Business
MasterCraft Boat Holdings, Inc. Initiates Leadership Succession Plan
Brad Nelson Appointed CEO of MasterCraft, Effective March 18, 2024 Fred Brightbill to Retire as CEO, Effective March 18, 2024, and as Chairman of the
About this update from Mastercraft Boat Holdings, Inc.
[{"type":"text","content":"Brad Nelson Appointed CEO of MasterCraft, Effective March 18, 2024 Fred Brightbill to Retire as CEO, Effective March 18, 2024, and as Chairman of the MasterCraft Board of Directors, Effective June 30, 2024 Lead Independent Director Roch Lambert to be Appointed Chairman of the Board, Effective July 1, 2024 Reiterates Fiscal Third Quarter and Full Year 2024 Guidance VONORE, Tenn., March 04, 2024 (GLOBE NEWSWIRE) -- MasterCraft Boat Holdings, Inc. (NASDAQ: MCFT) today announced that Brad Nelson (54), will become the Company’s new Chief Executive Officer and will be appointed to the Board of Directors, effective March 18, 2024. Mr. Nelson succeeds Fred Brightbill (71), who intends to retire as Chief Executive Officer on March 18, 2024, and as Chairman and a member of the MasterCraft Board of Directors, effective June 30, 2024. Mr. Brightbill joined the MasterCraft Board in 2009 and was appointed Chairman in 2015, adding the role of CEO in 2019. Following his retirement from the Board, Mr. Brightbill will serve as a consultant to the Company for a one-year period. Roch Lambert, currently Lead Independent Director of the Board, will be appointed Chairman, effective July 1, 2024. Mr. Lambert joined the Company’s Board in 2016, becoming Lead Independent Director in 2019. Mr. Nelson is a proven executive with more than 30 years of operating and manufacturing experience. Most recently, he served as Executive Vice President and President, Commercial Segment of Oshkosh Corporation, a reporting segment that generated $1.1 billion in annual revenue. In this role, Mr. Nelson led the strategic transformation of the segment, achieving historical highs in revenue, profitability, and backlog. Under Mr. Nelson’s leadership, the Commercial Segment achieved and maintained number one market positions in key product categories in North America, built market leading eCommerce and Aftermarket businesses, with 18 service and sales centers, and underwent a major simplification effort and implementation of a meaningful “people first” culture change. Mr. Lambert said, “On behalf of the Board, I’d like to thank Fred for his outstanding service as CEO of MasterCraft. Over his tenure as CEO, Fred has been instrumental in crafting a new strategy for the Company focused on customer centricity and quality, streamlining our operations and successfully navigating th...