Marine Products Corporation (NYSE: MPX) has announced several changes to its management team and board of directors. Marine Products manufactures fiberglass boats under the Chaparral and Robalo brands. Chaparral sterndrive models include SSi and SSX, as well as the Chaparral Surf series. Chaparral’s outboard offerings include the OSX luxury sport boats and the SSi and SSX outboard models. Robalo builds a line of outboard sport fishing boats, which include center consoles, dual consoles and Cayman Bay Boat models.

The following changes to Marine Products’ officers and board of directors are effective immediately:

• The Transition of Richard A. Hubbell, President and CEO, to Executive Chairman of the Board
• Gary W. Rollins’ resignation as non-executive chairman of the board of directors of Marine Products Corporation, while remaining a director of the company
• The promotion of Ben M. Palmer, Chief Financial Officer, to President and Chief Executive Officer, and his election by the Board as a Class I Director
• The appointment of Michael L. Schmit as Chief Financial Officer and Corporate Secretary

“Our announcement today is consistent with our history of management continuity,” said Richard A. Hubbell, Executive Chairman. “I am pleased to continue my long association with Marine Products Corporation and our Board of Directors as we continue our more than 56 year history of producing exceptional pleasure craft with broad consumer appeal and market share. I also express my complete confidence in Ben as he takes on this new role.”

“I am thrilled to take on this new role at Marine Products Corporation,” said Ben M. Palmer, President and Chief Executive Officer. “Our permanent operational management team will continue to operate both of our brands and deliver strong financial results. The management team will leverage our deep industry knowledge to pursue strategic growth opportunities and pursue the strategy to We are also delighted to welcome Mike Schmit to our management team Mike has a wealth of successful finance and accounting experience in several multinational manufacturing companies, including experience in public companies, integration of business combinations and financial management. I am confident that this experience will serve him well in this role at Marine Products Corporation.”