One of South Devon's most successful companies has seen a change at the top of the firm.
As part of a planned succession strategy at Teignbridge Propellers Limited in the New Year, Mark Phare has moved to the position of Group Managing Director, succeeding David Hunt.
Mr Hunt remains a Director and shareholder of the company along with David Duncan, the Chairman.
Mark, who has been with Teignbridge for 19 years, previously held the positions of Operations Director and Group Sales & Marketing Director.
Mr Hunt said: "Mark is an experienced executive with a strong track record of leadership and an extensive knowledge of the marine industry and the sectors in which we operate.
"The Teignbridge board has done an excellent job steering the company through the past two years of the pandemic. We have developed a strong cash position which has underpinned the rollout of the company’s strategic initiatives. I have every confidence that Mark and the board will continue this work.”
Mr Phare said: “David has implemented a number of positive and successful changes in recent years that have made Teignbridge a stronger brand in the global propulsion market. We invested $1.0m USD last year in new CNC lathes to enhance our capabilities and just before Christmas we moved into our newly built $1.5m USD offices.
"I look forward to developing the established strategy with my fellow directors and continuing with the purchasing of new machinery to further enhance our capabilities. We will be turning the previous office space in the main factory building into additional manufacturing space which will include a designated area for training our team of apprentice engineers.
"A further new building is already underway at our Newton Abbot headquarters as we continue to invest in the future. The outlook for Teignbridge is extremely positive.
"We have a unique arsenal of highly qualified, experienced and skilled people supported by pioneering software, modern technically advanced machinery and our own test boat. Our focus is on innovative product development, designing and manufacturing highly efficient propulsion systems and customer service excellence.”
Mr Phare began his career as a Deck Officer in the Merchant Navy, studying at Plymouth University up to Master Mariner and serving for 11 years on a wide range of merchant vessels across the globe.
He then joined Caleb Brett (Intertek) for a total of 14 years as a Marine Surveyor and then Operations Manager before moving to Teignbridge in 2003. He has held several senior management roles within the Company.
Mark is now responsible for all the Teignbridge Group Companies including the UK Headquarters in Newton Abbot, the Foundry and Factory in India, the Sales Office, Workshop and Warehouse in Dubai and the Sales Office in Penang.
Torbay Weekly Newsletter
Join the newsletter to receive the latest updates in your inbox.