Princess Yacht founder to step down

David King steps down
David King steps down

Having been one of the original founders of Princess Yachts in 1965, David King has decided to stand down as Chairman. Citing his wish for new minds to lead the company forward, Mr King will remain a director and focus mainly on new yacht design and development, an area in which he has always been heavily 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.

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.”

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