Gulf Craft has announced that Gregory Yeakle will be stepping down as the company’s CEO.

As part of Gulf Craft’s growth and development plan and the ongoing re-structuring, the Board of Directors has determined that chairman Mohammed Hussein Alshaali will be assuming the role of Executive Chairman of the company.

Gulf Craft will continue its restructuring plan and several other announcements will be made in the months to come.

In Gulf Craft’s statement they commented: “Gulf Craft’s Board of Directors along 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.”

“This is part of the growth process of the company. We are continuing the restructuring exercise that we started and we expect that as the company grows the team will continue to grow.”