The board of directors of the Ferretti Group, as convened by Chairman Tan Xuguang, who also heads the Weichai Group, has announced Alberto Galassi as Ferretti’s new chief executive officer. Galassi replaces former CEO, Ferruccio Rossi, effective immediately.

“This change at the top is part of a consolidation and relaunching plan that is focused on the conception and construction of a new range of products, as well as on the implementation of new business and marketing strategies,” the group has stated. “The goal is to secure new positions on international markets and thus confirm the role played by the boats made by the group as ambassadors of ‘Made in Italy’ technology and style.”

The new endeavour is being made possible by the support of the Weichai Group, the majority shareholder in the Ferretti Group since 2012. The Weichai Group has decided to offer a shareholders’ loan of 30 million euros that is immediately available and can be converted into an increase in capital in the future.

Alberto Galassi, Ferretti Group's new CEO.

“I’d like to thank Mr. Xuguang and the Weichai Group for the trust they have placed in me by appointing me to a position with such great responsibility,” says Galassi. “We are confident that our brands and products, in whose development the shareholders have made a major investment, will appeal to the taste and gain the trust of the discriminating boat owners who are already a part of the Ferretti tradition, as well as new owners who are taking their first steps into the world of boating. It is with great enthusiasm that I am placing my commitment, my experience and my great passion for boating at the disposal of the Ferretti Group, of its boat owners and of its entire workforce”.

Profile links

Ferretti SpA

If you've found this story to be 'a report worth reading' and you would like to enjoy access to even more articles, insight and information from The Superyacht Group, then you may well be interested in our print subscription packages, which include the most comprehensive and up-to-date information on the state of the superyacht market. Subscribe here, to these 'Reports Worth Paying For'