Gulf Craft chief executive Greg Yeakle has stepped down after just a year in the role.
The superyacht builder said it is formulating a “growth and development plan” following his departure alongside an “ongoing restructuring” of the business.
In the meantime, chairman Mohammed Hussein Al Shaali has been appointed executive chairman by the yard’s board of directors.
Gulf Craft said more announcements will be made in the coming months.
Yeakle joined the UAE-based shipyard in June last year following the departure of previous chief executive Erwin Bamps, who had held the position for four years.
Yeakle had previously held roles include global head of Accudyne Industries’ oil and gas division and managing director of Milton Roy.
In a statement the yard said: “Gulf Craft’s board of directors, with its workforce, passes its appreciation to Gregory Yeakle for the contribution he has put into the shipyard, wishing him the very best in his future endeavours.”
The news comes as Gulf Craft prepares to launch its in-build 53.34 metre flagship, the Majesty 175, which is scheduled for delivery this November.