BY APB STAFF on 23 Nov 2021

Paul Grys is appointed CEO, while former CEO Derek Carter re-joins the British builder as chairman

Paul Grys Fairline

Paul Grys, Fairline’s new CEO

Britain’s Fairline Yachts has confirmed the appointment of Paul Grys as its new CEO, while former CEO Derek Carter also re-joins the motoryacht builder as chairman.

Grys has previously spent two decades at leading British construction equipment manufacturer JCB, where he held the position of managing director for a number of significant JCB Business Units.

Fairline says Grys will oversee growth as the company seeks to expand production, improve its quality and support its growing worldwide dealer network in the coming years.

Paul Grys, CEO of Fairline Yachts 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. With our heritage, our passionate workforce and exciting product range, we will create a strategy to seize a greater share of this market globally.”

Derek Carter Fairline

Derek Carter, Fairline’s new chairman, was CEO from 1996-2011

Fairline’s outgoing CEO Peter McNulty, who took on the role on an interim basis over two years ago, has successfully taken the company through a significant financial restructuring, in which Fairline Yachts was acquired in June 2021 via the Hanover Active Equity Fund II.

Newly appointed chairman Derek Carter was CEO of Fairline Yachts for 15 years from 1996 to 2011. He then became CEO of Portakabin and subsequently its parent company, The Shepherd Building Group. Derek will commence his new role in January 2022.

Fairline Squadron 53

Fairline Squadron 53 in Hong Kong

Jason Carley, a senior partner at Hanover Investors, adds, “Peter has led Fairline through unprecedented times and his efforts have positioned the company for success. He navigated the challenges of restructuring the business, Brexit and the Covid pandemic to position Fairline back at the pinnacle of British boatbuilding. We thank him for his valued contribution and wish him well in the future.”

He continues: “In Paul, we have a proven leader in operationally complex businesses as we focus on optimising the Fairline¬†factory to drive even higher levels of quality and efficiency to support the exciting new model range being introduced over the coming years. And we are privileged that someone with Derek’s reputation in the industry is returning to the¬†Fairline¬†family as Chairman, working with Paul and the entire workforce to build on the strong foundations we have.”