BREAKING NEWS: Reggie Fountain resigns

[LuckyLady]

Posted on December 10, 2010

Reggie Fountain, who founded Fountain Powerboats more than 30 years ago, today announced his resignation from the company.
"There are key differences in opinion and philosophy between the current owners and myself on how to run the company," Fountain said in a statement.
"I've always been one that plotted his own course and feel the best ways to utilize my talents is in new-product development, racing and working directly with my customers," he added. "The performance-boat business is changing fast, and there are certain basic elements that must be in place to succeed."
Fountain filed for Chapter 11 bankruptcy protection in August 2009.
After the company was sold to Liberty Associates, Fountain told Soundings Trade Only that he was happy with how things had worked out.
Liberty Associates also is the majority shareholder of Donzi Marine and Pro-Line Boats. It was recently announced that production of both of those lines will be moved to Fountain's Washington, N.C., facility. Liberty also recently announced plans to relaunch Baja as a standalone line.
It also was recently announced that Fountain Powerboats was discontinuing its factory-direct Fountain Factory Superstore, citing new sales strategies.
John Walker, chief operating officer of Fountain, could not be reached for immediate comment this afternoon.
Fountain's statement did not seem to rule out his return to the boating industry.
"Although I'm not able to announce any firm plans moving forward, boatbuilding has always been my passion, and the future looks both exciting and challenging," he said.

[marc2061]

by monday he'll be building boats under another name,maybe Reggie fountaine.....

[hotshot1]

Just call it a Reggie. I think his name has enough to stand alone. In the Corp world his Brand will stand alone.

[Curmudgeon]

In the Corp world his Brand will stand alone.

Didn't do too well in the real world, though. I'll bet he did have differences with the new owner - they wanted to change the way Fountain did business, Reggie wanted to do the same things that put the company in Chapter 11. Wonder if he'll have to start selling off chains ...

[WAHOONBOX]

WILL THE NEW CEO STILL WEAR THE BLACK LEOTARDS WITH WHITE BOBBY SOCKS AND THE MR. TEE STARTER KIT?