SAFE Boats International has replaced CEO Dennis Morris with the company’s chief financial officer, Richard Schwarz. The announcement was made through a statement from the board of directors. The Bremerton, Washington builder makes both recreational and commercial boats.

SAFE Boats chairman and co-founder Scott Peterson said the board parted ways with Morris after saying that their visions for the company were not in "perfect alignment." Morris joined the company in 2014. "We appreciate everything Dennis has done but it was time for a change," Peterson said in the statement. Peterson added that the change of leadership does not signal any changes in the direction of the company.

Schwarz has been the company’s chief financial officer since 2015. SAFE Boats employs about 250 workers. SAFE Boats expanded its overseas business during the time Morris led the company.