Andrea Frabetti leaves Sunseeker

While the formal search for a new head is in progress, Scott Millar of Teneo Financial Advisory will act as Interim CEO 

Andrea Frabetti started working Sunseeker in 2018 first as Chief Technical Officer, and later, in July 2019, he became CEO.  

By overseeing production processes and driving strategic investment in research and development during, Frabetti contributed considerably to the introduction of new models across the entire range. His resignation as CEO and board member was reported by mutual agreement. 

“It has been an honour to lead at Sunseeker International during what has been a pivotal time for the business and the wider sector,” said Andrea Frabetti. “Following the recent new financing to strengthen Sunseeker’s financial position and support ongoing operations, now is the right time for me to step down. I leave the business in safe hands and look forward to seeing its continued success.” 

By the new financial strength Frabetti means the investment from its lenders, Cheyne Capital and Cross Ocean Partners, which is believed to provide a stable platform for the yard’s long-term strength. 

The shipyard promises to stay focused on delivering its global order book and ongoing new product development initiatives, including the superyacht strategy. 

Scott Millar, who will be working as Sunseeker Interim CEO, comes from Teneo Financial Advisory that specialises in guiding companies through financial distress, transformation, capital advisory (M&A) and insolvency. He has got over 27 years of experience working with luxury brands in Europe, the US and the UK, including the automotive and yacht sectors. At present he works as Senior Managing Director and Head of the Global Corporate for Teneo Financial Advisory. 

“I would like to thank Andrea for his commitment and dedication to Sunseeker and his personal support to me in taking on interim leadership of the business,” said Scott Millar. “Sunseeker maintains a strong position in its market thanks to an outstanding team of people and a supply chain focused on building and delivering world class yachts for our customers. It is a privilege to lead the business whilst a permanent CEO is found.”