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Meet Oyster CEO and owner, Richard Hadida

Oyster yachts ceo and owner richard hadida is literally ‘living the dream’.  when he acquired the business in early 2018, he knew it would be a challenge, but such was his passion for the iconic brand and its luxury bluewater sailing yachts, it was one he was keen to take on., administration, disposable plastic.

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Highfield Named Oyster Yachts CEO

Yachting Journal

Ashley Highfield, Oyster Yachts CEO (Photo: Chris Ison / Oyster Yachts)

Ashley Highfield has been appointed as the new CEO of Oyster Yachts. Highfield, who was previously Executive Chairman of the British-based luxury boat builder, has been fulfilling the interim CEO role since September 2022 following a reorganization, and was formally offered the role last month.

“I have known Ashley for literally decades, and been hugely impressed by his energy, experience, and vision across a number of businesses. In more recent years, Ashley and I have been closely working together on the successful turnaround of Oyster and growth of its topline revenues and brand. Over the past few months we agreed he should step in to manage the day-to-day operation of the business, during which period he has successfully steered operations, and initiated a number of new management strategies to further improve our growing business. Ashley has a deep understanding of, and buy-in to, our goals as a business, and I am truly delighted that he has accepted the role of Chief Executive Officer,” said Richard Hadida, the owner of Oyster Yachts.

Oyster Yachts is now in a great position to capitalize on the considerable investment made by Richard Hadida. The Oyster 495 recently won the prestigious European Yacht of the Year Award, illustrating the growing reputation of the Oyster Yachts marque. A strong order book and full build bays through late 2024 and into 2025 indicate the investment strategy is bearing fruit.

“It has been an honor for me to serve as Chair of this great British company for the past five years, and really get to know the team, Oyster’s unique strengths, and the enormous opportunities for the business. Now, as its new CEO, I look forward to working with our impressive leadership team and our 600-strong highly skilled and talented workforce based in Southampton, Norfolk, Palma, and the U.S.,” comments Highfield.

“We have a very clear vision for Oyster, and we will continue to deliver the very best, British-built, luxury cruising yachts in the world while ensuring that we run a sustainable and profitable business.”

Highfield will be replaced as Chair of the Oyster Yachts board by Richard Hadida. “One could say that this is the ultimate job swap, as Richard was previously CEO. This new structure will give Richard the opportunity to concentrate on new product development and the future range of our yachts, while I will concentrate full-time on this new CEO role, building on the excellent work of the past four years, with this next phase in Oyster Yachts’ voyage” concludes Highfield.

Highfield has been at the helm of some of Britain’s best known brands. During his eight years at the BBC as main Board Director for New Media and Technology, he was responsible for, amongst other things, the development and launch of BBCiPlayer and the growth of BBC Online. He then spent some seven years as CEO at Johnston Press, owners of The Scotsman, the Yorkshire Post and the Portsmouth News amongst some 250 other titles, during which tenure he bought the i newspaper, before joining the Oyster board in 2018. He has served on the boards of organisations as diverse as See Tickets, British Film Institute, and William Hill plc, is a non-executive Director to the Eden Project, a qualified Chartered Engineer as well as Fellow of several organizations, including the Royal Television Society. He has sailed extensively in the Caribbean and Mediterranean and would love one day to do the Oyster World Rally – though with a 15-month old son, and a 14 year old daughter - that dream may be a little way off!

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How the CEO of Oyster Yachts Got the Luxury Boat Builder Floating Again

Richard hadida's plan involves a two-pronged approach: build the boats more efficiently, and eliminate discounts on boat sales..

Danielle Cutler

Danielle Cutler's Most Recent Stories

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Just 18 months after taking the helm of a flailing sailing-yacht company, its new owner has not only met every benchmark toward getting it back in the black; he’s launched the first of a whole new line of boats in the brand’s portfolio. The new 565 range, plus increased annual production and two new classes of yacht, should help to fully right the ship, says rescuer-in-chief Richard Hadida. In the past, Oyster Yachts built a mere 15 boats a year, and Hadida, who made his fortune in casino gaming software, is betting on bringing that number up to about 25. “The business will be very healthy if that happens,” he says.

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Though his three-year turnaround plan is on track, the details got more complicated than anticipated. For example, Oyster used to buy hulls from another company that also went under, so he bought that business as well. Bringing the hull construction in-house required a big investment of capital, but it also means the company will have the capacity to increase production. His plan to steer the company out of the red involves a two-pronged approach: Build the boats more efficiently, and eliminate discounts on boat sales. “We have to protect the margin,” Hadida says. “It’s the most fundamental thing.”

