In a post about the change, Oceanco says Newell’s interest in the brand comes from a “lifelong fascination with the sea” and “a deep respect for the people who live and work on it.” Oceanco is based in the Netherlands, and it has changed leadership a few times since its founding in 1987, with private investor Mohammed Al Barwani helming the company for the past 15 years before Newell came along.

As for what Newell plans to do now that he’s the head of a big superyacht builder, Oceanco puts it pretty simply: “His first decision? Leave the team alone. Seriously. Oceanco has vision and integrity, and a culture that actually works. Gabe doesn’t want to fix it, he wants to fuel it.”