Due to personal reasons, Christian Marti resigned as Sunseeker CEO last week after having been appointed only recently in late-2018. Taking his place is Andrea Frabetti, who has stepped up from being the company’s Chief Technical Officer to now work as CEO. With over 25 years of marine industry experience, Frabetti has already announced a new Strategic Committee to support a major new product development plan.Over the next five years, the new plan will be aided by a £50million CAPEX investment which aims to see the current Sunseeker range double in size to feature 22 models by 2022. Sean Robertson, Sales Director commented: “New and exciting products breed growth in this market and the response we have received for our latest models has been nothing short of incredible. We are confident this is going to continue as we are making a considerable investment across the business to support a bold product development plan that will see the current range doubling in size to 22 models during the next three years which, allowing for older models being phased out, will involve 27 updated or entirely new models being introduced."“These new models will include new product segments as well as improved differentiation between various lines. To enable this, we are actively developing our existing footprint as well as seeking new facilities and partnership opportunities. Most importantly, our 2,500 colleagues across the business remain intrinsic to our future success; retaining and further enhancing the quality that they deliver with such passion daily will remain key,” added Andrea Frabetti.Photo: Barry QuinceReflecting on some of the incentives ex-CEO Christian Marti spoke of earlier this year, the Sunseeker Strategic Committee plan on building on the anticipated positive financial results for 2018, as explained by Mike McMillan, CFO: “Sunseeker’s Group revenue continues to rise but much more importantly, gross profit has increased by over a third due to a significant improvement in gross margins and consequently there has been substantial growth in retained profits. Most encouraging is the progression of our underlying business results which is encouraging and a credit to the Sunseeker team.”
SuperYacht Times - The State of Yachting 2020
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