SEATTLE, Wash. – Robert W. “Bob” Livingston has officially retired from his role as the chief executive officer of Grand Banks Yachts, the company reported in a statement yesterday. He will continue to serve as chairman of the board for Grand Banks, which has traded on the Singapore Stock Exchange since 1987.
Livingston’s retirement comes after 35 years as the company’s CEO. He originally joined the company in 1972, when the boatbuilder was still known as American Marine Ltd.
"I am extremely proud of our team's accomplishments during the many years I’ve had the privilege to lead this company,” said Bob Livingston. “We’ve seen a remarkable evolution as Grand Banks has transformed from a modest builder of stalwart trawlers to one of the most highly-regarded brands around the world."
The board of directors has selected Grand Banks president Robert W. “Rob” Livingston II to assume the additional duties of chief executive officer effective April 1, the company reported.
“I've always believed planning for succession was a critical part of my role and, for the past two years, have been working with the board on a thoughtful succession plan,” said Bob Livingston. “Through that process, Rob emerged as the right person to lead the company and I am confident in his ability to continue to drive the success of Grand Banks Yachts."
Livingston leaves the top post of Grand Banks during what the company called “one of the most tumultuous periods the industry has ever faced.” Such challenging circumstances are not a new or novel experience for the long-time leader, the company pointed out.
“Bob took the helm just as the boating industry was facing the oil crisis of the mid-70s,” said Rob Livingston. “He steered the company through that tremendous challenge and many others over the years. It’s a tribute to his leadership and his abilities that Grand Banks is in such a strong position to weather the current downturn. We are grateful that Bob will remain chairman of the board and work with the team to ensure a smooth transition and bright future."
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