Stabicraft founder and chief executive stepping aside

Monday, 24 February 2020

Founder and chief executive of Stabicraft, Paul Adams, is moving into a new ambassadorial role.

Stabicraft is on the hunt for a new chief executive, with its founder Paul Adams stepping aside after 33 years at the helm.

Adams co-founded the Invercargill-based company in 1987 off the back of a DIY innovation in a Bluff workshop - the world's first virtually unsinkable aluminium boat.

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'I've been planning my succession since late 2016,' Adams said.

'Now is the time for a new chief executive with a special skill set, energy and passion to take Stabicraft to the next level.'

The new chief executive would likely come from outside the company, he said, and it could take three to nine months to find the successor.

Speaking on the state-of-play for business ventures in Southland, Adams said building and tourism looked to be in a good position, but said 'we are an industrial community by nature.'

Adams will remain with the company, moving into an ambassadorial role and focusing on his strength and passion - design and innovation.

The company has a 'few irons in the fire' in terms of prototypes, but Adams remained tight-lipped on any details.

'We're always working on being different, good different,' he said.

From its base in Invercargill, with a staff of about 130 adventure engineers, the company manufactures hundreds of boats every year, supported by a global team of 33 dealerships.

The company is looking for specialised welders, and growth was ''high on the list' of the company's strategic plan, Adams said.

The company's success has been recognised in New Zealand and overseas with numerous awards including Southland exporter of the year, multiple boat show honours and a globally prestigious Red Dot design award.

In 2007, Adams was appointed as a Member of the New Zealand Order of Merit for services to business and then in 2019, he was inducted into the illustrious Hutchwilco Hall of Fame of marine industry movers and shakers.

'This is an exciting period for Stabicraft and myself,' Adams said.

'The new chief executive has a great opportunity to bring their own style to an organisation that is experiencing some serious growth.

'I cannot wait to see what the next 33 years will bring.'