Gulf Craft Proceeds with Comprehensive Management Restructuring

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Shipbuilder prepares for further expansion into new markets; Abeer Alshaali appointed as interim CEO

UNITED ARAB EMIRATES (January 16, 2020) - Setting the company on a course toward continued growth, United Arab Emirates superyacht builder, Gulf Craft, has announced updates to its #management restructuring. Speaking about planning and preparing the shipyard for further expansion into new markets, company Chairman Mohammed Alshaali said, "Following Majesty Yachts' successful debut in the U.S. market in fourth quarter 2019 and our aggressive development plan, we are empowering the shipyard through a team of experts who are able to solidify Majesty Yachts' place as a leader within the new yachting marketplace."
After holding the position of Executive #management Officer for almost six years,Abeer Alshaali has taken the helm as Acting Chief Executive Officer. Raised and educated in the U.S. where she completed her bachelor's degree at Rice University in Houston, Texas, Ms. Alshaali joined Gulf Craft in the Executive Office, handling company #management alongside her father and implementing new processes to improve company structure and efficiency. Ms. Alshaali is also a board member of the Ajman Media City Free Zone and served as a mentor in the Shaikh Abdulaziz Bin Humaid Leadership Program.
"It's a huge honor for me to take such an important job in a company that has been an integral part of my life for many years," said Abeer Alshaali. "My objective is to maintain the progress made in recent years and capitalize on substantial growth opportunities in the industry."
As Chief Operating Officer, Paul J. Gray brings a wealth of experience from other leading shipyards, where he successfully established efficient processes and significant business models. Mr. Gray began in the industry building yachts for an acclaimed British shipyard and advanced to project #management. He then moved to the U.S., bringing European production techniques to the semi-custom superyacht manufacturers building in aluminum and carbon fiber. He then returned to the UK to join the operational segment of another British shipyard, helping it build its superyachts line before joining Gulf Craft.
"I'm privileged to have been given the opportunity of drawing on my extensive experience from other leading shipyards to ensure that Gulf Craft's business model maximizes efficiency and growth in practicality, functionality and quality of its wide product range," said Gray.
Chief Commercial Officer Nizar Tagi, a yachting connoisseur, now directs the sales and marketing departments, with responsibility for commercial strategy, including business development, strategic alliances, distribution channel optimization and product development.
Before joining Gulf Craft, Mr. Tagi was director of the world-renowned superyacht marina OneOcean Port Vell and was General Manager of a prominent Italian yacht builder in Hong Kong. An expert in sales and marketing, Mr. Tagi often speaks at major yachting conferences and has served as a consultant to several leading yachting industry brands.

"This is an exciting time in the long history of Gulf Craft and I am honored to be part of it," said Mr. Tagi. "I'm proud to assume responsibility for driving forward sales in a competitive industry that offers huge scope for new business opportunities."
As part of the restructuring, Notis Menelaou has stepped down as Vice President of Sales.

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