Jack Springer will step down from his role as chief executive officer of Malibu Boats Inc., on or before May 17.
Malibu’s current chief operating officer Ritchie Anderson will be promoted to president effective immediately. Michael Hooks, current Malibu Boats chair, will be executive chair until a new CEO is announced.
“For more than 15 years, I have had the honor of serving as Malibu’s CEO,” Springer said in a statement. “During that time, we have experienced explosive growth, margin expansion and cash flow generation. We have also acquired five companies, including the addition of three premium brands — Cobalt, Pursuit and Maverick Boats — to become one of the largest producers of fiberglass power boats in the world.”
Springer will resign as director of Malibu’s board of directors when he departs the office of CEO. If a new chief executive has not been appointed at the time of Springer’s departure, an interim office of the CEO, including Anderson and Hooks, has been established and will assume the role of CEO.
Anderson has more than 41 years of experience in the recreational boating industry. Hooks has been a member of the Malibu board since 2006 when he was a co-founder of Black Canyon Capital, which acquired Malibu’s assets from its founder.
