NextBoat has appointed Ross Tannenbaum as chief executive officer with immediate effect, replacing Brian John, who will remain on the board during the transition.
The Wilmington, North Carolina-based company said Tannenbaum will focus on strengthening its core operations, moving towards profitability and expanding its technology-led marine marketplace across the US.
NextBoat operates boat brokerage, wholesale acquisition, auctions, finance and marine services through businesses including Off The Hook Yachts, Autograph Yacht Group and Azure Funding.
Tannenbaum previously served as president and chief executive of listed sports merchandise company Dreams before its acquisition by Fanatics in 2012.
He later held senior roles at Fanatics, including president of retail and collectibles.
Technology-driven marine platform
Jason Ruegg, president of NextBoat, said Tannenbaum’s experience scaling consumer businesses made him suited to the company’s next phase.
“We have built something truly unique: a public, technology-driven marine platform with the ability to buy, sell, finance, and service boats at national scale,” he said.
Tannenbaum added: “Now our focus is execution: strengthening the core business, driving profitability, and scaling what works.”
As part of the appointment, NextBoat’s compensation committee approved options over as many as 2.5 million common shares, subject to NYSE American approval.
