Marine Products Corporation Board of Directors Appoints New Director Susan Bell

Rhea-AI Summary

Marine Products Corporation (NYSE: MPX) announced the appointment of Susan Bell to its Board of Directors, effective January 1, 2021. Bell brings over 36 years of public accounting experience from Ernst and Young, where she held leadership positions and advised on various financial matters. She fills a vacancy left by Bill Dismuke, who served on the board since 2005. The company continues to focus on product innovation and market growth, leveraging its premium brands and strong dealer network to boost long-term shareholder value.

Positive

• Appointment of Susan Bell enhances board expertise in finance and governance.
• Continued focus on product innovation and diversification to increase market share.

Negative

• Potential concerns over board continuity following the retirement of long-serving member Bill Dismuke.

ATLANTA, Dec. 15, 2020 /PRNewswire/ -- Marine Products Corporation (NYSE: MPX) today announced the appointment of Susan Bell to the Board of Directors of the Company effective January 1, 2021. 

Bell recently retired from Ernst and Young LLP (EY) after a 36-year career in public accounting, serving in key leadership roles. She served clients as an audit and advisory partner, led the EY Southeast Risk Advisory practice, served as the Atlanta Office Managing Partner and led EY's Power & Utilities sector focus in the Global Financial Accounting Advisory Services (FAAS) practice. Bell led and advised client service teams supporting implementation of new accounting standards, internal controls implementation and testing, internal audit and enterprise risk management programs and initiatives, securities offerings, merger and acquisition transactions, and implementing enterprise transformational initiatives such as process automation and advanced analytics.

Richard A. Hubbell, President and Chief Executive Officer, stated "We are very pleased to welcome Susan to our Board. Her financial expertise and governance experience will be valuable to Marine Products Corporation."

Ms. Bell fills a board vacancy arising from the recent retirement of Bill J. Dismuke.  Mr. Dismuke joined the Board of Directors in 2005 and served with distinction on the Board and several committees, including the Audit Committee.  Mr. Hubbell also expressed the Company's appreciation for Mr. Dismuke's service and gratitude for his contributions over the past 15 years. 

Marine Products Corporation (NYSE: MPX) is a leading manufacturer of fiberglass boats under three brand names: Chaparral, Robalo and Vortex. Chaparral's sterndrive models include SSi and SSX, along with the Chaparral Surf Series.  Chaparral's outboard offerings include various models, such as OSX Luxury Sportboats, the 257 SSX, and SunCoast Sportdecks. Robalo builds an array of outboard sport fishing boats, which include center consoles, dual consoles and Cayman Bay Boat models. Chaparral also offers jet powered boats under the Vortex brand name.  The Company continues to diversify its product lines through product innovation.  With premium brands, a solid capital structure, and a strong independent dealer network, Marine Products Corporation is prepared to capitalize on opportunities to increase its market share and to generate superior financial performance to build long-term shareholder value.  For more information on Marine Products Corporation visit our website at MarineProductsCorp.com.

For information contact:

BEN M. PALMER
Chief Financial Officer
(404) 321-7910
irdept@marineproductscorp.com 

JIM LANDERS
Vice President Corporate Services
(404) 321-2162
jlanders@marineproductscorp.com

 

View original content:http://www.prnewswire.com/news-releases/marine-products-corporation-board-of-directors-appoints-new-director-susan-bell-301193527.html

SOURCE Marine Products Corporation

FAQ

Who is the new director appointed to Marine Products Corporation's Board?

Susan Bell has been appointed to the Board of Directors effective January 1, 2021.

What is Susan Bell's background in public accounting?

Susan Bell retired after a 36-year career at Ernst and Young, serving in key leadership roles including audit and advisory partner.

Why did Marine Products Corporation appoint a new director?

Susan Bell fills a vacancy left by the retirement of Bill Dismuke, who served on the Board since 2005.

What is the expected impact of Susan Bell's appointment on Marine Products Corporation?

Her financial expertise and governance experience are expected to enhance the company's strategic direction.