To help with that, he hired Becky Bridgen, a former mergers-and-acquisitions consultant, as Oyster’s chief financial officer—and woman on the ground. “I initially came to give Richard a few hours of advice on how to acquire Oyster from the administrators,” Bridgen says, “and here I am still, one year on.” While Hadida was busy getting his life to a place where he could step over to Oyster and do his thing, Bridgen was the one to open up the shipyard’s gates and get business rolling again.

Oyster 565  Courtesy of Oyster Yachts

First on the list was to make good on the orders that were already contracted or in build. “It is a fantastic brand that built amazing yachts , but we were starting out all over again,” Bridgen says. “We started with no staff but were faced with a number of owners with part-built yachts that we needed to help get completed. Our first yacht handover was four months later.” Just five months after taking over, the company had already signed contracts to build new yachts. Hadida estimates that Oyster finished 12 boats while simultaneously updating the yard with state-of-the-art systems and processes.

Next, he streamlined the number of models Oyster will offer and build. He took it down to six, ranging from 56 feet to 123 feet in size and priced from $1.76 million to $25 million, depending on size, fit and finish. “And out of those six, three of them are absolutely brand-new,” Hadida says. “We’re just producing the first ones. These are the first 565 s coming out. They’re all brand-new-designed boats, first of class.”

“We have clear milestones for delivery of results, both financial and production-wise,” Bridgen says. “We are on track at the end of year one, and the number of new yachts to deliver in the current year is on target, with the 565 being very well received at its recent launch . It’s the first of the new Oysters in the 50-foot range, our new Pocket Superyacht. Sales of this yacht and our larger 675 and 745 will see us return to profit in 2020.” At press time, Oyster was preparing to launch its new flagship, the 123-foot Oyster 1225.

The Oyster 565 launch event at Tower Bridge, London.  Brian Carlin

Owning a shipyard wasn’t Hadida’s long-term goal or even a pipe dream. In 2006 he started Evolution Gaming , a top casino gaming-software business, which employs more than 5,000 worldwide and has a $3.2 billion market cap on the Swedish Stock Exchange. But his love for sailing and the 46-year-old British sailing marque motivated him to embark on the unexpected challenge when, in February 2018, just a few weeks after Oyster Yachts booked its biggest order ever, the yard suddenly shut its doors amid the celebration, shocking not only the sailing community but also its nearly 400 employees. “All I can gauge is that they didn’t sell the boats for the right margin. Simple as that,” says Hadida.

These days, as the sole owner of the yacht company, he has stepped away from his tech business and is fully focused on the yard. “It’s not something you can do part time,” he says. “But I also love it here.” The 54-year-old British businessman fell in love with yachting when he chartered a boat for his sister’s wedding in the Greek islands—he wanted to impress his then girlfriend, now wife, Jenny. They sailed from Athens to the wedding through a storm. When they spotted the island on the horizon after the storm broke, he thought, “‘Oh, my God. We did it.’ It was a very important moment for me,” he says. “That’s when I got into sailing, and I never looked back.” The couple waited to make it a regular part of their lives until both of their sons (now 12 and 15) could swim. Five years ago, when the younger one started swimming, they bought the Oyster 885 sailing yacht Lush .

Oyster 1225  Courtesy of Oyster Yachts

Hadida has turned his passion for sailing into a business venture and acknowledges that some people say that isn’t a good idea. “But I’m doing it, and so far, everything I’ve done has worked. There’s no question that we’re achieving what we want to achieve. And by this time next year, we will be well into the land of profitability.”

The next step in Hadida’s plan of attack is marketing, which he says the company has essentially ignored over the past five years. “Marketing is what gets us the leads, which then convert into sales,” he says. He envisions opening a brick-and-mortar shop and an online configurator clients can use to design their boats. Oyster has resumed flying its banners at the high-profile boat shows as well, displaying a new Oyster 675 at September’s Cannes Yachting Festival and the freshly refit Lush at the Monaco show . Plus, the company will continue to host its biennial World Rally, which circumnavigates the globe over a two-year period, and two annual Oyster Regattas. “When you look at the last half-dozen boats we’ve sold, everyone is from a different country—Japan, Brazil, Germany. So our customers are everywhere in the world. We have to get the name, the brand, out there to every country.”

