8-K
filed February 20, 2024, 6:59 PM ET
ticker MBUU
CIK 0001590976
leadership
confidence high
sentiment neutral
materiality 0.65
CEO Jack Springer to depart by May 17; Anderson named President, Hooks Executive Chair
MALIBU BOATS, INC.
- Springer to resign as CEO and Board member by May 17, 2024; will serve as consultant for up to 4 years with equity vesting.
- Ritchie Anderson promoted from COO to President; base salary raised to $650k, target bonus 90%, $4M RSU grant over 4 years.
- Michael Hooks appointed Executive Chair; receives $50k/month fee, $10k monthly discretionary bonus, $230k fully vested shares.
- FY2024 guidance reaffirmed: net sales decline mid-to-high 30% YoY, Adj. EBITDA margin down 800-900 bps YoY.
- Board initiates search for permanent CEO; interim Office of CEO comprised of Hooks and Anderson.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Michael Hooks was appointed as Executive Chair at MALIBU BOATS, INC..
- Action
- appointed
- Role
- Executive Chair
Exact text from the filing
the Board appointed Mr. Michael Hooks to serve as Executive Chair of the Company and Mr. Ritchie Anderson to serve as President of the Company, in each case effective on February 20, 2024
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Mark Lanigan was appointed as Lead Director at MALIBU BOATS, INC..
- Action
- appointed
- Role
- Lead Director
Exact text from the filing
the Board appointed Mr. Mark Lanigan as Lead Director, effective on February 20, 2024
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Jack Springer resigned as Chief Executive Officer at MALIBU BOATS, INC..
- Action
- resigned
- Role
- Chief Executive Officer
Exact text from the filing
On February 15, 2024, Malibu Boats, Inc. (the “ Company ”) and Mr. Jack Springer mutually agreed that Mr. Springer will cease to serve as Chief Executive Officer, effective May 17, 2024
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Ritchie Anderson was appointed as President at MALIBU BOATS, INC..
- Action
- appointed
- Role
- President
Exact text from the filing
the Board appointed Mr. Michael Hooks to serve as Executive Chair of the Company and Mr. Ritchie Anderson to serve as President of the Company, in each case effective on February 20, 2024
View on SEC.gov
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