The two private- and alternative-credit managers controlling Sunseeker since late last year have finalized acquisition of the yacht builder. With this, they have appointed several key executives, including Scott Millar as the new CEO.
The two companies, namely Cross Ocean Partners and Cheyne Capital, became investors in November 2025. Initially, they provided funds as part of a restructuring plan under a receiver. However, when a buyout via a partnership between KCP and Lionheart Capital stalled in April, the two firms announced they would pursue full ownership.
Notably, Millar (above) already has ties to Sunseeker, too, through the same receiver, Teneo. He became the interim CEO in December 2025, following the departure of longtime shipyard head Andrea Frabetti. He remained in place until April, when Cross Ocean Partners and Cheyne Capital tapped Steve Timms. According to Timms, Millar was the ideal choice. “He and his team at Teneo were responsible for creating the five-year strategic plan that has been guiding our business,” Timms notes. “He already understands our people, our products, and our ambitions.” Timms further explains, “We wanted it to be someone who truly cares about this brand.”
Millar, who has nearly three decades’ experience in business and operational transformation, along with C-suite roles, says Sunseeker’s history and business plan both appeal to him. “We have a clear vision, ambitious plans for growth, and the full support of our shareholders to invest in the brand, our people, and our products,” he says.
Several further new executive positions complement Millar’s CEO role, with professionals who have deep experience across multiple sectors. Specifically, they have worked with automotive brands, manufacturing firms, and premium-consumer brands. Among the new appointees, Andy Gawthorpe (left) is chief commercial officer. Previously, he held senior-level commercial positions with Aston Martin and Triumph Motorcycles. Another new appointee is Ian Morgan as chief strategy officer. Already having a hand in developing Sunseeker’s renewed superyacht strategy, Morgan additionally has nearly 20 years’ experience in the automotive and consumer sectors. Finally, Adrian Mardell is joining Sunseeker as non-executive chairman. Mardell is most known for spending 35 years with Jaguar Land Rover, three as CEO. He inherited the reigns during a slump for the famed automotive brand, leading strong regrowth and improving customers’ and employees’ experiences.
The upcoming Cannes Yachting Festival will be the first public reveal of new yacht concepts and an overall corporate rebrand.
Sunseeker sunseeker.com
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