Oyster Regatta, Antigua  Brian Carlin

The next World Rally is scheduled to set sail from Antigua in January 2022 and head west, ultimately finishing back in Antigua in April 2023. The rally is a non-competitive circumnavigation that takes advantage of the best sailing grounds and is open to Oyster yacht owners, with professional shore support at key stopover points and help getting through the Panama Canal.

Looking ahead, Hadida says that society’s growing concerns about climate change are on Oyster’s side. “The young people of today are so much more educated in all things green and environmentally powerful,” Hadida says. “My firm belief is that it’s going to be less and less acceptable to drive into a beautiful bay in a large, noisy motor yacht. I think we will revert back to the oldest form of transportation—sailing.”

Any regrets about buying the company? “Not for one second,” Hadida says. “I feel proud. I feel excited. It’s a totally different thing [from Evolution Gaming]. It’s a labor of love.”

Danielle Cutler started covering yachts, marinas, and the yachting industry in 2005. Besides writing and editing yacht content for Robb Report, Danielle has worked for Yachts International and the…

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Oyster Yachts appoints new CEO

Ashley Highfield has been appointed as the new CEO of Oyster Yachts. Previously executive chairman of the British-based luxury boatbuilder, Highfield has been fulfilling the interim CEO role since September 2022, following a re-organisation, and was formally offered the role in January 2023.

Highfield will be replaced as chair of the Oyster Yachts board by the owner and former CEO Richard Hadida.

Highfield commented, “One could say that this is the ultimate job swap, as Richard was previously CEO. This new structure will give Richard the opportunity to concentrate on new product development and the future range of our yachts, while I will concentrate full-time on this new CEO role, building on the excellent work of the past four years, with this next phase in Oyster Yachts’ voyage.”

Hadida said, “I have known Ashley for literally decades and have been hugely impressed by his energy, experience, and vision across a number of businesses. In more recent years, Ashley and I have been closely working together on the successful turnaround of Oyster and the growth of its topline revenues and brand.”

Hadida acquired Oyster Marine in 2018, six weeks after the shipyard went into administration, and formed Oyster Yachts as a new company.

Hadida continued, “Ashley has a deep understanding of, and buy-in to, our goals as a business, and I am truly delighted that he has accepted the role of chief executive officer.”

Oyster Yachts says it is now in a great position to capitalise on the investment made by Hadida, with a strong order book and full build bays through late 2024 and into 2025.

Highfield continued, “I look forward to working with our impressive leadership team and our 600-strong highly skilled and talented workforce based in Southampton, Norfolk, Palma, and the USA. We have a very clear vision for Oyster, and we will continue to deliver the very best, British-built, luxury cruising yachts in the world while ensuring that we run a sustainable and profitable business.”

For more information, visit Oyster Yachts .

For more news and yachting tips, connect with us on Facebook , Twitter, Instagram and LinkedIn.

Source: Marine Industry News

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Oyster bought out of administration by Richard Hadida Yachting

Richard Hadida Yachting has acquired  Oyster Marine  it emerged today (March 20), six weeks after the British yard went into administration.

Speaking exclusively to Boat International , the new owner and interim CEO said: "My intention is to get people back to work tomorrow, get costs down and increase the speed of the build." Hinting at a new entry-level model, he added: "Rather than making Oysters exclusive to people who have the money to buy a 50 foot (15 metre) yacht, we want to open it up to new owners. The sooner we get them into the family, the better."

"I was on holiday with [ Boat International columnist] Eddie Jordan in Cape Town when the news came through and I thought: ‘I need to do something about this,'" Hadida continued. Having sailed regularly on Jordan's Oyster 885 yacht Lush , the new yard owner has developed a love of the yard and its range, which dates back to 1973. "My passion for the brand has driven my decision to acquire the business," he explained.

Oyster recently reported its largest ever order book worth in excess of £80million, and the new ownership will allow construction to resume on its flagship project, the  Oyster 118 , which is still due for completion before the end of the year, the new management has confirmed. It is anticipated that more than 400 of the original 420-strong workforce will be rehired.

Hadida revealed that 25 further yachts are currently at various stages of completion across Oyster's two sites in Southampton and Wroxham, and confirmed that long-term design partner  Rob Humphreys  will continue his close collaboration with the yard.

"Oyster will have a much stronger and much more assured future now," Humphreys told Boat International . "I’ve known [Hadida] for more than two years now — he’s a very good sailor and passionate about the brand.

