MasterCraft Boat Holdings, Inc. Announces CFO Transition
MasterCraft Boat Holdings (NASDAQ: MCFT) announced a planned CFO transition, with Tim Oxley retiring effective December 31, 2025. Scott Kent, current Vice President of Finance, will succeed as CFO starting July 1, 2025. Oxley will serve as a special advisor until his retirement to ensure a smooth transition.
Kent brings 33 years of professional experience, including 28 years in the marine industry. He has led MasterCraft's finance function since 2018, overseeing accounting, FP&A, financial reporting, and treasury. His previous roles include CFO positions at Brunswick Boat Group and Recreational Boat Group.
During Oxley's 18+ year tenure, he helped navigate key moments including the company's public listing and the global pandemic, contributing to sales growth and balance sheet strength. Kent expressed optimism about driving value creation when the market rebounds.
MasterCraft Boat Holdings (NASDAQ: MCFT) ha annunciato una pianificazione del passaggio di ruolo del CFO, con Tim Oxley che andrà in pensione a partire dal 31 dicembre 2025. Scott Kent, attuale Vice Presidente della Finanza, assumerà il ruolo di CFO dal 1° luglio 2025. Oxley rimarrà come consulente speciale fino al suo pensionamento per garantire una transizione fluida.
Kent porta con sé 33 anni di esperienza professionale, di cui 28 nel settore marittimo. Ha guidato la funzione finanziaria di MasterCraft dal 2018, occupandosi di contabilità, FP&A, reporting finanziario e tesoreria. Le sue esperienze precedenti includono ruoli di CFO presso Brunswick Boat Group e Recreational Boat Group.
Durante i più di 18 anni di mandato di Oxley, ha contribuito a navigare momenti chiave, tra cui la quotazione pubblica dell'azienda e la pandemia globale, contribuendo alla crescita delle vendite e alla solidità del bilancio. Kent ha espresso ottimismo riguardo alla creazione di valore quando il mercato si riprenderà.
MasterCraft Boat Holdings (NASDAQ: MCFT) anunció una transición planificada de CFO, con Tim Oxley retirándose a partir del 31 de diciembre de 2025. Scott Kent, actual Vicepresidente de Finanzas, asumirá el cargo de CFO a partir del 1 de julio de 2025. Oxley servirá como asesor especial hasta su jubilación para asegurar una transición sin problemas.
Kent aporta 33 años de experiencia profesional, incluyendo 28 años en la industria marina. Ha liderado la función financiera de MasterCraft desde 2018, supervisando contabilidad, FP&A, informes financieros y tesorería. Sus roles anteriores incluyen posiciones de CFO en Brunswick Boat Group y Recreational Boat Group.
Durante los más de 18 años de mandato de Oxley, ayudó a navegar momentos clave, incluida la cotización pública de la empresa y la pandemia global, contribuyendo al crecimiento de las ventas y a la solidez del balance. Kent expresó optimismo sobre la creación de valor cuando el mercado se recupere.
MasterCraft Boat Holdings (NASDAQ: MCFT)는 CFO 전환 계획을 발표했으며, Tim Oxley가 2025년 12월 31일부로 은퇴합니다. Scott Kent, 현재 재무 부사장,는 2025년 7월 1일부터 CFO로 취임합니다. Oxley는 원활한 전환을 보장하기 위해 은퇴 전까지 특별 고문으로 활동합니다.
Kent는 33년의 전문 경력을 보유하고 있으며, 이 중 28년은 해양 산업에서 활동했습니다. 그는 2018년부터 MasterCraft의 재무 기능을 이끌어 왔으며, 회계, FP&A, 재무 보고 및 재무 관리를 감독했습니다. 이전에는 Brunswick Boat Group과 Recreational Boat Group에서 CFO로 재직한 경험이 있습니다.
Oxley가 18년 이상 재직하는 동안, 그는 회사의 상장 및 글로벌 팬데믹과 같은 주요 순간들을 잘 헤쳐 나가며 판매 성장과 재무 건전성에 기여했습니다. Kent는 시장이 회복될 때 가치 창출을 이끌 것이라는 낙관적인 입장을 표명했습니다.
