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Twin Cities Entrepreneur Jacobs Out At Genmar

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Nov 9, 2009 7:04 pm US/Central

Twin Cities Entrepreneur Jacobs Out At Genmar

MINNEAPOLIS (AP) ― Twin Cities entrepreneur Irwin Jacobs has been removed as chairman and chief executive officer of his bankrupt boat manufacturer, Genmar Holdings Inc.

The announcement was made late Monday by Manchester Cos., the turnaround management company hired to restructure Genmar.

Minneapolis-based Genmar filed for bankruptcy June 1. The company of about 1,500 employees builds 15 brand of recreational boats, including Champion, Ranger and Scarab.

Telephone calls from The Associated Press to the offices of Genmar and Manchester were not returned Monday evening.

(© 2009 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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