70 AUGUST–SEPTEMBER 2019 | International Boat Industry ibinews.com
Strategy & Finance
Q&A | STEPHEN HEESE
Stephen Heese at the Chris-Craft helmC
elebrating its 145th anniversary
with the 2020 model year,
the senior management
team at Chris-Craft Boats was in a
particularly festive mood in early July
as the company welcomed dealers, VIP
customers and media to its Summer
Showcase buying event in Sarasota,
Florida. It’s been a little over a full year
since the iconic US fibreglass boat
builder came under new ownership,
following its June 2018 acquisition
by recreational vehicle manufacturer
Winnebago Inc.At the time of the acquisition
Winnebago, which is publicly traded on
the New York Stock Exchange, committed
to investing in Chris-Craft with a view
to making the premium brand more
accessible, including a commitment to
broaden the scope of its product portfolio
to include more small boats. Fittingly,
new models for Chris-Craft’s 2020 model
year include a 25ft Launch GT model
with outboard power and, perhaps even
more surprisingly, a Launch 28 GT Surf
Edition – the first Chris-Craft designed
specifically with wakesurfing in mind.“I'm fairly obsessed
by how consumer
tastes are evolving”
CHRIS-CRAFT’S PRESIDENT AND CEO SPEAKS WITH IBI ABOUT
SALES TRENDS, WORKING WITH WINNEBAGO AND WHAT THE
FUTURE HOLDS AS THE ICONIC US BOATBUILDER CELEBRATES
145 YEARS IN BUSINESSWORDS: CRAIG RITCHIEPresident and CEO Stephen Heese
remains firmly at the helm of the
company that he and partner Stephen
Julius rescued from the ashes of
the Outboard Marine Corporation
bankruptcy 18 years ago. He spoke with
IBI in early July as Chris-Craft unveiled
its 2020 model year lineup and prepared
to celebrate 145 years in the recreational
boating business.It’s been 13 months since the acquisition by
Winnebago. How are things progressing?
Winnebago have proven to be a
wonderful parent company. They’re
passionate about quality and service, and
with an equal emphasis on building win-
win relationships with their dealers and
end-users. That’s something which fits
very closely with our own core values.
When we negotiated the acquisition,
we felt that Winnebago would be a very
strong steward of our brand and people,
and that they would continue to build
on the company’s reputation and legacy.
They’ve demonstrated their track record
in doing that, and it’s been wonderful.
Our whole management team remains in
place, and we’re accelerating our product
development plan as scheduled.
Chris-Craft wasn’t for sale. But we got
to know the senior management team
at Winnebago, and we came to realise
that both our companies were essentially
in the same business, building positive
relationships with dealers, building
great products, looking after the retail
customer, looking after our people,
looking after the environment and the
communities where we operate.
Having built our company out of the
OMC bankruptcy in 2001, Chris-Craft is
something that we continue to hold near
and dear. But the simple fact is, none of
us are getting any younger and even if
your company is your family, you know
that one day you’re going to have to sell
it. You can’t just auction it off to the
highest bidder, because it is your family,
and you’re making a decision that will
impact your entire team. We felt that the
leaders at Winnebago shared our values
so closely that they would look after our
people, our customers, and our brand just
as we have. We felt there was a natural fit,