GYG appoints Richard McGuire to its Board of Directors as Independent Chairman

– SPAIN, Mallorca –  GYG PLC (LON: GYG), the market-leading superyacht painting, supply, and maintenance company, today announced the appointment of Richard McGuire as Independent Non-Executive Chairman with immediate effect, replacing Stephen Murphy who has decided to step down from his role.

About Richard McGuire

Richard McGuire has almost 40 years of experience in investment markets, having worked within private equity, investment banking, institutional asset management companies, and as a board member of various listed companies. Richard’s most recent roles were with Sportech plc which he joined in 2016 as a Non-executive Director, becoming Chairman in 2017 and then CEO in 2019, overseeing a restructuring of the business completed in August 2021 when he stepped down from Sportech’s board. Richard has also previously served as a Non-executive Director of Timeweave plc and Mitchells & Butlers plc. Mr. McGuire has, in the past, also held management positions at Tavistock Group, Citigroup, Salomon Brothers, and HSBC.

Richard McGuire commented: “I am pleased to be taking on this role with GYG. The fundamentals are in place and the business is well-positioned for the future. Remy and his management team provide a wealth of industry expertise and I am looking forward to working with them all going forward.”

About GYG

GYG is the market-leading superyacht painting, supply, and maintenance company, offering services globally through operations in the Mediterranean, Northern Europe, and the United States. The Company’s brands include Pinmar, Pinmar Yacht Supply, and Technocraft. GYG’s operations can be divided into three key sales channels:

  • Refit: repainting and finishing of superyachts, normally as part of a refit program. Revenues also include scaffolding and containment work;
  • New Build: fairing and painting of new vessels as part of the build process; and
  • Supply: selling and delivery of maintenance materials, consumables, spare parts, and equipment primarily to trade customers.

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