Skip to main content

Reggie Fountain resigns

Reggie Fountain, who founded Fountain Powerboats more than 30 years ago, today announced his resignation from the company.

"There are key differences in opinion and philosophy between the current owners and myself on how to run the company," Fountain said in a statement.

"I've always been one that plotted his own course and feel the best ways to utilize my talents is in new-product development, racing and working directly with my customers," he added. "The performance-boat business is changing fast, and there are certain basic elements that must be in place to succeed."

Fountain filed for Chapter 11 bankruptcy protection in August 2009.

After the company was sold to Liberty Associates, Fountain told Soundings Trade Only that he was happy with how things had worked out.

Liberty Associates also is the majority shareholder of Donzi Marine and Pro-Line Boats. It was recently announced that production of both of those lines will be moved to Fountain's Washington, N.C., facility. Liberty also recently announced plans to relaunch Baja as a standalone line.

It also was recently announced that Fountain Powerboats was discontinuing its factory-direct Fountain Factory Superstore, citing new sales strategies.

John Walker, chief operating officer of Fountain, could not be reached for immediate comment this afternoon. A post on the company's webiste says Fountain was on "administrative leave" as of Wednesday.

Fountain's statement did not seem to rule out his return to the boating industry.

"Although I'm not able to announce any firm plans moving forward, boatbuilding has always been my passion, and the future looks both exciting and challenging," he said.

Related

1_WHALESACTION

NMMA: Proposed Speed Rule an ‘Existential Threat’ to Industry

The association is calling on every marine brand, employee and boat owner to file public comment by Oct. 31 over a sweeping regulation to protect North Atlantic right whales.

1_AXOPAR

Axopar and Nimbus Renew Agreement

The boatbuilders have entered an agreement whereby Nimbus Group will retain exclusive rights to sell Axopar boats on the Swedish market.

1_IAN

Hurricane Ian Leaves Devastation in Florida

The storm left a wide swath of destruction, heavily impacting marine interests from Tampa Bay to Marco Island.

Norm

Email Is Your Ticket to Holiday Sales

Developing an effective email campaign can bolster sales and help fill winter coffers at your dealership.

1_NMRA

NMRA Presents Annual Awards

Edson CEO Will Keene and ComMar Sales president Tim Conroy were recognized for their contributions to the marine industry.

1_ PULSE.PING.2

DEALERS: Are Interest Rates Impacting Demand?

This month’s Pulse Report survey asks dealers whether interest rate increases are causing a downturn in boat sales. Take the survey here.

1_EPROPULSION

EPropulsion, Mack Boring Partner with Crest

Pontoon builder Crest will use an ePropulsion Navy 3.0 Evo electric outboard motor and an E175 battery for its 2023 Current model.

1_BENETEAU

Beneteau Reports Significant H122 Growth

The company reported that its revenue grew 8.6 percent and income increased by 30 percent during the first half of 2022.