Malibu Boats President Ritchie Anderson Retires

By Bobby Samwell • Friday, November 29 10:21 • Permanent Link

Malibu Boats, Inc. has announced a leadership transition with the retirement of President Ritchie Anderson, effective February 7, 2025. Upon his retirement, the company's Chief Executive Officer, Steve Menneto, will assume the role of President, while Donna Tallent, Senior Vice President of Operations, will take on leadership for MBI operations.

Anderson's retirement comes after a distinguished career in the powerboat manufacturing industry spanning over four decades, including 12 years with Malibu Boats. During his tenure, he held various leadership roles, including Vice President of Operations, Chief Operating Officer, and most recently, President.

Under Anderson's leadership, Malibu Boats, Inc. has been positioned for continued success with a deep leadership team that embodies the company's core values of delivering the highest quality boats in the marine industry. Menneto expressed his gratitude for Anderson's instrumental role in developing MBI into an industry leader.

Reflecting on his 40 years in the industry, Anderson expressed immense pride in the teams and culture built across all the MBI companies. He highlighted the dedication and commitment to excellence as the foundation of MBI's success and expressed confidence in the continued drive and seizing of new opportunities under Menneto and Tallent's leadership.

About Malibu Boats, Inc., the company is based in Loudon, Tennessee, and is a leading designer, manufacturer, and marketer of a diverse range of recreational powerboats, including performance sport, sterndrive, and outboard boats. The company is the market leader in the performance sport boat category through its Malibu and Axis boat brands, holds a leading position in the saltwater fishing boat market, and is recognized as an innovator in the powerboat industry.

The shift in leadership at Malibu Boats, Inc. marks a significant change for the company as it looks to continue its legacy of excellence in the powerboat manufacturing industry. Today the company's shares have moved 0.1% to a price of $43.67. Check out the company's full 8-K submission here.

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