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Princess Yachts appoints Will Green as new CEO

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By Katie Scott   30 August 2023

British shipyard Princess has announced the new appointment of Will Green as its new CEO, bringing over 20 years of experience to the table and a vision to solidify the brand's position as a leading name in the yachting industry.

Taking over from former CEO Antony Sheriff, who left the British brand to pursue other endeavors, Green has extensive knowledge of the well-known motor yacht fleet and has spent many years building up the firm as the Commercial Executive Director. 

Fully backed by the controlling shareholder KPS Capital Partners, the new appointment comes at an exciting time with new models and luxury yacht charters set to be displayed at the forthcoming Cannes Yachting Festival plus ongoing developments with Princess' hometown of Plymouth featuring an exclusive Freeport zone.

Commenting on his new appointment, Will Green says; "It is an honor to be appointed CEO of Princess Yachts. Those who know me will recognize the passion I have for the brand, so this is an exciting opportunity to shape the next chapter for the business and build on its amazing legacy.”

Attending the 2023 Cannes Yachting Festival , which is scheduled to run from 12-17 September, Princess will be showcasing the Y95 and Y80 along with some of its most popular models. A dedicated team will also be on hand to conduct tours and provide priceless advice and insight into not only yacht ownership but experiencing Princess yacht charters too.

If you're planning a France yacht charter , the Cannes Yachting Festival is one of the biggest yacht shows in the Mediterranean and is definitely worth a visit to gain inspiration for next year's adventure. 

To find out more about booking a Princess yacht charter, and combining the Cannes Yachting Festival into an existing South of France yacht charter , contact your preferred yacht charter broker today for more details. 

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Interview with Antony Sheriff

• By Princess Yachts
• January 10, 2023

Antony Sheriff, 59, has been the Chairman and CEO of Princess Yachts since January 2016. He previously spent 10 years as Managing Director of McLaren Automotive, during which he established McLaren’s core range of luxury sports cars.

Why did you want to take the role as head of Princess Yachts?

After a decade launching and growing the road-car arm for McLaren, I was looking to join another business where luxury and technicity were key and that had a great deal of potential for development. Princess was it.

But why Princess? What makes it different from other luxury yacht manufacturers?

I could see one very important difference – the enormous depth of substance in the company. Princess has a long history of supplying great boats, made by people who go boating, for boaters. What it didn’t have was the confidence to flourish in the way it could, but I think we are now making that happen.

What particular changes have you seen in the company?

The one clear difference is that, while Princess Yachts continues to make technically exceptional products, it is now very firmly established in the luxury arena.

How have the events of the past two years, notably Covid and Brexit, affected the company in terms of what is built, released and marketed?

As far as Brexit is concerned, I would say that it has been a non-event for Princess. Covid, on the other hand, has made life very complicated indeed from an industrial point of view. The principal problems have been in the supply chain, where our suppliers have not been able to deliver components as a result of their own suppliers not being able to deliver materials, and so on. Our approach to the situation from the very start was not to slow down but to continue going hot and heavy both in terms of fulfilling existing orders and developing new models. It required a great deal of fancy footwork, but forging ahead despite the problems enabled us to introduce great new yachts such as the Y72 and Y95 motor yacht, the X80 super-flybridge yacht, and V50 sports yacht, all of which have been really well received. And, strangely, I would say that Covid had some positive effects on our business because it helped many people to discover that a yacht provides an opportunity to spend true quality time on the water with one’s family in a safe and controlled environment.

Sustainability is currently a major issue. How is this reflected in the superyacht business?

I think it’s fair to say that there is an awful lot of noise in the superyacht industry about sustainability, but very little happening that’s of real substance. Our style at Princess is to go our own way and do what we can to help, but only if it means doing things that make rational sense. Comparisons are often made between superyachts and the development of electrification in the car industry, but it is completely unrealistic to think a large yacht can rely purely on electric power – a car only has to be pushed through the air, but water is a whole lot more viscous and, therefore, a great deal more energy is required to achieve the propulsion needed. We did a back-of-an envelope calculation and concluded that if an X95 was to run purely on electric motors it would require a battery pack that weighs twice as much as the boat itself in order to achieve similar range and performance. Instead of going down that route, we have been focusing on our hulls and now have the most advanced designs in the industry. They are up to 20 per cent more efficient, meaning that the yachts consume less fuel and are, therefore, kinder to the environment.

