Board Chair Frederick Brightbill Appointed Interim Chief Executive Officer
Terry McNew Steps Down as President and Chief Executive Officer
“On behalf of the Board and the entire organization, I would like to thank Terry for his leadership, steadfast dedication and service to MasterCraft over the past seven years,” said Brightbill. “I am excited to take on the role of Interim CEO and work alongside MasterCraft’s long-tenured, industry-veteran leadership team and seasoned and dedicated employees responsible for driving the Company’s culture of innovation, operational excellence and continuous improvement.”
Brightbill, a boating industry veteran, is a Principal of
While Brightbill assumes the role of Interim CEO effective immediately, McNew will remain with the Company through
Concluded Brightbill, “As a Board, we’re confident in the Company’s ability to continue to perform through this transition and we remain bullish on the long-term prospects of both the markets we serve and the brands we own. We look forward to updating you on our progress during our fiscal 2020 first-quarter earnings call on
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 our executive transition and [our fiscal 2020 outlook] and long-term prospects.
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 general economic conditions, demand for our products, changes in consumer preferences, competition within our industry, our reliance on our network of independent dealers, our ability to manage our manufacturing levels and our large fixed cost base, the successful integration of
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.
Vice President, Business Development
Source: MasterCraft Boat Holdings, Inc.