More Sunseeker News ....

Could be for any of a number of reasons...

1) Didn't get on with other Directors
2) Finding the additional duties too mucg together with his daytime job of chief of design and development
3) He was 'pushed' off by ANO
4) He made a monumental cock up
5) None of the above

Take your pick... :D
 
Interesting that he's kept the same job, but resigned as a director. That suggests there's something in the legal obligations/liabilities of being a director that he doesn't like.
 
Nick_H said:
Interesting that he's kept the same job, but resigned as a director. That suggests there's something in the legal obligations/liabilities of being a director that he doesn't like.
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Maybe, or with his Brother being a large Shareholder he may have had a right to appoint a Director. In this case his brother. However if there is a reduction in shareholding he may not be entitled to a Director. Could therefore be as simple as a resignation prior to shareholding reduction (Debt for equity?).

Just conjecture

Paul
 
The way the company treated a good friend of mine recently im not surprised there are all these changes and goings on behind closed doors, and he wasnt buying a 20 year old boat either!, hes not looked at another sunseeker since after his experience with the sales staff.
 
Lets rememebr

volvopaul said:
The way the company treated a good friend of mine recently im not surprised there are all these changes and goings on behind closed doors, and he wasnt buying a 20 year old boat either!, hes not looked at another sunseeker since after his experience with the sales staff.
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The sales staff and Sunseeker International are very different unless its Superyacht stuff.
 
River Boater said:
Hi All,

The Sunseeker news continues:

http://www.ibinews.com/ibinews/newsdesk/20100202160702ibinews.html

After the last exciting debate I thought I would bring this to everyone’s attention (see if it gets as many views .....:D)
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It's no secret that Sunseeker have gone through difficult times recently as have most other boatbuilders. Braithwaite has run the company for years and he probably thinks it is time for a change of management to drive the company forward. It's quite common for company founders to step down during hard times as they often find it difficult to make necessary changes in an organisation with which they've been intimately involved for years. I'm not sure you can read that much into this other than there will be restructuring within Sunseeker in the future but thats going to be true of a lot of companies at the moment
 
Deleted User said:
It's no secret that Sunseeker have gone through difficult times recently as have most other boatbuilders. Braithwaite has run the company for years and he probably thinks it is time for a change of management to drive the company forward. It's quite common for company founders to step down during hard times as they often find it difficult to make necessary changes in an organisation with which they've been intimately involved for years. I'm not sure you can read that much into this other than there will be restructuring within Sunseeker in the future but thats going to be true of a lot of companies at the moment
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Blimey Deleted User. I'm surprised to read that from you. C'mon, you aren't suggesting these things are voluntary, at the behest of RB, are you? Of course they're not.
 
jfm said:
Blimey Deleted User. I'm surprised to read that from you. C'mon, you aren't suggesting these things are voluntary, at the behest of RB, are you? Of course they're not.
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I'm sure you know more of the detail then I do but it's certainly possible. Anyway these things are never clear cut. I'm sure there was a large element of him being pushed but, at the same time, it's quite possible that he'd been thinking of stepping down for a while and the recession was just the catalyst that made him think it was the right time to go. Running a company during the good times is a piece of cake but doing it during bad times is mentally debilitating and it can be very hard to see a company that you've built over many decades get into difficulties. Sacking people you've worked with for years and severing relationships with long term suppliers is never easy. Braithwaite is no spring chicken; I'm sure there's part of him that's glad that some of the pressure is off
 
Nick_H said:
Interesting that he's kept the same job, but resigned as a director. That suggests there's something in the legal obligations/liabilities of being a director that he doesn't like.
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Reminds more of Sealine when they sold it originally. Tom remaind as a technical consultant, Frank for 2 years looking after finance.

It must be 25 years since I first met John, so there must come a time when two people have finish. After all you can only go on for so long at the rate that they did, may be this just retirement.

Brian
 
Deleted User said:
It's no secret that Sunseeker have gone through difficult times recently as have most other boatbuilders. Braithwaite has run the company for years and he probably thinks it is time for a change of management to drive the company forward. It's quite common for company founders to step down during hard times as they often find it difficult to make necessary changes in an organisation with which they've been intimately involved for years. I'm not sure you can read that much into this other than there will be restructuring within Sunseeker in the future but thats going to be true of a lot of companies at the moment
Click to expand...
and its now a different animal too with the sizes (LOA) and cash flow needed to fund the operation too.
 
halcyon said:
Reminds more of Sealine when they sold it originally. Tom remaind as a technical consultant, Frank for 2 years looking after finance.
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The difference here is that he was ony made a director two months ago, when all these changes were announced. That's what made me think it may have been his decision to resign (tried it and didn't like it), rather than being pushed?
 
Nick_H said:
That's what made me think it may have been his decision to resign (tried it and didn't like it), rather than being pushed?
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Interestingly, I followed the same train of thoughts with the opposite conclusion in this case: he didn't like it, hence was pushed out.
Mind, not that I disagree on your general comment re. company founders leaving others in the driver's seat when things get tough.
Been there, done that.
 
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