HUNTSVILLE – Bill Roark has stepped down as CEO of Starfish Holdings and has assumed the role of Chairman of the Board, the company announced Wednesday. Company President John Watson has been promoted to CEO.
Starfish Holdings is the parent company of Torch Technologies, Freedom Real Estate & Capital, and Simvana.
In addition to his role as CEO of Starfish, Watson will continue to serve as president of Simvana. The role of Torch President Brad Walker will remain unchanged, the company said in a news release.
Roark’s move to chairman will enable him to dedicate more time to the operations of Freedom, a wholly owned subsidiary of Starfish, the company said. “Freedom is experiencing rapid growth and has recently announced two new development projects.”
The projects include a 54,000 square-foot, Class A office building at Hays Farm, the first of its kind in south Huntsville in the last three decades, and a 105,000 square-foot facility, the first of five buildings in the Freedom Industrial Park in north Huntsville.
“Long-term succession planning is critical for companies to maintain their growth trajectory,” Roark said. “Growth from within is critical to maintaining the special culture we have created across our portfolio of companies.
“John has done an exceptional job of leading Torch while serving as president of Starfish and Simvana. He is the perfect choice for CEO and will continue the success of Starfish and our portfolio of companies moving forward.”
As CEO of Starfish, Watson will provide strategic leadership and assume day-to-day operations of the company. A key element of his position will be balancing the opportunities and risks for the Employee Stock Ownership Program which serves all the Starfish portfolio companies.
“I am excited to assume the role of CEO for Starfish Holdings,” he said. “I look forward to seeking more opportunities where our portfolio companies can work together to provide our customers with even greater value.”
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