MarineMax keeps it in the family as it names a new CEO

The son of longtime MarineMax Inc. Chairman and CEO William “Bill” McGill Jr. will succeed his father as chief executive officer of the company.

W. Brett McGill was named CEO of MarineMax (NYSE: HZO), headquartered in Clearwater and the nation’s largest recreational boat and yacht retailer, with 63 retail locations in 16 states.

Bill McGill was named executive chairman of the board of directors.

Brett McGill has been with MarineMax since 1998 and held several executive positions since then. Most recently, he was named president and chief operating officer in October 2017. He will retain the president’s title in addition to serving as CEO, the company said.

“Brett’s vast experience, including successfully leading the company’s operations for the past several years, has positioned him well to become the next leader for MarineMax,” Joseph Watters, chairman of the board’s nomination/corporate governance committee, said in a statement.

Watters also thanked Bill McGill for his 20-plus years as CEO, and said he would remain an integral part of MarineMax.

Bill McGill has served as CEO since January 1998, when MarineMax was founded. The company had $1.05 billion in revenue in the fiscal year ended Sept. 30, 2017 and  is among the largest publicly-traded companies based in the Tampa Bay area.

Bill McGill, who is 75 years old, was among the highest-paid CEOs in the area, with $3.4 million in total compensation in fiscal 2017, about half of that in stock awards and the rest in salary and performance-based cash incentives, according to a proxy filing with the U.S. Securities and Exchange Commission.

The company has not yet disclosed whether it will increase pay for Brett McGill in his new role. He received $1.36 million in total compensation in fiscal 2017, the proxy filing said.