Torch founder Bill Roark announces retirement; will continue board roles and serve as advisor

HUNTSVILLE – Bill Roark, who took Torch Technologies into a multi-business enterprise, announced his retirement effective today.

Starfish Holdings, of which Roark is a founder, made the announcement. Starfish is the parent company of Torch Technologies, Freedom Real Estate & Capital, and SIMVANA.

“When Don Holder and I founded Torch Technologies in 2002, the goal was to create an employee-owned company with an approach that would allow the founders to retire without having to sell the company,” said Roark. “We have now successfully achieved that goal.

“This is a significant milestone for any employee-owned company.”

Roark will continue to serve as executive chairman of the Starfish Holdings Board of Directors and as a member of the Freedom Real Estate Board of Directors, the company said.

He will remain as CEO of Freedom Real Estate & Capital through a transitionary period. Additionally, he will serve in an advisory/consultant role to promote the continued growth of the Starfish enterprise. 

“We have been working toward this turning point for many years,” said Starfish CEO John  Watson. “We have an experienced, stable management team in place at each of the companies that will enable us to move through this transition with no interruption in day to-day activities.  

“We want to thank Bill for all he has done for each of the companies in the Starfish enterprise. Each of our employee-owners owes a great deal to Bill and Don and their vision for what could be achieved through employee ownership. We wish Bill nothing but the best as he eases into retirement, and I look forward to continuing to work with him on the Starfish Board of Directors and in his new advisory role.”