Published: Wednesday, 20 August 2014

David King will stand down as Chairman of Princess Yachts at the end of August. King was one of the original founders of Princess Yachts in 1965 and has made known his wish for new minds to lead the company forward. He will remain a director and focus mainly on new yacht design and development, an area in which he has always been heavily involved.

The Princess Board of Directors has appointed Philippe Mellier as its new Chairman. Mellier is CEO of The De Beers Group, the world’s leading diamond company. Previously, he was Executive Vice President at Alstom, global leaders in high-speed train production. Prior to this Mellier worked in the automotive sector, holding senior and board-level positions with Ford, Renault and the Volvo Group.

He brings to the role useful experience in high-quality, performance-focused product manufacturing, marketing and sales. A French national, domiciled in the UK, Mellier will continue as CEO of The De Beers Group and serve in a non-executive capacity at Princess.

“David King is and always will be a part of Princess,” says Princess Yachts’ Managing Director Chris Gates. “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.”

Princess Yachts Chairman David King Stepping Down

(photo: David King)

From our humble beginnings we have become a world-leading company respected across the international boatbuilding sector and one that enjoys secure ownership and management,” says King. “It has been my privilege and pleasure to work alongside you all and I look forward to working with you still, in my role focusing on product development.”