"I wrote to him early on when this all happened, but he didn’t need much encouragement. He’s a paid-up subscriber to the brand values and wants to push it forward and take it into new markets. It couldn’t be in better hands, really."

What's more, former  Sunseeker  COO and turnaround specialist Kim Stubbs has been brought on board — it is understood that his 'zero tolerance manufacturing' approach will form a key part of the new business plan.

"I firmly believe we can use the experience of the Sunseeker turnaround to deliver fast, and sustainable results at Oyster," Stubbs said. "We look forward to starting today to deliver on the clear promise of this remarkable sailing marque.”

The deal, which was concluded for an undisclosed sum, includes Oyster Marine Limited as well as Oyster Marine Holdings, meaning that the brand name and trademark, technical designs and drawings, build manuals, hull mouldings, machinery and subsidiary shares have all been purchased.

However the new company, which will trade under the name Oyster Yachts, will carry no liability for the 2015 sinking of the 27.43 metre sailing yacht  Polina Star III  and any subsequent legal action.

Speaking on behalf of the administrators KPMG, Neil Gostelow said: “We are delighted to have a concluded a sale of the business, ensuring the recommencement of yacht production together with the opportunities for employment that this will bring.”

Meanwhile, former Oyster CEO David Tydeman added: "I’m sure Richard will lead Oyster through the next chapter of its successful history with enthusiasm and care. Thanks to all the team for the fantastic achievements of the last decade — we’re handing Richard a great range of seven new models, and a more cohesive and global brand identity than when we started."

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By SuperyachtNews 21 Mar 2018

Tech entrepreneur Richard Hadida acquires Oyster Yachts

British entrepreneur and founder of evolution gaming group richard hadida becomes new owner and ceo of oyster yachts….

Following the news on 7 February 2018 that Oyster Yachts, a stalwart of the British and global yachting communities, had gone into administration with KPMG, Oyster Yachts has now announced that it is under new ownership and that a new management team has been instated. It is hoped that the acquisition of Oyster Yachts will be able to secure the future of over 400 jobs. The sale of Oyster to Richard Hadida, the entrepreneur founder of global software business Evolution Gaming Group, ensures the business can be relaunched and, hopefully, be secured for the future.

The joint administrators have confirmed that the sale of Oyster Yachts includes the assets and business of Oyster Marine Limited, and the assets of Oyster Marine Holdings Limited including its shareholdings in certain companies within the Oyster Group.

“It has been my privilege to sail an Oyster Yacht for some years. I fell in love with Oyster, the yacht, the events and more importantly the Oyster family,” comments Richard Hadida, Oyster’s new owner. “My passion for the brand has driven my decision to acquire the business. The Oyster brand is central to the yachting world.”

The new ownership will allow the company to complete works on a number of on-going projects, including two 37.45m Oyster 118s, that were put on hold when Oyster previously went into administration. The first Oyster 118 will become Oyster’s flagship vessel upon delivery later this year, the second is scheduled for delivery in 2020.

“I firmly believe that we must save this prestigious British yacht builder and continue to nurture and grow the Oyster Group for the long term,” continues Hadida. “My investment in Oyster is not merely a hobby. Oyster needs to be a sustainable business. Hard, quick decisions need to be taken. There is considerable work to be done to turn the business around and I believe with the support of Kim, Beck and Paul, who bring unique credentials to the team, not least the hugely successful turnaround of Sunseeker, we will achieve this.”

In addition to taking over the ownership of Oyster, Hadida has established a new management team to lead the future of the company. Hadida himself will act as interim CEO of the company. Hadida will be supported by Kim Stubbs, interim chief operating officer, who helped spearhead the successful transformation of Sunseeker from a loss-making position back to profit in just 24 months, Beck Bridgen as acting CFO and Paul Adamson who will act as chief transformation officer.

“The opportunity to work with Richard and a brand such as Oyster is extremely exciting,” comments Stubbs. “For the sailing community, Oyster is truly the symbol of leading yacht design. I firmly believe that we can use the experience of the Sunseeker turnaround to deliver fast and sustainable results at Oyster and we look forward to starting today to deliver on the clear promise of this remarkable sailing marque.”

