Less than two years after taking a minority stake via a capital injection in Camper & Nicholsons International, Italian superyacht yard Fincantieri S.p.A. has increased its shareholding in the yachting brand to 50%.
Fincantieri now shares 50% of the brand with Asian co-shareholder, Lai Sun Development. The Asian company announced its stake in Camper & Nicholsons in October last year.
Changes have also been made to the C&N executive team, including the immediate departure of Michael Payne as Chief Executive Officer. As part of his 22-year tenure, Mr. Payne played an instrumental role in preparing C&N for its current phase of growth with its new shareholders.
Recently appointed Managing Director of Camper & Nicholsons International, Paolo Casani, added: “We are very fortunate to have Fincantieri and Lai Sun as equal shareholders, providing the robust financial backing and active involvement needed to take C&N to even greater heights of success in the years to come.”