Lynn Wagemann sold his interest in Hacker Boat Co. Inc. to Erin Investments LLC, a holding company owned by George Badcock, the company announced.
Wagemann had been president and CEO of the company.
Wagemann bought Hacker in 2004 and sold an interest to Erin in 2009. Badcock and Wagemann had been working closely together since Erin bought into the Lake George, N.Y.-based company.
Badcock, who has been serving as chairman of the company, also has assumed the role of CEO.
“Lynn’s contributions to the company have been significant and he will be missed,” Badcock said in a statement. “We wish him continued success in his future endeavors.”
Founded in 1908, Hacker is a builder of classic mahogany motorboats. The company builds runabouts, sportboats, launches, tenders, racers and utilities from 24 to 35 feet.