NEWS

Gunboat has a new president.

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Gunboat founder and president Peter Johnstone has retired. Barry Carroll has been appointed to replace him.

The personnel reshuffle is related to a restructuring of the company's business, a company spokesperson said. Recall that Gunboat recently declared bankruptcy.

The luxury catamaran manufacturer currently employs 60 highly skilled workers at its North Carolina shipyard. Six boats are under construction - a 78-foot catamaran is nearing completion and five 55-footers are in the earlier stages of construction.

Work continues and no staff reductions are anticipated, the company says, which, by court order, will be sold at auction to the highest bidder.

Gunboat has had a very disappointing last few years with the G4 capsizing at Les Voiles de St Barth and the first Gunboat 55 Rainmaker hull crash affecting sales and the 60 series being scrapped in China due to faulty workmanship. At the time of bankruptcy, the company had more than 100 creditors and unsecured claims totaling more than $10 million.

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