David Tydeman, former CEO of Oyster Yachts, comments: “Congratulations to Richard Hadida with his take-over of Oyster Yachts, I’m sure he’ll do a great job of taking Oyster through the next chapter of its successful history – thanks to all the team for the fantastic achievements of the last chapter/decade – we’re handing Richard a great range of seven new models, a more cohesive and global brand identity than when we started as summed up by Andrew Winch at the Dusseldorf Show, ‘Oyster is the explorer brand of yachting’.”

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How the CEO of Oyster Yachts Got the Luxury Boat Builder Floating Again

Click here to read the full article.

Just 18 months after taking the helm of a flailing sailing-yacht company, its new owner has not only met every benchmark toward getting it back in the black; he’s launched the first of a whole new line of boats in the brand’s portfolio. The new 565 range, plus increased annual production and two new classes of yacht, should help to fully right the ship, says rescuer-in-chief Richard Hadida. In the past, Oyster Yachts built a mere 15 boats a year, and Hadida, who made his fortune in casino gaming software, is betting on bringing that number up to about 25. “The business will be very healthy if that happens,” he says.

Though his three-year turnaround plan is on track, the details got more complicated than anticipated. For example, Oyster used to buy hulls from another company that also went under, so he bought that business as well. Bringing the hull construction in-house required a big investment of capital, but it also means the company will have the capacity to increase production. His plan to steer the company out of the red involves a two-pronged approach: Build the boats more efficiently, and eliminate discounts on boat sales. “We have to protect the margin,” Hadida says. “It’s the most fundamental thing.”

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To help with that, he hired Becky Bridgen, a former mergers-and-acquisitions consultant, as Oyster’s chief financial officer—and woman on the ground. “I initially came to give Richard a few hours of advice on how to acquire Oyster from the administrators,” Bridgen says, “and here I am still, one year on.” While Hadida was busy getting his life to a place where he could step over to Oyster and do his thing, Bridgen was the one to open up the shipyard’s gates and get business rolling again.

First on the list was to make good on the orders that were already contracted or in build. “It is a fantastic brand that built amazing yachts , but we were starting out all over again,” Bridgen says. “We started with no staff but were faced with a number of owners with part-built yachts that we needed to help get completed. Our first yacht handover was four months later.” Just five months after taking over, the company had already signed contracts to build new yachts. Hadida estimates that Oyster finished 12 boats while simultaneously updating the yard with state-of-the-art systems and processes.

Next, he streamlined the number of models Oyster will offer and build. He took it down to six, ranging from 56 feet to 123 feet in size and priced from $1.76 million to $25 million, depending on size, fit and finish. “And out of those six, three of them are absolutely brand-new,” Hadida says. “We’re just producing the first ones. These are the first 565 s coming out. They’re all brand-new-designed boats, first of class.”

“We have clear milestones for delivery of results, both financial and production-wise,” Bridgen says. “We are on track at the end of year one, and the number of new yachts to deliver in the current year is on target, with the 565 being very well received at its recent launch . It’s the first of the new Oysters in the 50-foot range, our new Pocket Superyacht. Sales of this yacht and our larger 675 and 745 will see us return to profit in 2020.” At press time, Oyster was preparing to launch its new flagship, the 123-foot Oyster 1225.

Owning a shipyard wasn’t Hadida’s long-term goal or even a pipe dream. In 2006 he started Evolution Gaming , a top casino gaming-software business, which employs more than 5,000 worldwide and has a $3.2 billion market cap on the Swedish Stock Exchange. But his love for sailing and the 46-year-old British sailing marque motivated him to embark on the unexpected challenge when, in February 2018, just a few weeks after Oyster Yachts booked its biggest order ever, the yard suddenly shut its doors amid the celebration, shocking not only the sailing community but also its nearly 400 employees. “All I can gauge is that they didn’t sell the boats for the right margin. Simple as that,” says Hadida.

These days, as the sole owner of the yacht company, he has stepped away from his tech business and is fully focused on the yard. “It’s not something you can do part time,” he says. “But I also love it here.” The 54-year-old British businessman fell in love with yachting when he chartered a boat for his sister’s wedding in the Greek islands—he wanted to impress his then girlfriend, now wife, Jenny. They sailed from Athens to the wedding through a storm. When they spotted the island on the horizon after the storm broke, he thought, “‘Oh, my God. We did it.’ It was a very important moment for me,” he says. “That’s when I got into sailing, and I never looked back.” The couple waited to make it a regular part of their lives until both of their sons (now 12 and 15) could swim. Five years ago, when the younger one started swimming, they bought the Oyster 885 sailing yacht Lush .

