Ed Slack EDITOR’S COMMENT
ibinews.com International Boat Industry | AGUGUST–SEPTEMBER 2019 1
Ed Slack | Editor | IBITS Eliot proclaimed April the cruellest month. Had he been working in
the marine industry today he might have had a rethink and made it June,
given the managerial blood-letting that took place earlier this summer. The
biggest bombshell was the news on June 16 of Hervé Gastinel’s departure as
CEO of Groupe Beneteau to be replaced by chairman Jérôme de Metz. From
an outsider’s perspective, the French builder’s recent robust financials and
dynamic new launch programme should have found its CEO secure in the
role he had held since 2015, but then the manner in which his predecessor
Bruno Cathelinais was ousted might
have given him pause for thought.
A week earlier, across the Channel,
Sunseeker generated its own Richter
scale moment when it announced
the resignation of CEO Christian
Marti, barely 12 months into his role,
and perhaps as significantly, the
appointment of Italian boatbuilding
veteran Andrea Frabretti as his
replacement. Not to be outdone, rivals
Princess announced within hours that its longstanding MD, Chris Gates,
was stepping down after more than 30 years at the helm. He remains at the
brand as special advisor to executive chairman Antony Sheriff. Before the
month was out it was announced that Gregory Yeakle was calling time on
his role as CEO of Emirates-based shipyard Gulf Craft, barely 12 months in.
Is there a lesson to be learned? It’s impossible to draw a direct line
between any of the individual cases above, but together they paint a
picture of life at the top of the boating business becoming a little more
precarious. It’s territory we find ourselves in no doubt as a result of
the industry shifting away from the family/founder-run business
model to the disciplines of more corporate, shareholder-driven
enterprises. Changes of the guard are inevitable and in the right
circumstances are to be welcomed, but if the revolving door is
being pushed a little bit harder now we’d better make
sure we have the very best talent in the wings – and as
importantly, the wherewithal to hold on to it.Together they paint a
picture of life at the top
of the boating business
becoming more precarious
Ed SlackWHO’S WHO ATEDITORIALEditorial Director: (^) Ed Slack
Tel: +44 (0)7984 026 733 Email: [email protected] Editor: Belinda Snell co.uk
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If the revolving
door is being
pushed a little bit harder
now we’d better make sure
we have the very best talent
in the wings