Cross Ocean and Cheyne become long-term shareholders
Cross Ocean Partners and Cheyne Capital have formally become Sunseeker’s long-term owners and shareholders following completion of the ownership-transfer process. The two investment groups are backing a multi-year plan intended to strengthen product development, operations and commercial growth.
For yacht buyers and owners, ownership stability matters because new-model programmes, dealer confidence, warranties and long-term after-sales support all depend partly on the financial and strategic direction of the manufacturer. Sunseeker says the new shareholders are supporting significant investment across the business.
Scott Millar moves from adviser to chief executive
Scott Millar will become Chief Executive Officer after initially working with Sunseeker through Teneo on development of the company’s five-year growth plan. Sunseeker says his understanding of that programme and his background in transformation made him the preferred candidate to lead implementation.
Millar has more than 27 years of experience in operational improvement and business transformation. He succeeds the period led by interim CEO Steve Timms, who oversaw the company through its ownership transition and strategic planning phase.
Commercial, strategy and digital leadership is strengthened
Andy Gawthorpe joins as Chief Commercial Officer after senior sales roles at Aston Martin and Triumph Motorcycles. Ian Morgan becomes Chief Strategy Officer, while James Grove has been appointed Chief Information Officer to lead Sunseeker’s digital-transformation programme.
Former Jaguar Land Rover chief executive Adrian Mardell joins as Non-Executive Chairman. Sunseeker says the appointments bring experience from automotive, technology and premium consumer businesses into a leadership team tasked with accelerating growth and improving the customer experience.
Product development remains central to the growth plan
The company says the new ownership is supporting an enterprise-wide transformation across commercial operations, product development and manufacturing. That includes a more ambitious new-product programme intended to expand and refresh the range over the coming years.
Much of Sunseeker’s current portfolio sits directly in LYG’s under-24-metre market, including the Predator, Manhattan and 76 Yacht lines. The practical importance of the management changes will therefore be measured by the pace and quality of new models, production stability and the level of service delivered to owners through the global dealer network.
Official sources: www.sunseeker.com.
