June 28, 2007
Sometimes, when the principal of a business passes away, that can mean the end of the business. After all, the business was built by the principal, with his or her ideas, visions and dreams. What can bring even more uncertainty is when the principal's name is on the business. But with some foresight and preparations, it doesn't have to turn out this way. Case in point: Tom Fexas Yacht Design.
Tom Fexas, a leader in the yacht design industry with noted works such as the Palmer Johnson M/Y Time and the Midnight Lace line that is experiencing a resurrection, passed away in November. He had been ill for several years, with significantly failing health in October from a rare bone-marrow cancer.
Regina Fexas, Tom's wife of 20 years, said that despite his illness, he came to the office in Stuart, Fla., at least a few hours a day, keeping a hand in the design aspects while she ran the "office-side," as she is not a designer herself. But therein lies the secret: over the past year, Fexas had been passing on and transitioning his knowledge and business prowess to his team of designers and architects, with Chief Designer David Glasco assuming the lead position of the company and Regina Fexas as owner.
Glasco, a nine-year firm veteran, deals with everything related to new orders and revisions, modifications and custom work, and maintains customer-facing aspects. Regina Fexas handles everything non-yachting related.
Glasco parses the work among design team members, including Wyatt Huggins, Nicholas DiMatteo and Rogerio Kovalski.
Between these four, there is more than 50 years of experience at TFYD alone, not to mention design experience before joining the firm. The longest tenure goes to DiMatteo, having joined Fexas in 1985, with Huggins and Kovalski around for 20 and six years, respectively.
These men know Fexas' way of designing, what needs to get done for each job, and the expectation the name they serve under demands.
"When Tom passed, our customers were not worried," Glasco said. "They know the work goes on with the same expertise as before."
And on it goes. Glasco said they have a good book of work currently, with more coming in. And it's not just new orders, although several are in progress, including a 55-foot motoryacht ordered by a repeat customer, a 64-foot sportfish being completed and a 24-meter to be built in Europe.
A good portion of their business is changing existing hulls, either for new engines that may need new mounts or weight recalculations, hull extensions or other changes.
"There are over 1,000 Fexas-designed yachts in the water worldwide," Regina Fexas said. And most Mikelson Yachts, designed by Fexas, are semi-custom, keeping the team busy with each order.
The firm can rest on its laurels a little. Still in its possession are more than 100 original designs that can be built again or used as a foundation for a new yacht. Add to that the countless drawings of many yachts, including the original Midnight Lace ink drawings from the 1970s, and the fact that the firm has designed vessels from 26-foot tenders to 130-foot motoryachts, there is plenty for a discerning owner to choose from.
Regina Fexas' plans are to follow the traditions.
"We're going to keep the firm going as long as we can," she said. "It's working very well and we will keep Tom's work going on."
Contact Capt. Tom Serio through editorial@the-triton.com .
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