Kevin Gaskell (CEO) leaves Fairline

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Given Better Capital have just bought out RBS I would doubt it is a sinking ship. Making money and making boats don't really go hand in hand but they seem to be shifting significant volumes of boats.

I never met Gaskell. I knew Derek Carter very well as he was far more the public face of the business.

We will never know I suspect, but it would be interesting to know what they fell out over. You don't fire the CEO for fun, so it will have been a huge disagreement as to direction - which if nothing else suggests that there will be some significant changes at Fairline in the medium term.

Their weakness against Princess and Sunseeker seems two fold - 1. access to sheer cash - the Chinese and LV have deep pockets and boat manufacture is an expensive game 2. the boats above 78 feet where Prin and Sun are now significant players. The product line they currently have is excellent and of high quality and competes / wins against the competition.

However re 2 if I was running the business building bigger boats would be far from a no brainer decision. Big R and D, entering a market with some very credible players, need to set up new factories on the coast and so on.

Who knows ! Bring back Derek Carter!
 
JR, you have hit the nail on the head. Fairlines major problem is location, moving boats larger than 24m to the coast, therefore for them to develop further, they need new premises, where they can build larger boats, and drop them straight into the water. Their current cash cow is the Sq 78, but it is aging, despite JFM's best efforts to inject innovation into the product. It is still a great boat, but for how long? Clearly the recent investment in manufacturing at Corby, and the new family of 50 footers is great, but the real margin is in the larger boats, as Princess and SS are showing.
 
jrudge said:
You don't fire the CEO for fun, so it will have been a huge disagreement as to direction - which if nothing else suggests that there will be some significant changes at Fairline in the medium term.
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I dunno, "difference of opinion" is the catch all term used when neither side wants to disclose the true reason. It could have been a difference of opinion as to whether it's OK to send naked pictures of yourself to the Chairman's wife, or book your Caribbean holiday on expenses :D
 
rafiki_ said:
JR, you have hit the nail on the head. Fairlines major problem is location, moving boats larger than 24m to the coast, therefore for them to develop further, they need new premises, where they can build larger boats, and drop them straight into the water. Their current cash cow is the Sq 78, but it is aging, despite JFM's best efforts to inject innovation into the product. It is still a great boat, but for how long? Clearly the recent investment in manufacturing at Corby, and the new family of 50 footers is great, but the real margin is in the larger boats, as Princess and SS are showing.
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Location is not an advantage we can all agree, but I suppose it depends if you want to complete in the > 80 foot odd market with all the R and D that involves and significant competition from established players - not just Sunseeker and Princess.

Not sure the 78 is the cash cow - they are selling more 65s right now!
 
Nick_H said:
I dunno, "difference of opinion" is the catch all term used when neither side wants to disclose the true reason. It could have been a difference of opinion as to whether it's OK to send naked pictures of yourself to the Chairman's wife, or book your Caribbean holiday on expenses :D
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And what is wrong with sending pics of yourself - MPs do it all the time!
 
I heard it was 6 sold too, not a good result for them. There are some pretty major discounts being thrown around there too.

Its strangely reminiscent of another UK manufacturer who didn't fare so well in the recent past................
 
jrudge said:
The product line they currently have is excellent and of high quality and competes / wins against the competition.
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I don't agree with you in the Sub 50 foot market. I think Princess have better products below 50ft and Sunseeker have some better products below 50ft, but I would not say that Fairline have the upper hand of SSKR at this end, perhaps on price alone.
 
Looks like they've got a caretaker CEO in:

Update: Fairline has confirmed that Kevin Gaskell will be replaced by financial controller Colin Sykes, who will serve as Acting CEO.

In a statement, chairman Nick Sanders said: "I am sure that you will join me in wishing Colin every success in this role as we continue the task of rebuilding the Fairline brand."
 
Boats like JFM's SQ 78 have to be one of the classics of all time in the sub 24m market, not a huge boat, not a race horse but aesthetically right on the money, superb quality and detail and a great hull that really does mix it with the very best. Hence they sell very well on the SH market and good $ numbers. The boat exudes a certain "character" , it feels a bit special, its just got that something many others don't have. That's a brand, that's what succeeds in the long run.
 
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Fairline don't half say some funny things. Last month they "thanked their supply chain for its support". For what, not paying their bills?

Now they're "rebuilding the Fairline brand". I didn't know it needed rebuilding.

Hardly messages to encourage punters to but their products. If they only sold 6 boats at SBS (after a fabulous summer), it doesn't look good for London (if they bother going).

Hope they're doing better with overseas sales and have a better 2015.
 
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Having bought a fairline for the first time a year ago I felt I was buying a premium brand and like the above comments I was not aware that the brand needed rebuilding. I have a 2007 targa 47 and for the first time I have returned from the boat show very happy with my lot, as the newer boats of similar size do not have the quality feel as ours. Yes there is more space per foot length but I would bet my house I would arrive first in a head sea, and as a British boater across the channel twice a year and lime bay etc this is v important,I would again for first time say that if I was to upgrade to a 52-56 ft which by the time I do, the current new boats will be in the second hand market, I would chose princess. I think the choice of interior design and materials is not quite right imho with fairline, for the first time at sbs there appeared to be no difference than last year.
 
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