MasterCraft Boat Holdings (NASDAQ: MCFT) a annoncé une transition planifiée du CFO, avec Tim Oxley prenant sa retraite à compter du 31 décembre 2025. Scott Kent, actuel vice-président des finances, succédera au poste de CFO à partir du 1er juillet 2025. Oxley agira en tant que conseiller spécial jusqu'à sa retraite pour garantir une transition en douceur.
Kent apporte 33 ans d'expérience professionnelle, dont 28 ans dans l'industrie maritime. Il dirige la fonction financière de MasterCraft depuis 2018, supervisant la comptabilité, la FP&A, les rapports financiers et la trésorerie. Ses précédents postes incluent des fonctions de CFO chez Brunswick Boat Group et Recreational Boat Group.
Au cours des plus de 18 années de mandat d'Oxley, il a aidé à naviguer à travers des moments clés, y compris l'introduction en bourse de l'entreprise et la pandémie mondiale, contribuant à la croissance des ventes et à la solidité du bilan. Kent a exprimé son optimisme quant à la création de valeur lorsque le marché se redressera.
MasterCraft Boat Holdings (NASDAQ: MCFT) hat einen geplanten Wechsel des CFO bekannt gegeben, wobei Tim Oxley zum 31. Dezember 2025 in den Ruhestand geht. Scott Kent, derzeitiger Vizepräsident für Finanzen, wird ab dem 1. Juli 2025 als CFO nachfolgen. Oxley wird bis zu seinem Ruhestand als Sonderberater tätig sein, um einen reibungslosen Übergang zu gewährleisten.
Kent bringt 33 Jahre Berufserfahrung mit, darunter 28 Jahre in der Marinebranche. Er leitet seit 2018 die Finanzabteilung von MasterCraft und überwacht Buchhaltung, FP&A, Finanzberichterstattung und Treasury. Zu seinen früheren Positionen gehören CFO-Positionen bei Brunswick Boat Group und Recreational Boat Group.
Während Oxleys über 18-jähriger Amtszeit half er, entscheidende Momente wie den Börsengang des Unternehmens und die globale Pandemie zu navigieren und trug zum Umsatzwachstum und zur Stabilität der Bilanz bei. Kent äußerte Optimismus hinsichtlich der Wertschöpfung, wenn sich der Markt erholt.
- Planned and organized leadership transition with 6-month advisory period ensures continuity
- New CFO brings 28 years of marine industry experience and internal knowledge of company operations
- Strong succession planning demonstrated through internal promotion
- Loss of long-term CFO with 18+ years of company experience
- Leadership change comes during period awaiting market rebound
VONORE, Tenn., April 07, 2025 (GLOBE NEWSWIRE) -- MasterCraft Boat Holdings, Inc. (NASDAQ: MCFT) (the “Company”), today announced that Tim Oxley, Chief Financial Officer, has decided to retire from the Company, effective December 31, 2025. Scott Kent, Vice President of Finance, will succeed Mr. Oxley as Chief Financial Officer, effective July 1, 2025. Mr. Oxley will transition to serve as a special advisor to the executive team/Board from July 1, 2025 until December 31, 2025, to ensure a smooth transition of responsibilities.
Mr. Kent has 33 years of professional experience, including 28 years of direct marine industry experience and is the ideal successor for the CFO role. He has served as Vice President of Finance for MasterCraft since 2018, leading the finance function, including accounting, FP&A, financial reporting, and treasury. Throughout his tenure, he has also helped lead operational and strategic advancements across the business. Prior to joining MasterCraft, Mr. Kent served as Chief Financial Officer at Brunswick Boat Group and Recreational Boat Group, as well as various positions of increasing responsibility at Brunswick, Sea Ray Boats, and Price Waterhouse. Mr. Kent has a bachelor’s of science in Accounting from the Milligan College and has held license as a CPA.