We have also worked very hard on the packaging of our yachts, so the X95, for example, has the same floor area as our old 35-metre, despite being almost eight metres shorter. The smaller size means less resistance and the boat, therefore, delivers a huge improvement in efficiency. The yard is also working on ways of building boats more efficiently, using more bioresins and eco-materials, reducing waste and so on.

What are the rules and regulations surrounding building cleaner boats and creating less pollution?

The rules, such as they are, are very much in flux. We’re pushing the authorities not to mandate specific technical solutions, but rather to set performance goals so as to encourage creative technical solutions. One problem is that, once built, boats tend to stay on the water for a long time. That means there are a lot of old, inefficient yachts out there, so we should be thinking of what we can do to improve them and make them better for the environment. The impact made by new yachts, which are more efficiently built and more eco-friendly in use, is relatively small by comparison. We are, however, working very closely with powertrain suppliers and looking at alternative fuels, most likely hydrogen or biofuels, but they bring their own challenges in terms of infrastructure. Large yachts are intended to explore in out-of-the-way places – most of which won’t be equipped to supply alternative fuels for years to come.

Yachting is reliant on the state of the seas – what is Princess Yachts doing to ensure they are protected?

We’re adding to our efforts all the time. In 2016, Princess became the first luxury yacht manufacturer to officially partner with the Marine Conservation Society. We’ve worked together to support marine environments, preserve reefs and sea life, with the company becoming the custodian of the Eddystone Reef, an offshore ecosystem outside of Plymouth.

What does it mean to be a UK-based business?

I think it is important that we are a UK company, but what is even more important is where we are based – which is why our logo says ‘Princess Yachts, crafted in Plymouth’. This city has a huge maritime heritage both in terms of the place and its people, and I really believe that lends an added authenticity and credibility to what we do. Princess has been here since its founding in 1965 and all of our manufacturing happens in Plymouth, where we employ more than 3,000 staff across our five sites. We also try to source as much material as possible from local businesses, and items we can’t find locally are largely acquired from other UK suppliers. Our supply chain helps to support around 13,500 additional jobs up and down the country.

What can we expect to see from Princess in the next few years?

Wonderful things! We are certainly not content to sit on our laurels, and one of the things I like to do is to show people images of our previous generations of boats beside our new ones. From one year to another the improvements seem incremental, but when looked at across a five-year time span, it’s easy to see that huge leaps are being taken. We were understandably uncertain how the X-Class super flybridge yachts would be received, but they have proved to be an enormous commercial success – and, most importantly, they have been accepted as being ‘real’ Princess Yachts, even by our most loyal customers. Currently overall production is running in the low 200s of boats per year. Our plan is to get to an optimum output of around 300 yachts – and we’ll have many exciting new designs along the way.

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Princess appoints Will Green as CEO

• August 29, 2023

Having spent two decades with the Plymouth shipyard, Will Green has succeeded Antony Sheriff, who joined as CEO since January 2016.

Will Green, CEO, Princess Yachts

Princess Yachts has announced the appointment of Will Green as CEO, with the Brit succeeding Antony Sheriff, who began his role in January 2016.

Green has been a key member of the Princess team for 20 years and most recently served as Executive Director, Commercial. The shipyard described Green as “instrumental in driving the sustained period of commercial success enjoyed by the business in recent years” and “critical to establishing the company as one of the leading luxury yachts manufacturers in the world today”.

Green said: ‘It is an honour to be appointed CEO of Princess. Those who know me will recognise the passion I have for the brand, so this is an exciting opportunity to shape the next chapter for the business and build on its amazing legacy.

“I’m excited and privileged to work alongside a very talented team, which has achieved a long track record of success. With the support of our controlling shareholder KPS Capital Partners, I know we can build on this further with investment in some key areas and by focusing on what we do best – building exceptional yachts for our customers.”