Hadida has turned his passion for sailing into a business venture and acknowledges that some people say that isn’t a good idea. “But I’m doing it, and so far, everything I’ve done has worked. There’s no question that we’re achieving what we want to achieve. And by this time next year, we will be well into the land of profitability.”

The next step in Hadida’s plan of attack is marketing, which he says the company has essentially ignored over the past five years. “Marketing is what gets us the leads, which then convert into sales,” he says. He envisions opening a brick-and-mortar shop and an online configurator clients can use to design their boats. Oyster has resumed flying its banners at the high-profile boat shows as well, displaying a new Oyster 675 at September’s Cannes Yachting Festival and the freshly refit Lush at the Monaco show . Plus, the company will continue to host its biennial World Rally, which circumnavigates the globe over a two-year period, and two annual Oyster Regattas. “When you look at the last half-dozen boats we’ve sold, everyone is from a different country—Japan, Brazil, Germany. So our customers are everywhere in the world. We have to get the name, the brand, out there to every country.”

The next World Rally is scheduled to set sail from Antigua in January 2022 and head west, ultimately finishing back in Antigua in April 2023. The rally is a non-competitive circumnavigation that takes advantage of the best sailing grounds and is open to Oyster yacht owners, with professional shore support at key stopover points and help getting through the Panama Canal.

Looking ahead, Hadida says that society’s growing concerns about climate change are on Oyster’s side. “The young people of today are so much more educated in all things green and environmentally powerful,” Hadida says. “My firm belief is that it’s going to be less and less acceptable to drive into a beautiful bay in a large, noisy motor yacht. I think we will revert back to the oldest form of transportation—sailing.”

Any regrets about buying the company? “Not for one second,” Hadida says. “I feel proud. I feel excited. It’s a totally different thing [from Evolution Gaming]. It’s a labor of love.”

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Oyster Yachts appoints new CEO

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Former Oyster Yachts’ Executive Chairman, Ashley Highfield has now been appointed as CEO. Richard Hadida, owner of Oyster Yachts said, “Ashley and I have been closely working together on the successful turnaround of Oyster and growth of its topline revenues and brand…..Ashley has a deep understanding of our goals as a business, and I am truly delighted that he has accepted the role of Chief Executive Officer.”

Oyster Yachts is now in a great position to capitalise on the considerable investment made by Richard Hadida. The Oyster 495 recently won the prestigious European Yacht of the Year Award and has a strong order book and full build bays into 2025.

“It has been an honour for me to serve as Chair of this great British company for the past five years…. as its new CEO, I look forward to working with our impressive leadership team and our 600-strong highly skilled and talented workforce based in Southampton, Norfolk, Palma, and the US. We have a very clear vision for Oyster, and will continue to deliver the very best British-built, luxury cruising yachts in the world while ensuring that we run a sustainable and profitable business.”  comments Highfield.

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Becky Bridgen retires from Deputy CEO role at Oyster

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After bankruptcy, a new owner for Oyster Yachts

April 10 2018

Written by Yachting Art Magazine

British entrepreneur and founder of Evolution Gaming Group Richard Hadida, becomes new owner and CEO of Oyster.

New team aims to prioritise rapidly re-building teams and operations, the completion of in-build projects on behalf of Oyster customers, before re-establishing Oyster as the pre-eminent name in luxury yacht building.

Oyster Yachts, announces a new owner and management team for the business, which is expected to secure the future of over 400 jobs and this iconic British sailing brand. 

The sale of Oyster to entrepreneur Richard Hadida, founder of global software business Evolution Gaming Group, ensures the business can be re-launched and secured for the long term.

Oyster was founded in 1973. Its initial focus was on marketing a range of cruiser racers, with the emphasis on performance. It has since built a reputation as the leading manufacturer of high end yachts in the sailing industry. Oyster yachts have a distinctive deck saloon style and are renowned for their quality, comfort and performance. The yacht fleet ranges from 47 to 118 feet. The Company's business is truly international and Oyster has already won two Queen's Awards.

The successful sale of Oyster to its new owner provides a significant boost to the UK yacht building industry and it is hoped will result in securing the future over 400 highly skilled jobs in Southampton and Wroxham. Oyster Yachts are considered the very peak in yacht manufacturing and design. The “Bentley of the Seas” continues to push the boundaries of innovation and high end design, providing its customers with the very best in yacht design and above all, an absolute commitment to customer service, with a unique end to end customer experience.

