Reggie Fountain Resigns From Fountain Powerboats.

Reggie Fountain, CEO and president of Fountain Powerboats, has resigned
from the company.

Fountain, who spoke with NewsChannel 12, said there was "a very
substantial difference of opinion and philosophy" between him and the
new owners, Liberty Associates.

"It's certainly a sad day when you have to walk out of your own company
that you created," said Fountain. "I did all the engineering, all the
manufacturing, all the sales, all the marketing. I had some good help,
no doubt about it."

Fountain said Liberty Associates wanted him to sign a no-compete clause,
but he chose not to.

"I've never had a contract not to compete with anybody and I don't ever
intend to have one," said Fountain.

The announcement comes less than a month after Fountain Powerboat
Industries Inc., said they would expand in Beaufort County and bring two
Florida-based boat lines, Donzi Marine and Pro-Line Boats, to Washington.

"We did, in Fountain Powerboats, more than anyone else ever has in the
history of performance boating," said Fountain. "We did just over one
billion dollars in sales".

Fountain, whose company has been in business for over 30 years, said he
is now looking at all of his options.

"It's a short life we all live," said Fountain. "The world is full of
opportunities, so I'm going out and looking for an opportunity. I think
I'm very well equipped to take advantage of any of those that might be
there."

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I'm sure Reggie will land on his feet, but I doubt Fountain Powerboats
will.