Oct. 15, 2009 (Al Bawaba) -- ART Marine, an Abraaj Capital portfolio company and the Middle East's largest importer and distributor of luxury motor-yachts, announces the appointment of a highly experienced CEO from the United States to drive its expansion in the region as demand for pleasure craft begins to recover.
Demonstrating the Gulf's continued ability to attract some ofthe world's most talented professionals, Constantinos Constantinou joinsDubai-based ART Marine from Cobalt Yachts in Tennessee, where he served asPresident.
Mr. Constantinou began his career in Cyprus with Cobra MarineServices. In 1995, he joined the Sea Ray division of Brunswick Corp. (NYSE:BC) , theU.S.'s biggest marine manufacturer.
There, he served as Senior Vice Presidentfor Strategic Alliances & International Operations. He joined Cobalt Yachtsin 2005.
"Constantinos' broad marine operations expertise, combinedwith his 20 years experience in various high-level positions in the marineindustry, will make a significant contribution to ART Marine and itscustomers," said Alessio Tumbiolo, Chairman and co-founder of ART Marine.
ART Marine, the region's exclusive dealer for Benetti, Azimut,Atlantis and Riviera yachts, has been expanding across the Middle East withoperations in five countries, including the UAE, Bahrain, Kuwait, Qatar andEgypt.
The firm is the only yacht dealer in the region offering extensiveafter-sales services. Demand for luxury yachts in the Middle East hasexploded over the last 10 years, driven by increased wealth generation andthe development of marinas in the Gulf and Red Sea.
"I'm excited to join ART Marine and to be leading such ahigh-caliber team.
The Gulf region is one of the most promising marketsglobally, and the affinity for pleasure boating and yachting is increasingsteadily," Mr. Constantinou said. "We are introducing new standards byimplementing a 360-degree marine hospitality strategy that encompasses a widearray of services such as sales, maintenance, after-sales support,chartering, brokerage, yacht management, and marina management andoperations. I look forward to contributing towards the remarkable growth ofART Marine as we expand our range of products and services to all regionalmarkets."ｩ 2009 Al Bawaba (www.albawaba.com)
