> SUBSCRIBE FOR FREE! 

Mike Riley, the head of the investor group that bought Holiday RV Superstores from its founder more than two years ago, has resigned from his position as chairman of the Holiday RV Superstores Board in order to focus more on his new position as chairman of California-based Imperial Credit Industries Inc.

Replacing Riley as chairman is Marcus Lemonis, who will continue as CEO of the RV retail dealership chain, which operates under the tradename Recreation USA.

Meanwhile, Casey Gunnell, CFO of Fort Lauderdale, Fla.-based Recreation USA, has taken on the additional title of president and he has joined the corporation’s board.

Two outside directors of Recreation USA, William Curtis and David Doerge, also resigned and the company intends to fill those vacancies within 60 days.

Auto industry legend Lee Iacocca remains as a Recreation USA outside director as is the case with investment consultant David Kamm and Lee Sanders, and aeronautics executive from Texas.

Holiday RV Superstores stock fell to a new 52-week low of $1.67 a share in Nasdaq Stock Market trading Wednesday (Oct. 24).