“On behalf of our Board, leadership team and everyone at MasterCraft, I would like to thank Tim for his hard work and selfless service during his 18+ years career with the Company,” said Brad M. Nelson, Chief Executive Officer at MasterCraft Boat Holdings, Inc. “During his tenure, Tim helped MasterCraft successfully navigate some of the most pivotal moments in the Company’s history, including our public listing and the global pandemic, and played a critical role in developing our brands and implementing strategies that have helped drive sales, earnings growth and a strong balance sheet. Tim served with high integrity and has made a significant impact on the Company. We wish him and his family all the best as he transitions into retirement.”
“It has been a privilege to work alongside so many highly dedicated and talented people, and I am proud of what we have achieved over the past 18 years,” said Oxley. “With the Company’s strong financial foundation and outstanding team, I have decided that now is the right time to retire to spend more time with my family. I look forward to working together over the coming months with Brad, Scott, and the entire MasterCraft organization to achieve a seamless transition.”
“We are pleased to announce Scott Kent as our next Chief Financial Officer,” Nelson continued. “His appointment reflects our thorough succession planning process and strong, talented leadership across our Company. Scott is a proven and trusted leader, with excellent business and financial acumen who has made significant contributions to the strength and vitality of MasterCraft. The Board and I are confident that Scott is the right addition to our leadership team as we execute our strategy to deliver sustainable growth and value creation for shareholders.”
“I am honored to be stepping into the role of Chief Financial Officer as MasterCraft is poised to take full advantage when the market rebounds,” said Kent. “I believe deeply in our purpose, strategy and team and am energized to drive value creation moving forward.”
About MasterCraft Boat Holdings, Inc.:
Headquartered in Vonore, TN, MasterCraft Boat Holdings, Inc. (NASDAQ: MCFT) is a leading innovator, designer, manufacturer and marketer of premium recreational powerboats through its three wholly-owned brands, MasterCraft, Crest and Balise. Through these three brands, MasterCraft Boat Holdings has leading market share positions in two of the fastest-growing segments of the powerboat industry – performance sport boats and pontoon boats. For more information about MasterCraft Boat Holdings, please visit Investors.MasterCraft.com, www.MasterCraft.com, www.CrestPontoonBoats.com, and www.BalisePontoonBoats.com
Forward-Looking Statements
This press release includes forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Forward-looking statements can often be identified by such words and phrases as “believes,” “anticipates,” “expects,” “intends,” “estimates,” “may,” “will,” “should,” “continue” and similar expressions, comparable terminology or the negative thereof, and include statements in this press release concerning the resilience of our business model, our intention to drive value and accelerate growth, and our financial outlook.
Forward-looking statements are subject to risks, uncertainties and other important factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, including, but not limited to: changes in interest rates, general economic conditions, changes in trade priorities, policies and regulations (particularly as a result of the 2024 U.S. election), including the potential for increases or changes in duties, current and potentially new tariffs and quotas, demand for our products, persistent inflationary pressures, changes in consumer preferences, competition within our industry, our ability to maintain a reliable network of dealers, our ability to cooperate with our strategic partners, elevated inventories resulting in increased costs for dealers, our ability to manage our manufacturing levels and our fixed cost base, the successful introduction of our new products, the success of our strategic divestments, geopolitical conflicts, and financial institution disruptions. These and other important factors discussed under the caption “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended June 30, 2024, filed with the Securities and Exchange Commission (the “SEC”) on August 30, 2024, could cause actual results to differ materially from those indicated by the forward-looking statements. The discussion of these risks is specifically incorporated by reference into this press release.
Any such forward-looking statements represent management's estimates as of the date of this press release. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release. We undertake no obligation (and we expressly disclaim any obligation) to update or supplement any forward-looking statements that may become untrue or cause our views to change, whether because of new information, future events, changes in assumptions or otherwise. Comparison of results for current and prior periods are not intended to express any future trends or indications of future performance, unless expressed as such, and should only be viewed as historical data.
Investor Contact:
MasterCraft Boat Holdings, Inc.
John Zelenak
Manager of Treasury & Investor Relations
Email: investorrelations@mastercraft.com
FAQ
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