Ferretti Group Appoint Alberto Galassi As CEO

Taking part of a consolidation and re-launching plan which is focused on the conception and construction of a brand-new range of luxury yachts – as well as the implementation of new business and marketing strategies - Mr. Alberto Galassi will replace Ferruccio Rossi effective immediately.

In October 2013, Mr. Galassi joined the Board of Directors of the Ferretti Group and has today become its Chief Executive Officer.

The goal is to secure new positions on international markets, made possible by the Ferretti Group’s support from the Weichai Group, the majority shareholder since 2012.

To show its determination in ensuring the worldwide growth of the Ferretti Group, 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.

“I’d like to thank President Tan Xuguang and the Weichai Group for the trust they have placed in me by appointing me to a position with such great responsibility”, said new Chief Executive Officer Alberto Galassi. "The Ferretti Group stands for Made in Italy excellence around the world, in a sector where style and technology are combined to achieve a synthesis of craftsmanship, innovation and beauty.

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 of 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”.