Fabio Ermetto Appointed CCO of Azimut Benetti

At 42 years old, Fabio Ermetto has worked in the yachting industry for over 15 years, specialising in the world of superyachts. In his new role, Mr Ermetto will be responsible for further enhancing the prestige and commercial development of Benetti, particularly in markets with a high growth rate.

Fabio Ermetto will be handing over the Executive Chairmanship of Fraser Yachts, having redefined its set-up and organisational structure, to Roberto Giorgi.

Mr Giorgi has held a seat on the Group's Board of Directors, and has served as Honorary President of V. Ships, in which he gained a unique experience in the naval and nautical world, launching and managing the Leisure and Ship Management divisions. In his new role, Mr Giorgi will execute Fraser Yachts' growth strategies and coordinate its top managers. His objectives also include developing internal talent and identifying the next CEO.

These appointments form part of the company's current strategic development plan. Mr Ferruccio Luppi, CEO of the Azimut|Benetti Group, has said of the new organisational structure: "We are extremely pleased with these new appointments, which show that over the years the Group has been able to attract top-level professionals into key roles with a view to pursuing our latest strategies. I'm sure that Fabio Ermetto's appointment will infuse new energy and enthusiasm into the Benetti sales team, which is already acknowledged worldwide for its expertise.

I also wish to thank Mr Giorgi for sharing his unique expertise in the nautical industry with the Azimut|Benetti Group, and in particular with the Fraser Yachts brand, in order to pursue our strategic objectives for the next three years."