Business
Vision Marine Technologies Inc. Announces CEO Contract Renewal
MONTREAL, QC / ACCESS Newswire / September 26, 2025 / Vision Marine Technologies Inc. ("Vision Marine" or the "Company") (NASDAQ:VMAR) a company specializing
About this update from Vision Marine Technologies Inc.
[{"type":"text","content":"MONTREAL, QC / ACCESS Newswire / September 26, 2025 / Vision Marine Technologies Inc. (\"Vision Marine\" or the \"Company\") (NASDAQ:VMAR) a company specializing in premium marine experiences and innovative propulsion solutions, today announced the renewal of the Executive Employment Agreement with Alexandre Mongeon as Chief Executive Officer of the Company, effective immediately.Mr. Mongeon co-founded Vision Marine Technologies and has been the driving force behind its evolution into North America's first vertically integrated electric propulsion and multi-brand retail marine platform. Under his leadership, Vision Marine:Transitioned from boutique electric boat production to industrialized, high-voltage propulsion systems.Set the world electric boat speed record at 116 mph.Listed on Nasdaq under ticker VMAR.Expanded operations through durable electric rental businesses and strategically aligned government partnerships.· Completed the acquisition of Nautical Ventures, awarded #1 Dealer in the Boating Industry Top 100 Awards in 2024, giving Vision Marine a nine-location retail and service footprint across Florida, the U.S. boating capital.Alexandre Mongeon, CEO and Co-Founder of Vision Marine, stated: \"Since our ground-up inception in 2013, Vision Marine has built a diversified platform: durable electric boat rental operations, strategically aligned government programs, and pioneering boat design. Today, we are entering a critical inflection point: accelerating a scalable, equity-focused growth engine by integrating our proprietary propulsion technology with Nautical Ventures' expansive retail footprint. The renewal of my mandate underscores the Board's unwavering confidence in our ability to translate this blueprint into measurable shareholder value-through disciplined capital allocation, accelerated cash flow generation, and clear milestones in market expansion, technology licensing, and fleet deployments. We are laser-focused on delivering superior risk-adjusted returns, broadening our investor base, and establishing Vision Marine as the leading, sustainable propulsion platform in global maritime markets.\"Executive Employment AgreementIn connection with the renewal of his appointment, the Company has entered into an Executive Employment Agreement with Mr. Mongeon that includes a bonus for the completion of the Nautical Ventu...