This in from the office of Aberdeen Asset Management Cowes Week. In their own words. Ed
Cowes Week Limited (CWL) has recently undertaken a review of its operational structure as part of an ongoing commitment to ensure that the event continues to operate in the most efficient way and maintains its attractiveness to both competitors and sponsors.
At the suggestion of Stuart Quarrie, CWL’s CEO, a working party, consisting of the Chairman, CEO and four other directors, was set-up to evaluate alternative options for the management of the event.
Future challenges
A key driver for the working party was to ensure the roles and responsibilities of a future management team would reflect the challenges that the regatta needs to meet over the next 5‐10 years – specifically:
a) Enhancing the event’s flexible, high-quality racing programme to attract new classes and sailors as well as retaining the event’s existing competitor base;
b) Attracting sponsorship investment to ensure Cowes Week maintains its leading position among the world’s sailing regattas as a must-do event; and
c) Keeping a tight focus on CWL’s finances as the event navigates through the current difficult economic times.
‘Flatter’ structure favoured
After examining a range of options, the working party concluded that a flatter structure, served by a management team reflecting the key priorities for the regatta and supported by a robust administrative unit, represented the most cost effective evolution of the CWL operational structure.
As a result, after the 2013 event the current CEO-led hierarchical management structure will transition to an Executive Management Team consisting of a Sailing Director, Sales & Marketing Director and Finance Director, led by the Chairman of CWL. Additional resource will also be established for administrative support. The existing sailing committee, shore-side committee and finance committee will continue to operate in the same way they currently do, as will the CWL Board, which has overall responsibility.
Unanimous support
The new structure has received unanimous support from the boards of CWL and Cowes Combined Clubs Limited. Peter Dickson, Chairman of CWL, said: “Cowes Week is a well respected, world-class sailing regatta, widely supported by the sailing fraternity, our sponsors, and stakeholders. We are always looking to the future and making refinements to ensure the event is the best it can be. This latest chapter in our evolution will provide focus to the key areas and present a more efficient management structure while retaining the established governance model for the member clubs.”
CWL is delighted that Stuart Quarrie has agreed to take on the new role of Sailing Director from September 2013, when he will step down from his current role as CEO. Stuart’s expertise and experience of the Cowes Week racing organisation will provide a safe pair of hands as the company transitions to the new operational model.
