6 Aug 2012

Ferretti Group announces senior reshuffle

By William Mathieson

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There have been a number of high profile appointments within the Ferretti Group.  The new group chairman has been named as Tan Xuguang, with the existing chairman, Norberto Ferretti becoming the honorary chairman. Tan is currently the chairman of SHIG-Weichai, the Chinese construction conglomerate that acquired the Ferretti Group at the end of 2011.

The Ferretti Group’s board of directors has also appointed Ferruccio Rossi as its managing director. Rossi will succeed Giancarlo Galeone – the acting MD since the death of Group CEO, Salvatore Basile in 2011. 

It is likely that the reshuffle is intended to trigger closer alignment between the operations of the superyacht builder and its parent company. Commenting on Norberto Ferretti’s move into an ambassadorial role, Tan said: “As the Honorary President, Norberto will continue to represent the Group in all its activities with his incomparable experience and charisma. Weichai SHIG-Group confirms his commitment and his pursuit for the Ferretti Group expansion in Europe, America and Asia Pacific, namely international excellence and leading role in the nautical sector”.  “We would like to particularly thank Norberto, the group’s founder, for the extraordinary contribution to the [group’s] management. I am glad that Norberto will continue his work with passion, in order to assure our brands’ leadership in the luxury nautical sector at an international level.”

Commenting on his new position, Norberto Ferretti said: “I would like to take this opportunity to thank, besides the administrative council, all those working for the Ferretti Group as well as the strategic partners for their solid support and devotion they have shown over the years. I would also like to thank all the executive committee members, starting from Giancarlo Galeone, for his great support during our critical period; it would have been impossible to succeed without the complete support given by the all team”.


Rossi, whose new position will see him spearhead the implementation of Ferretti’s strategy, bolstered by 2011’s acquisition praised the work of Galeone whilst acknowledging the need to press on ahead with the Weichai-Ferretti vision:

 “I sincerely thank the chairman, the administrative council, SHIG-Weichai Group and all the shareholders because they entrusted me with this appointment. My objective will be to continue the process of growth undertaken by the group over the years that will further continue thanks to the SHIG-Weichai Group’s precious contribution.

“I would like to thank all those working for Ferretti Group, our strategic partners, our suppliers and our customers. My objective is to create a future of further success. I would also like to thank Giancarlo Galeone for his enormous contribution, offering professionalism, his abilities and devotion to the Ferretti Group during the restoration phase, which was completed successfully.”

Related Links

Ferretti Group Website

SHIG-Weichai Website

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