Reggie Fountain Resigns, Eyes New Direction

Amid plenty of speculation over the past few weeks, Reggie Fountain, the legend behind Fountain Powerboats, announced his resignation today from the Washington, N.C., company that he founded more than 30 years ago and developed into one of the world’s leading high-performance boat builders.

Powerboat’s calls to Fountain went unreturned on Friday afternoon (Dec. 10), but here are his comments from a press release that was sent out.

“When I first started building performance sport and fishing boats in the late 1970s, I was personally involved in every facet of the operation,” Fountain said. “At this stage of my career I’ve come full circle and want to return to the custom, one-on-one roots I started with.

“There are key differences in opinion and philosophy between the current owners and myself on how to run the company,” he added. “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. The performance boat business is changing fast and there are certain basic elements that must be in place to succeed.”

Earlier this year, Fountain Powerboats emerged from bankruptcy thanks to the financial backing of Liberty Associates. The company, which is led by CEO Bill Gates, also owns the Baja Marine brand and American Marine Holdings, which is the group behind the Donzi and Pro-Line brands. Liberty Associates had recently announced that the manufacturing operations of Donzi and Pro-Line were being relocated from production facilities in Sarasota and Crystal River, Fla., to the 250,000-aquare-foot, 66-acre Washington plant.

“We’ve sold more than a billion dollars worth of boats since we started,” Fountain concluded in the press release. ”And although I’m not able to announce any firm plans moving forward, boat building has always been my passion and the future looks both exciting and challenging.”

Stay tuned for news at PowerboatMag.com and in Powerboat magazine.

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Chad makes this comment

Sunday 2 January, 2011

Sad news, too bad Fountain only stayed small, and only made high-end power boats to the main stream high end customers, when you merge too many companies together, it's hard to make it all work....

I have the highest respect for Reggie, he has brought so much change and excitement to the sport of power boating, anyone that knows him and has bought a boat from him, knows how he treats customers and makes sure the customers are #1. Unless he has some health issues starting, you can count on him on creating another chapter in power boating history! A Fountain will never be a fountain without Reggie!

A toast to one of the best pioneers of Power Boating!
Phil Moss makes this comment

Saturday 1 January, 2011

Extremely sad to hear this piece of bad news. He is and always was what has made fountain powerboats the legends that they have been to date. I have been a proud Fountain owner since 1996 (Our first boat I might add) and have always been impressed with our machine and the service the factory provided. I will be looking for greater things to come from Reggie as he is the man.
Cat Food makes this comment

Sunday 12 December, 2010

It is rumored that he is going to start a franchise, selling hair coloring, warm-up suits and gold chains. Should do well in urban areas.
Phillip makes this comment

Saturday 11 December, 2010

Elvis has left the building - no doubt, Fountain will never be the same without him. We can't wait to see your next project Reggie! Take some time off and then get back to boat building!
erik paterson makes this comment

Saturday 11 December, 2010

don't like this news at all, reggie you are the king and fountain will never be the same without your dedication to the industry, PLEASE DO what you can do to stay involved!!
Aime Lynne Fountain makes this comment

Friday 10 December, 2010

Sad to hear this, but the king will live on! The others left behind will fall into their own traps they have set for themselves. You can bet that Reggie Fountain will come out on top! Always does!

A Fountain is not a Fountain without Reggie!

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