The new ownership enables the business to complete work on on-going projects on behalf of its customers, which had been paused during the administration process. It also means Oyster can deliver on hugely exciting new projects. This includes the new Oyster 118 – its flagship new yacht that is expected to be launched later this year. Prior to administration the Group operated with 420 employees, primarily across its two main manufacturing sites in Southampton and Wroxham. A key immediate task, for the new owner and management team is to re-build that highly skilled workforce and deliver on the projects on behalf of waiting customers.  

Richard has established a new management team to lead the transformation of Oyster. Richard will himself act as Interim CEO of the business. He will be supported by Interim Chief Operating Offer Kim Stubbs, who helped lead the successful transformation of Sunseeker from a loss making position back to profit in just 24 months. PwC will continue to support the finance function, including appointing Becky Bridgen as Acting CFO. Finally, Paul Adamson will act as Chief Transformation Officer. A former professional sailor and yacht skipper, Paul brings a wealth of Oyster yachting knowledge both as a skipper and a consultant for Oyster owners. 

Richard Hadida, Oyster’s new owner, said to Yachting Art Magazine : “It has been my privilege to sail an Oyster Yachts for some years. I fell in love with Oyster, the yachts, the events and more importantly the Oyster family. My passion for the brand has driven my decision to acquire the business. The Oyster brand is central to the yachting world. I firmly believe that we must save this prestigious British yacht builder and continue to nurture and grow the Oyster Group for the long term. My investment in Oyster is not merely a hobby. Oyster needs to be a sustainable business. Hard, quick decisions need to be taken. There is considerable work to be done to turn the business around and I believe with the support of Kim, Becky and Paul, who bring unique credentials to the team, we will achieve this, not least the hugely successful turnaround of Sunseeker.”

Kim Stubbs, COO of Oyster said: “The opportunity to work with Richard and a brand such as Oyster is extremely exciting. For the sailing community, Oyster is truly the symbol of leading yacht design. I firmly believe we can use the experience of the Sunseeker turnaround to deliver fast, and sustainable results at Oyster and we look forward to starting today to deliver on the clear promise of this remarkable sailing marque.”

Paul Adamson, CTO of Oyster said: "Having sailed Oyster Yacht’s for over 19 years including an Oyster 885 around the world in the inaugural Oyster World Rally it is an absolute privilege to join Richard’s team. Personally, like thousands of others, I adore the ‘Oyster brand’ and everything that it stands for. Between Richard, Kim & Myself we are dedicated to re-establishing Oyster as the leader of global yacht building.”

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Becky Bridgen retires from deputy CEO role at Oyster

Wednesday, September 28th, 2022

Written by: Marine Industry News

Becky Bridgen has announced her retirement. She leaves her role as deputy CEO at Oyster Yachts.

Over the last four and half years, Bridgen has worked hand-in-hand with Richard Hadida, and the board, under the chairmanship of Ashley Highfield, to turnaround the fortunes of the luxury yacht business , following the acquisition of the business in 2018.

Bridgen retires leaving Oyster in good shape. During her time in the role, she has overseen the launch of three new models – the 565, 595 and earlier this year the latest addition to the fleet, the 50 foot Oyster 495. Production of Oyster Yachts has been transformed, the workforce has increased to over 600 and the manufacturing footprint expanded to Hythe Marine Park, with a state-of-the-art facility, which manufactures the new Oyster 495 and the 675. The outlook for Oyster is positive, with build bays full and order books on most models out to 2024.

“I’ve had the most incredible time at Oyster, and the workload over these past years has been immense with all the positive developments we’ve implemented, plus of course all the extra challenges as a result of Brexit and the global pandemic,” says Bridgen. “I’m sad to leave Oyster, but proud to have worked with such a great team and talented boat builders, who together make Oyster so special.”

Bridgen will continue to remain close to Oyster, collaborating and imparting her extensive knowledge and experience in a part time capacity, providing continuity to the business, customers and suppliers.

Richard Hadida commented, “We’re very sad to see Becky leave us. Becky has delivered an outstanding contribution to the turnaround programme at Oyster Yachts. She will always remain part of the Oyster family and I look forward to our continued collaboration.”

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Oyster Yachts CEO and Leadership

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Richard Hadida is a Chief Executive Officer at Oyster Yachts and is based in London, Greater London, United Kingdom.

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Chris Hicks is a Chief Financial Officer at Oyster Yachts.

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