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Italian manager Andrea Frabetti, at the helm of Sunseeker International since June 2019, is preparing to step down as CEO of the prestigious British shipyard . The news, initially circulated in the international press, generated some confusion before the British shipyard issued an official clarifying note.
According to Sunseeker, Frabetti is currently on a scheduled leave of absence. During his absence, the company continues to operate regularly under the management of the Senior Leadership Team.
A spokesperson for the site pointed out, “Andrea Frabetti remains CEO of Sunseeker International Ltd. He is currently on a pre-arranged leave of absence.” . However, industry sources confirm that Frabetti will leave the company permanently and that a search for a successor is already underway. The manager has personally confirmed his intention to leave the role.
Frabetti had joined Sunseeker in early 2019 as Chief Technical Officer, only to be promoted after just five months, in June 2019, to the role of CEO. In this capacity, he led the shipyard through a significant relaunch phase: revamping the product range, developing in-house engineering, and strengthening the brand strategy toward high-end segments.
The choice of Frabetti was no accident. A naval engineer since 1990 with in-depth knowledge of powerboats, he had spent 25 years with the Ferretti Group as Vice President Research & Development, where he developed the strategy to relaunch the prestigious Riva brand. He had signed dozens of innovative patents: the first opening hard top, the first hybrid boat, the tailgate that goes underwater. He was a manager accustomed to directing dozens of engineers, designers and workers, with a proven ability to innovate without disrupting brand identity-a crucial balance in the luxury sector. He had also served as CEO of Diesel Center SPA from 2015 to 2018.
Upon Frabetti’s arrival, Sunseeker had a turnover of 299.8 million pounds (350 million euros), but it still remained far behind big Italian competitors Azimut/Benetti and Ferretti Group. Wang Jianlin was banking on Frabetti to bring Sunseeker to the podium of the global top 3. Frabetti’s strategy aimed to revive the fast open performance cruisers that had made Sunseeker famous, as well as to conquer the superyacht segment-the most profitable.
The shipyard, which employs 2,600 people and is headquartered in Poole in southern England (alongside prestigious brands such as Lotus, Aston Martin, McLaren and Bentley), represented the largest British shipyard with a size range unmatched in the market. Frabetti, aware that Sunseeker possessed a very strong identity recognized by customers-what he called the “Sunseeker community”-was prepared to lead the company without upsetting its most valuable asset: British style.
The six years of Frabetti management have seen Sunseeker face significant challenges. In 2024, the shipyard had been acquired by Italian fund Faro Alternative Investments in partnership with American Lionheart Capital, taking over the shares from Wang Jianlin’s Chinese Dalian Wanda Group. Frabetti had been confirmed at the top, along with Giancarlo Galeone as chairman.
However, 2025 has proven particularly difficult. In June, Sunseeker announced a corporate restructuring by cutting about 200 jobs, or 10 percent of the workforce, justifying the decision by weakening global demand due to political and economic uncertainties. Frabetti had specifically cited the consequences of trade tariffs imposed by the Trump administration.
In November 2025, the shipyard secured a new capital investment from lenders Cheyne Capital and Cross Ocean Partners, which together manage more than $20 billion in assets. In parallel, Matt Mawhinney and David Soden of Teneo Financial Advisory Limited were appointed as receivers on the shares of Sunseeker Investments Limited, the indirect parent company. The site clarified that these changes affect only the holding company and do not affect day-to-day operations.
Despite the difficulties, during the Fort Lauderdale International Boat Show 2025, Frabetti had announced two strategic appointments at the top: Mark Chinery as Director of Sales, following the retirement of veteran Sean Robertson (40 years at Sunseeker), and Mario Gornati as Executive Director of Marketing and Communications.
Gornati, a manager with more than 20 years of experience in the nautical and luxury industry, comes from leading roles: he was chief marketing officer of Azimut Benetti Group and marketing director of Sanlorenzo, contributing to the growth of the brand until it was listed on the Italian Stock Exchange.
Despite the turmoil, Sunseeker maintains an order book worth about 540 million pounds (640 million euros) and continues to invest in new product development, including its superyacht strategy.
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