Sunseeker International has denied reports its chief executive officer has left the company.
In a letter to suppliers, Steve Timms, chief operating officer, said business is continuing as usual under the management of the luxury boatbuilder’s senior leadership team while the CEO, Andrea Frabetti is on a pre-arranged period of leave.
The letter states:
“We are aware of recent media reports concerning Andrea Frabetti, our CEO.
“While we do not comment on media speculation, we want to provide clarity to our partners.
Pre-arranged leave
“Andrea Frabetti remains the CEO of Sunseeker International Ltd. He is currently on a pre-arranged period of leave.
“Whilst Andrea is on leave the business continues to operate as usual under the management of the senior leadership team.
“We remain focused on fulfilling our global order book and look forward to continuing to work with you on moving forward.
“Our investors remain confident in Sunseeker International and as you may know we recently secured fresh capital from Cheyne Capital and Cross Ocean Partners, providing the platform for our long-term future success.
Business strategy
“Together, we continue to execute our business strategy and invest in new product development including the Superyacht strategy.”
And the chief operating officer said further updates will be shared as soon as it is appropriate to do so.
He concluded his statement by saying that if suppliers have any questions, they should contact the Sunseeker team.
Earlier in November, Sunseeker appointed two new directors to the business, Mark Chinery and Mario Gornati.
Nicholas Pike, who heads Pike Restructuring Limited, a management consultancy providing director services to companies facing multiple challenges in the UK and worldwide, was also appointed as director of Sunseeker Investments.
In June 2025, Sunseeker outlined a proposed reorganisational restructure, which included a consultation process affecting up to 200 roles – around 10% of the company’s workforce.