Princess will be staging the world premieres of the Y80 and Y95 at this year’s Cannes Yachting Festival , and announcing two upcoming models.

www.princessyachts.com

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Princess Yachts CEO Antony Sheriff on a new generation of yachting

The Princess Yachts’ X95 flybridge

Antony Sheriff has transformed the fortunes of Bernard Arnault’s yachtmaker Princess, creating boats that are stylish, in demand and environmentally innovative, for a new generation of consumer. LUX gets his story

Antony Sheriff

“It’s the sports car of the range. The hull reduces drag by 30 per cent, and it has sports-car-like performance and a Pininfarina design.” Princess Yachts CEO Antony Sheriff is enthusing over a projection of the R35, his company’s cool-looking 35-foot yacht, the latest in a series of innovations he has overseen in what is fast becoming known as the most dynamic yachtmaker in the world.

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“Sometimes,” he says, “if you are doing something new and are innovating, customers don’t know what they want until you give it to them.” Sheriff has been responsible for a number of innovations at the company, which is owned by LVMH-owner Bernard Arnault through his private equity company L Catterton, both on the product side and on partnerships.

The stateroom (above) and exterior of X95 yacht

In 2016 he launched a collaboration with the Marine Conservation Society, aimed at helping clean up ocean plastics, conserve coral and aid the conservation of marine creatures such as turtles. The Italian-American, who in his previous job launched McLaren’s hybrid P1 hypercar as CEO of the company’s road-car division, is disarmingly straight talking. “We are an industry which makes beautiful products, but we haven’t always been that mindful of the effects they have. We wanted to do something quietly to reduce the impact of yachts on the sea.”

He says the impetus has not – yet – come from the market, but from his own initiative. “We are trying to do the right thing and would rather be on the front foot than the back foot. People enjoy yachting because of the beautiful environment, and we need to try and maintain the water in the state we found it in.”

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Sheriff says that, as with cars, the need to innovate for environmental reasons has actually ended up bringing better products to market. He points to the example of the X95, which has up to 40 per cent more space than its predecessor while using 30 per cent less fuel and matching it in performance; and the Y95, another super-slick collaboration with Italian design house Pininfarina , which seems to have taken up its unparalleled design of luxury modes of transport where it left off with Ferrari after the end of a collaboration there spanning decades.

The R35 performance sports yacht

Sheriff is a little scathing about some of the bloated products on offer from other yachtmakers, and adds: “We are putting the elegance and refinement back in yacht design, creating yachts that look like they belong on the ocean.”

Ultimately, though, he says the biggest change during his tenure since 2016 has been the change in the nature of the consumer. “Increasingly people are buying yachts not as status symbols but as places to spend a wonderful time with family and friends. You go on a family vacation in a yacht and it’s the best vacation possible: the kids stay together with you for fantastic family time, they can’t run away to the nightclub, and you get to spend time with each other in private in a beautiful place.” And, if some of the latest Pininfarina designs continue in the same vein, on a beautiful place, too.

Find out more: princessyachts.com

This article was originally published in the Summer 2020 Issue .

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David King to step down as Chairman of Princess Yachts

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Written by Zuzana Bednarova

Having been one of the original founders of the leading UK luxury yacht shipyard Princess Yachts in 1965, David King is to stand down as Chairman at the end of August. Citing his wish for new minds to lead the company forward, Mr King will remain a director and concentrate mainly on new yacht design as well as development, an area in which he has always been actively involved.

After a period of consultation, the Princess board of Directors has appointed Philippe Mellier as its new Chairman.

Mr  Mellier is the CEO of The De Beers Group, the world’s leading diamond company, and was previously the Executive Vice President at Alstom s.a., the world’s leading high-speed train producer. Prior to this, Mr Mellier worked in the automotive sector, holding senior and board-level positions within Ford, Renault and the Volvo Group. He brings to the role uniquely useful experience in high-quality, performance-focused product manufacturing, marketing and sales.

A French national, domiciled in the UK, Mr Mellier will continue as CEO of The De Beers Group and serve in a non-executive capacity at Princess.

Princess Yachts’ Managing Director, Chris Gates, said, “David King is and always will be a part of Princess. He has been a magnificent servant to this Company and the wider British boatbuilding industry. This change of roles will allow us to strengthen and grow the business while still benefiting from David’s unmatched experience and skill in designing the best motor yachts in the world. We look forward to welcoming Philippe into the Princess family and benefitting from the vast experience he brings from the luxury goods and high-performance manufacturing sectors.”

In a statement to the Princess workforce and wider family, David King said, “It has been an incredible journey since 1965. I could not have conceived of the growth and success we have achieved over the years, success that is entirely due to the wonderful people that work here and our Distributors around the world.”

