Chris Gates will transition to a role as special advisor to the executive chairman

Chris Gates, managing director of the UK’s Princess Yachts, has stepped down from his role after more than 30 years at the helm. Gates will transition to a role as special advisor to executive chairman Antony Sheriff.

“Chris’s contribution to our company’s success is immeasurable and it is fitting that Chris’s last year as MD has been the most successful in our company’s history,” says Sheriff. “We are grateful to retain Chris’s enormous experience within Princess in his new role.”

Meanwhile, Matt Pears has joined the executive team and board as chief operating officer and has been appointed to oversee the firm’s manufacturing, supply chain and quality operations.

Antony Sheriff, together with the Princess Yachts executive team, continues to lead the company as executive chairman and CEO, steering 3,200 employees to continue its investment in product development, quality and manufacturing efficiency to deliver luxury yachts to universal acclaim.

Following its recent successes of amplified brand recognition, as well as historically high turnover and profit results (the company nearly trebled its operating profits in 2018), Princess will be launching several new models over the coming months, including the X95 flagship X Class Yacht and the V55 V Class sports yacht.