David King, founder of British shipyard Princess Yachts, has died at the age of 84 following a period of illness.
King founded the Plymouth-based yard in 1965 – then called Marine Projects – and dedicated over six decades to building the company into the respected brand it is today. Despite stepping back from the day-to-day leadership of the business, the yard noted in a statement that the founder remained actively involved until "very recently", spending time with the yard's development teams and supporting the future of Princess' product offerings.
Born in Dundee in 1942, King developed his technical knowledge while studying engineering at the Royal Naval College in Dartmouth, which he completed alongside serving in the Royal Navy.
He founded the now-Princess Yachts brand alongside two friends and undertook the build of its first boat, Project 31, that same year. The boat was sold for £3,400 and cost £3,460 to build. However, despite the £60 loss, the founders had already sold two further boats and thus had officially become boat builders. According to the shipyard, the story of its founding was one of King's favourite reminders that every successful business begins with lessons learned and that the willingness to keep improving matters more than getting it right first time.
In the yard's early years, Britain's specialist marine supply chain was in its infancy, so the skills and capabilities needed to build yachts had to be curated from within. Subsequently, King began investing in people, craftsmanship and engineering expertise in-house, defining the brand as "one of the most vertically integrated yacht builders in the world". Alongside this, he remained unwavering in his commitment to Plymouth as the home of Princess; rather than relocating production overseas as many British manufacturers were doing, he continued to invest in the city and the surrounding region, creating jobs and apprenticeships and supporting a network of suppliers in the South West.
King also played a major role in redefining Britain's place in the international yacht market - namely in 1982 with the launch of the first Princess 45, then the largest production motor yacht built in the UK. Its success demonstrated the country's standards in the global market, opening new export opportunities as well as establishing Princess as an international brand.
King's passion for people went far beyond Princess, from arranging for the shipyard's craftspeople to help Sri Lankan communities rebuild their fishing boats following the Indian Ocean tsunami in 2004 to supporting local charities such as St Luke's Hospice. "He believed that if he had the means to help, then he should," the yard said in a statement. "His kindness was practical, personal and almost always unseen."
Princess remembers the founder for his enduring devotion to the shipyard, its designers, engineers, craftspeople, apprentices and colleagues. His legacy will remain not only in the thousands of Princess yachts but in the countless lives he quietly influenced.
"For many people, it is difficult to think of Princess without thinking of David," said Princess Yachts CEO Will Green. "That says everything about the contribution he made over more than six decades, but it only tells part of the story. Characteristically, David never took credit for what Princess has become. He was always the first to recognise the contribution of others, and that humility earned him enormous respect throughout our industry."
Green continued: "I'm sure the tributes for David will be about the company he founded or the yachts he created, and rightly so. Those achievements speak for themselves. What I'll remember most, however, is the time he gave so generously to others. I was fortunate to know David not only as our founder, but also as a mentor. Particularly as I took on the role of CEO, his guidance, encouragement and quiet support meant a great deal to me and are something I will always be grateful for.
"David always looked to the future. So, I believe the greatest tribute we can pay him is to continue the work he cared so deeply about by building exceptional yachts with the same curiosity, humility and attention to detail that defined his life, ensuring the company he loved continues to flourish for generations to come."