“From our humble beginnings we have become a world-leading company respected across the international boatbuilding sector and one that enjoys secure ownership and management.”

“It has been my privilege and pleasure to work alongside you all and I look forward to working with you still, in my role focusing on product development.”

Please contact CharterWorld - the luxury yacht charter specialist - for more on superyacht news item "David King to step down as Chairman of Princess Yachts".

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Princess Yachts Appoints Will Green as CEO

Having spent two decades with the Plymouth shipyard, Will Green succeeds Antony Sheriff who steps down after an eight year tenure.

Princess Yachts has announced the appointment of Will Green as CEO. Green has been a key member of the Princess team for 20 years and most recently served as Executive Director (Commercial). The shipyard described Green as “instrumental in driving the sustained period of commercial success enjoyed by the business in recent years” and “critical to establishing the company as one of the leading luxury yachts manufacturers in the world today”.

“It is an honour to be appointed CEO of Princess,” Green professes. “Those who know me will recognise the passion I have for the brand, so this is an exciting opportunity to shape the next chapter for the business and build on its amazing legacy.

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“I’m excited and privileged to work alongside a very talented team, which has achieved a long track record of success. With the support of our controlling shareholder KPS Capital Partners, I know we can build on this further with investment in some key areas and by focusing on what we do best – building exceptional yachts for our customers.”

Princess will be staging the  world premieres of the   Y80 and Y95 at this year’s Cannes Yachting Festival along with the announcement of two upcoming models. For more information on Princess Yachts, click here .

This article was first published on www.yachtstyle.co

For more stories on leaders in the yachting industry and beyond, click here .

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Will Green appointed as CEO of Princess Yachts

Published on: 30 August 2023

Princess Yachts is delighted to announce the appointment of Will Green as Chief Executive Officer.

Green has been a pivotal member of the Princess Yachts team for 20 years, and most recently served as Executive Director, Commercial. He has been instrumental in driving the sustained period of commercial success enjoyed by the business in recent years and has been critical to establishing the Company as one of the leading luxury yachts manufacturers in the world today.

On his appointment Green commented: “It is an honour to be appointed CEO of Princess. Those who know me will recognise the passion I have for the brand, so this is an exciting opportunity to shape the next chapter for the business and build on its amazing legacy. I am excited and privileged to work alongside a very talented team which has achieved a long track record of success and, with the support of our controlling shareholder KPS Capital Partners, I know we can build on this further with investment in some key areas and by focusing on what we do best – building exceptional yachts for our customers.’

Antony Sheriff is leaving the business to pursue other endeavours. We thank him for his contributions and wish him well. Princess will be showcasing two World Premieres at this year’s Cannes Yachting Festival with the new Y95 and Y80 being shown for the first time. 

It will also be announcing two new future models as part of its continued investment in new and innovative product offerings.

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Princess Yachts appoints new CEO

Friday, August 25th, 2023

Written by: Marine Industry News

Princess Yachts has announced the appointment of Will Green as its new chief executive officer (CEO).

Green has been a member of the team at Princess Yachts for 20 years, most recently serving as executive director, commercial. The company says he’s been instrumental in driving the sustained period of commercial success enjoyed by the business in recent years and has been critical to establishing the Princess Yachts as one of the ‘leading luxury yachts manufacturers in the world today’.

“It is an honour to be appointed CEO of Princess ,” says Green, “Those who know me will recognise the passion I have for the brand, so this is an exciting opportunity to shape the next chapter for the business and build on its amazing legacy.

“I am excited and privileged to work alongside a very talented team which has achieved a long track record of success and, with the support of our controlling shareholder KPS Capital Partners , I know we can build on this further with investment in some key areas and by focusing on what we do best – building exceptional yachts for our customers.”

Green is replacing Antony Sheriff who is leaving the company to pursue other endeavours.

Image courtesy of Princess Yachts Ltd.

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Princess Yachts CEO Steps Down

BY APB STAFF on 1 Sep 2023

Incoming CEO Will Green has been a member of the team at Princess Yachts for 20 years

Princess Yachts has appointed Will Green as its new chief executive officer, as former CEO Antony Sheriff leaves the company to pursue other endeavours.

Green has been a member of the team at Princess Yachts for 20 years, most recently serving as executive director of commercial.

