Harley Franco has been ousted from the company he founded, Seattle-based Harley Marine Services.
According to the Seattle Times this is “ the latest step in a struggle for control that erupted last summer” as a legal battle broke out between Franco and Australian based private equity investor Macquarie, a minority Harley Matine shareholder.
Yesterday, a press release issued by Harley Marine said:
The Board of Directors of Harley Marine Services today announced that Harley Franco will no longer be serving as the Company’s Chief Executive Officer.
Matt Godden will remain as President of the Company.
“Since the beginning of 2019, Harley Marine has made significant progress in ensuring its long-term stability as one of the nation’s leading marine transportation providers” says Matt Godden. “Harley Marine is renowned for its track record in safety and operational capabilities and we intend to continue with this unparalleled commitment to quality.”
According to Jon Foster, the successor Chairman of the Board of Directors, “we believe that Matt, his leadership team, and all employees will aggressively move the Company forward, effectively serving our valued customers across the country. The Company, Matt and his leadership team, are well prepared to take advantage of the opportunities arising from the rapid changes in our industry.”