Craig Barrie, a 30-year veteran of the marine industry, was named general manager of the four American Marine Holdings Inc. boat companies: Baja Marine, Donzi Marine, Fountain Powerboats and Pro-Line Boats.
All four lines are built in Washington, N.C.
“Craig has experience and leadership in every facet of running a boat company and will lead the drive to bring the four companies back to success,” according to Ronald Glass, a principal in GlassRatner Advisory & Capital Group who was named temporary receiver for the company in October.
“This is not a bankruptcy receivership,” Glass said in a statement. “It is, rather, a reorganization program. We are currently finishing boats that are on order, and we want to see the company get back into full production as soon as possible.”
The receiver was appointed by a North Carolina Business Court judge as part of First Capital's case against Fountain Powerboats and other defendants, including American Marine Holdings, Donzi Marine, Pro-Line Boats, Fountain Powerboats LLC, Fountain Powerboat Industries, Fountain Powerboats Inc., Fountain Dealers’ Factory Superstore, Baja by Fountain.
First Capital is seeking $61.04 million in damages from Fountain Powerboats and other entities for the "borrower defendants' " alleged breach of loan agreements, according to court documents. Many of the defendants have filed motions to dismiss the case.
Barrie joined American Marine Holdings four years ago and has been sales and marketing vice president for both Donzi and Baja.
Before joining Donzi in 2007, Barrie was sales vice president at the Marex Co. and later designed, built and marketed the 38-foot Dragon powerboat, which has since been sold to a company in Europe.
From 1984-1992, he was vice president of sales and marketing for Cigarette Racing Team Inc. and was president and CEO from 1992 until the company was sold in 1999.
He was also a professional high-performance boat racer for more than 10 years in both Offshore and Formula One series and holds world and national championship titles (both on the wheel and on the throttles) in the Open and Superboat Offshore Racing Classes.
He also previously owned Hawk Marine Power, a high-performance engine builder.