Fairline Yachts appoints new CEO and chairman
British motorboat manufacturer Fairline Yachts has announced Paul Grys will succeed Peter McNulty as its new chief executive officer. Former Fairline CEO Derek Carter is also re-joining the boatbuilder as chairman.
Grys is a veteran of JCB, having spent nearly two decades at the company as managing director for a number of JCB Business Units.
Fairline says that Grys will drive the next stage of the company’s growth, as it “expands production, further improves quality, and continues to support its growing worldwide dealer network.”
In September 2021, MIN reported that DF Capital has doubled its facilities, enabling the British yacht manufacturer to finance the building of more boats throughout 2021 and beyond. Fairline Yachts has worked with DF Capital since 2017.
Grys says: “It is a really exciting time to be leading this very special company. The pandemic has led to a surge in demand in the luxury yacht market and Fairline is in a great position to benefit from this.”
Fairline’s outgoing CEO Peter McNulty took on the role on an interim basis over two years ago. During his tenure, he has overseen the company through significant financial restructuring, including bringing in Hanover Investors as its shareholder in June 2021.
“Peter has led Fairline through unprecedented times and his efforts have positioned the company for success,” says Jason Carley, a senior partner at Hanover Investors. “We thank him for his valued contribution and wish him well in the future.”
Derek Carter returns to Fairline as chairman, and will start his new role in January 2022. Carter was previously CEO of Fairline Yachts from 1996-2011. He then became CEO of Portakabin and subsequently its parent company, The Shepherd Building Group.