Nautic Global Group named James R. Malone as chairman of the board and CEO.
Malone, a former CEO of five Fortune 500 companies, has served as a consultant to Nautic since earlier this year.
He succeeds CEO Mike Kitson, who is leaving the company to pursue new opportunities, the company announced.
“I am excited to join Nautic Global Group and to work with the talented leadership team to pursue the objective of becoming the leading producer of high-quality boats globally,” Malone said in a statement. “On behalf of Nautic Global Group I want to thank Mike for his contributions over the past few years as he steered the company into a period of growth.”
“I’m confident that NGG is on the brink of producing not only improved results, but making significant strides to become an even better boat manufacturer,” Malone said.
Malone is the senior managing partner of Qorval, which specializes in providing C-level leadership, experience and expertise to improve operational results at companies across industries and sectors. He also serves on the board of Regions Financial Corp. and Ametek Inc.
“I look forward to leveraging my operational experience and the knowledge I gained consulting closely with Nautic Global Group’s management team to move the company forward as we fulfill our mission of delivering ‘A Boat For Every Passion,’ ” Malone said. “I am committed to working with our worldwide dealer network to ensure we meet their evolving needs while continuing to innovate and enhance our position as an industry leader.”
Malone earned a bachelor’s degree from Indiana University and he attended Northwestern University’s Kellogg School of Management and its Institute in International Management in Burgenstock, Switzerland.