After 26 years at the helm of Clipper Ventures, which organises the Clipper Round the World Yacht Race, chairman Sir Robin Knox-Johnston and chief executive William Ward OBE have announced they are stepping back from the day-to-day running of the business.

As Yachts and Yachting reports, Clipper Ventures will now be led by internally appointed managing directors Chris Rushton and Laura Ayres.

They lead a new management board, on which Ward will sit as executive chairman and Sir Robin as non-executive director and President.

In addition, as part of what’s described as “a long-term succession plan”, the business has engaged with FRP Corporate Finance to enable the co-founders to reduce most of their shareholdings and find a new owner for the business.

Sir Robin said: “For the last 26 years, William and I have been, and will continue to be inspired by the thousands of race crew who have taken part in the Clipper Race. By sailing across the world's oceans, many with no sailing experience prior to their Clipper Race training, they achieve something truly remarkable, which was our goal right from the beginning.

“Seeing the company grow from a biennial yacht race to a multi-faceted company that enables people from all walks of life to participate in sailing- whether an ocean racing experience, adventure to the Arctic or earning a world class sailing qualification, has been a privilege.

“Chris and Laura have been at the forefront of driving the business to this strong position in recent years, and we could not be more confident and prouder to pass them the helm going forward.”

Yachts and Yachting has more on the story HERE.