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MasterCraft Announces Management Transition

 

Vonore,TN—-MCBC Holdings, Inc. ("MasterCraft"), manufacturer through its subsidiaries of MasterCraft and Hydra-Sports performance watersports and sport fishing boats, today announced that President and CEO John Dorton plans to step down from his position leading the day to day operations of MasterCraft and its subsidiaries later this year. The Company's Board of Directors has initiated a search for a successor and expects the transition to occur over the next several months. Dorton will remain in his current role until a successor is appointed and will continue to serve the Board and the new CEO as a Special Advisor following the transition.

 

Dorton joined MasterCraft in 1996 as head of marketing. He was promoted to President and CEO in early 1999. "Today is a good breakpoint for me and the company. While the last several years have been challenging for the whole industry, the MasterCraft business is in great shape. We have the number 1 brand in inboard market share and have a full pipeline of new products, strong operations, a healthy dealer network and a great management team," Dorton said. "Sixteen years is a long time and the board and I both believe that the time is right for this transition."

 

"We would like to thank John for his many years of outstanding service to MasterCraft," said Chris Keenan of Wayzata Investment Partners LLC, a member of the MasterCraft Board of Directors. ”John has been instrumental in the growth of the business over the last 16 years, and we very much appreciate his efforts in navigating the company through the choppy industry waters of the last few years. John leaves MasterCraft well positioned for the future, and we look forward to working with him to transition the business to new leadership to carry the company to the next phase of its success.”

 

”This great company has been a big part of my life and my family's life for a long time," Dorton continued. "I will always value the friendships I have made here with MasterCraft's great dealers, customers, vendors, my industry peers and the exceptional MasterCraft team in Vonore." Dorton said that he plans to take time to travel with his wife of 26 years, do some mission work, enjoy their quarter horses and of course wakeboard and fish. Professionally, Dorton will continue to serve as a director for companies in the aviation and electric vehicle space and plans to take on additional board appointments and consulting opportunities as well.