In a statement, the British luxury boatbuilder says Green has been instrumental in driving the sustained period of commercial success enjoyed by the business in recent years and has been critical to establishing the Princess Yachts as one of the ‘leading luxury yachts manufacturers in the world today’.

“It is an honour to be appointed CEO of Princess,” says Green. “Those who know me will recognise the passion I have for the brand, so this is an exciting opportunity to shape the next chapter for the business and build on its amazing legacy.

“I am excited and privileged to work alongside a very talented team that has achieved a long track record of success and, with the support of our controlling shareholder KPS Capital Partners, I know we can build on this further with investment in some key areas and by focusing on what we do best – building exceptional yachts for our customers.”

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CEO Series: Will Green on the future of Princess Yachts

Following his appointment earlier this year, Gabrielle Lazaridis catches up with the CEO of Princess Yachts , Will Green, during the Cannes Yachting Festival to learn how the British yard plans to move forward from one of its most successful boat show seasons yet...

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Will Green appointed as CEO of Princess Yachts

Published on: 30 August 2023

Princess Yachts is delighted to announce the appointment of Will Green as Chief Executive Officer.

Green has been a pivotal member of the Princess Yachts team for 20 years, and most recently served as Executive Director, Commercial. He has been instrumental in driving the sustained period of commercial success enjoyed by the business in recent years and has been critical to establishing the Company as one of the leading luxury yachts manufacturers in the world today.

On his appointment Green commented: “It is an honour to be appointed CEO of Princess. Those who know me will recognise the passion I have for the brand, so this is an exciting opportunity to shape the next chapter for the business and build on its amazing legacy. I am excited and privileged to work alongside a very talented team which has achieved a long track record of success and, with the support of our controlling shareholder KPS Capital Partners, I know we can build on this further with investment in some key areas and by focusing on what we do best – building exceptional yachts for our customers.’

Antony Sheriff is leaving the business to pursue other endeavours. We thank him for his contributions and wish him well. Princess will be showcasing two World Premieres at this year’s Cannes Yachting Festival with the new Y95 and Y80 being shown for the first time. 

It will also be announcing two new future models as part of its continued investment in new and innovative product offerings.

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By SuperyachtNews 30 Oct 2023

Princess Yachts reports “disappointing” results

Despite losses incurred due to supply chain issues, the british boatbuilder is optimistic for the 2023 financial year….

Princess Yachts has recorded millions in losses in its recently released results for the fiscal year ending on December 31st, 2022. Despite this, the British shipbuilder is optimistic about its business prospects in 2023, having navigated significant disruptions to its operations and securing investment.

Princess Yachts reported a slight increase in its annual turnover, climbing from £308m in 2021 to £315m in 2022. However, a surge in operating costs during this period led to Princess Yachts experiencing an EBITDA decline, moving from a loss of £200,000 in 2021 to a loss of £25.7m by the end of 2022.

This was mainly due to supply chain challenges, with some partially built boats having to be temporarily taken out of construction. This resulted in increased financial working capital requirements and delays in project completion, all while incurring substantial retrofitting costs.

The most affected components included large items such as engines, generators, electrical panels, and air conditioning equipment, which often arrived months behind schedule.

The financial impact of this has been somewhat mitigated as the company secured additional capital to enhance its production efficiency and expand its capacity. Following its acquisition by KPS Partners earlier this year, there has been a cash injection of £53.7m into the group to support working capital and future growth.

“Looking forward with the transfer of ownership to KPS Capital Partners in March 2023, the Board of Directors look to embrace their manufacturing and transformation expertise along with financial support, to evaluate short-term and strategic opportunities for the company within the marine sector,” says company CEO, Will Green.

Princess Yachts also announced plans to invest £35m in new product development and £5m in expanding its primary South Yard Facility in Plymouth.

In terms of the shipyard’s outlook for the future, Princess Yachts has invested £14.7m in product development and introduced three new models, including the Princess Y95 (pictured). The shipyard further unveiled plans to introduce three new models in 2023, with three more slated for 2024.

These new models have translated into prospective commercial success, resulting in an order book of over £750m as of July 2023, with deliveries scheduled up to 2025. Alongside its expanding capacity, Princess Yachts anticipates that these developments will be the driving factors behind to its long-term growth strategy.

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