John E. Walker is the new head of Fountain Powerboats following the departure of Reggie Fountain.
"Effective immediately, John E. Walker is appointed to the position of president and CEO of Fountain Powerboats. Mr. Walker's career spans over 28 years in the boat manufacturing industry and Liberty is confident of his executive management abilities and his integrity to move Fountain forward with its strategic growth plan for the future," Liberty Associates CEO Bill Gates said in a statement.
"John has performed admirably as CEO of American Marine Holdings, steering the company through the very difficult times that the boat manufacturing industry has experienced recently," Gates added.
In addition to serving as president of American Marine Holdings, owner of Donzi Marine and Pro-Line, Walker was recently appointed president and CEO of Baja Marine.
"The entire team at Fountain Powerboats wishes Mr. Fountain the best of luck; and the company would welcome him back at any time," Gates added.
Fountain announced his resignation Friday afternoon from the company he founded more than 30 years ago.
"There are key differences in opinion and philosophy between the current owners and myself on how to run the company," he said in a statement.