Dr. Bennett received the 2002 Diving Equipment and Marketing Association (DEMA) Reaching Out Award for his contribution to the diving industry, and the Ernst and Young Entrepreneur of the Year 2002 award for contributions to business in the life sciences. He stepped down as President of the Divers Alert Network of America on 30 June 2003, after 23 years at the helm. Bennett was pressured by board members to step down, in reaction to alleged improprieties in his handling of the organization's finances.