OneWater Marine Announces the Appointment of Steve Roy to its Board of Directors
August 12 2022 - 4:05PM
OneWater Marine Inc. (NASDAQ: ONEW) (“OneWater” or “the Company”)
today announced the appointment of Steve Roy to the Company’s Board
of Directors (the “Board”) as an additional independent director,
effective as of August 12, 2022. This appointment will increase the
size of the Board from ten to eleven directors, nine of whom are
independent.
“We are thrilled to welcome Steve to the Board
of Directors. His financial expertise across multiple industries,
including logistics and retail, will provide valuable insights as
we continue to advance OneWater’s growth strategy,” said Mitchell
Legler, OneWater’s Chairman of the Board. “Steve’s proven financial
leadership further strengthens our Board, supporting enhanced value
creation for our shareholders.”
Mr. Roy currently serves as an independent
financial advisor managing investment activities for a large family
office. Prior to working independently, Mr. Roy was the Chief
Financial Officer for AAA Cooper Transportation (“ACT”) from 2004
to 2019, a multi-regional logistics company. Mr. Roy simultaneously
served as a member of the ACT Board of Directors. Prior to that, he
was the Executive Vice-President and Chief Financial Officer of
Movie Gallery, Inc., a Nasdaq-listed video specialty retailer. Mr.
Roy has served on the University of Alabama President’s Cabinet,
and as a Director at the Business Council of Alabama and the Dothan
Area Chamber of Commerce. Mr. Roy earned his B.S. in Accounting
from the University of Alabama.
About OneWater Marine Inc.
OneWater Marine Inc. is one of the largest and
fastest-growing premium marine retailers in the United States.
OneWater operates a total of 96 retail locations, 10 distribution
centers/warehouses and multiple online marketplaces in 20 different
states, several of which are in the top twenty states for marine
retail expenditures. OneWater offers a broad range of products and
services and has diversified revenue streams, which include the
sale of new and pre-owned boats, finance and insurance products,
parts and accessories, maintenance, repair and other
services.
Cautionary Statement Concerning
Forward-Looking StatementsThis press release may contain
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995, including regarding our
strategy, future operations, financial position, prospects, plans
and objectives of management, growth rate and its expectations
regarding future revenue, operating income or loss or earnings or
loss per share. In some cases, you can identify forward-looking
statements because they contain words such as “may,” “will,” “will
be,” “will likely result,” “should,” “expects,” “plans,”
“anticipates,” “could,” “would,” “foresees,” “intends,” “target,”
“projects,” “contemplates,” “believes,” “estimates,” “predicts,”
“potential,” “outlook” or “continue” or the negative of these words
or other similar terms or expressions that concern our
expectations, strategy, plans or intentions. These forward-looking
statements are not guarantees of future performance, but are based
on management's current expectations, assumptions and beliefs
concerning future developments and their potential effect on us,
which are inherently subject to uncertainties, risks and changes in
circumstances that are difficult to predict. Our expectations
expressed or implied in these forward-looking statements may not
turn out to be correct.
Important factors, some of which are beyond our
control, that could cause actual results to differ materially from
our historical results or those expressed or implied by these
forward-looking statements include the following: effects of
industry wide supply chain challenges and our ability to maintain
adequate inventory, changes in demand for our products and
services, the seasonality and volatility of the boat industry, our
acquisition and business strategies, the inability to comply with
the financial and other covenants and metrics in our credit
facilities, cash flow and access to capital, effects of the
COVID-19 pandemic and related governmental actions or restrictions
on the Company’s business, risks related to the ability to realize
the anticipated benefits of any proposed or recent acquisitions
within the anticipated time frame if at all, including the risk
that proposed or recent acquisitions will not be integrated
successfully, the timing of development expenditures, and other
risks. More information on these risks and other potential factors
that could affect our financial results is included in our filings
with the Securities and Exchange Commission, including in the “Risk
Factors” and “Management’s Discussion and Analysis of Financial
Condition and Results of Operations” sections of our Annual Report
on Form 10-K for the fiscal year ended September 30, 2021 and in
our subsequently filed Quarterly Reports on Form 10-Q, each of
which is on file with the SEC and available from OneWater Marine’s
website at www.onewatermarine.com under the “Investors” tab, and in
other documents OneWater Marine files with the SEC. Any
forward-looking statement speaks only as of the date as of which
such statement is made, and, except as required by law, we
undertake no obligation to update or revise publicly any
forward-looking statements, whether because of new information,
future events, or otherwise.
Investor or Media
Contact: Jack Ezzell Chief Financial
Officer IR@OneWaterMarine.com
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