Ferretti Group appoints Alberto Galassi as new CEO

by Ferretti Group on 30 May 2014 The Board of Directors of the Ferretti Group, as convened by Chairman Tan Xuguang, who also heads the Weichai Group, has named Alberto Galassi to be Ferretti’s new Chief Executive Officer. Mr. Galassi replaces Ferruccio Rossi effective immediately.

This change at the top is part of a consolidation/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 goal is to secure new positions in 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 essential support of the Weichai Group, the majority shareholder in the Ferretti Group since 2012. Weichai has been of crucial importance with its contributions of equity support and new distribution channels.

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 of 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, its boat owners and its entire workforce'.