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LOUDON, TN - Malibu Boats, Inc. (NASDAQ:MBUU), a leading manufacturer in the boat industry with annual revenue of $734 million, disclosed a significant change in its executive team this week. Steven D. Menneto, previously the Chief Executive Officer (CEO) and a director of the company, has assumed the role of President as of Monday. This transition follows the departure of former President Ritchie L. Anderson. According to InvestingPro data, the company’s stock has faced challenges, declining nearly 25% over the past year.
The company’s board of directors had previously announced the appointment of Menneto to the President position in a Form 8-K filed on November 29, 2024. Details about Menneto’s professional background and experience were provided in the company’s proxy statement filed on September 19, 2024.
Malibu Boats is headquartered in Loudon, Tennessee, and is incorporated in Delaware. The company specializes in manufacturing high-performance sports boats and is listed under the Ship & Boat Building & Repairing Industry category (SIC Code 3730).
This executive shift is part of the company’s planned leadership changes and was officially effective as of February 7, 2025. The information about these changes was confirmed in a Current Report on Form 8-K filed with the Securities and Exchange Commission on today’s date, February 12, 2025.
Investors and stakeholders of Malibu Boats may find further details on this leadership change in the company’s filings with the SEC. The company continues to operate under its established business address in Loudon, Tennessee, with Bruce Beckman serving as its Chief Financial Officer.
This report is based on statements from a press release and does not include any assumptions or forward-looking statements. The focus remains on the factual executive transition within Malibu Boats, Inc.
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