behalf of the Board of Directors, we want to thank Wayne for his commitment to Malibu and wish him all the best in his next chapter,” commented Michael K. Hooks, Chairman of Malibu Boat’s Board of Directors. “David brings a wealth of industry knowledge and financial expertise, along with a demonstrated track record of supporting the execution of our strategic initiatives. We have the utmost confidence that this will be a smooth transition as we commence the search for our next CFO of Malibu Boats.”
“It has been an honor for me to work with such a talented team and be part of the incredible transformation and growth at Malibu Boats. I leave knowing that Malibu remains incredibly well-positioned – competitively, operationally and financially – to expand its leadership as the premier recreational boats manufacturer. I appreciate the opportunity provided to me by the Board and Jack and look forward to watching the continued success of Malibu Boats,” noted Wayne Wilson, Chief Financial Officer of Malibu Boats Inc.
About Malibu Boats, Inc.
Based in Loudon, Tennessee, Malibu Boats, Inc. (MBUU) is a leading designer, manufacturer and marketer of a diverse range of recreational powerboats, including performance sport, sterndrive and outboard boats. Malibu Boats, Inc. is the market leader in the performance sport boat category through its Malibu and Axis boat brands, the leader in the 20’ - 40’ segment of the sterndrive boat category through its Cobalt brand, and in a leading position in the saltwater fishing boat market with its Pursuit and Cobia offshore boats and Pathfinder, Maverick, and Hewes flats and bay boat brands. A pre-eminent innovator in the powerboat industry, Malibu Boats, Inc. designs products that appeal to an expanding range of recreational boaters, fisherman and water sports enthusiasts whose passion for boating is a key component of their active lifestyles. For more information, visit www.malibuboats.com, www.axiswake.com, www.cobaltboats.com, www.pursuitboats.com, or www.maverickboatgroup.com.
Contacts
Malibu Boats, Inc.
InvestorRelations@MalibuBoats.com
FAQ
What led to Wayne Wilson's resignation from Malibu Boats?
Who is the new Interim Chief Financial Officer of Malibu Boats?
When did David Black start his role as Interim CFO?
Will Wayne Wilson assist during the transition period?
What is Malibu Boats' stock symbol?
