Ferretti S.p.A. Elects New Board to Propel Future Growth and Innovation

In a significant move for the luxury yacht manufacturer, Ferretti S.p.A. convened its Annual General Meeting on May 14, 2026, where shareholders voted overwhelmingly in favor of a new Board of Directors. This change signals a renewed commitment from key stakeholders, particularly Ferretti International Holding S.p.A. (FIH) and its parent company, Weichai Group, who remain steadfast in their support for the company’s ongoing development.

New Leadership to Drive Strategic Vision

At this meeting, Mr. Tan Ning was appointed as the Chairman of the Board. The newly elected Board comprises a diverse group of nine directors, which includes a mix of executive, non-executive, and independent non-executive members. This composition reflects the management’s dedication to fostering a balanced and inclusive governance structure. Stassi Anastassov has taken on the role of Chief Executive Officer, bringing fresh insight and leadership to the company's operations.

The new Board members possess a wealth of experience spanning yachting and precision manufacturing, brand management, industrial operations, and capital markets. Their varied backgrounds ensure that Ferretti can leverage valuable insights to navigate the challenges of the competitive luxury yacht market effectively.

Enduring Support from Stakeholders

FIH has been intimately involved with Ferretti since 2012, providing vital industrial and financial backing during challenging times. Their support has been instrumental in stabilizing operations and achieving successful dual listings on both the Hong Kong Stock Exchange and Euronext Milan. With the new Board in place, FIH remains committed to playing a strategic role in the company’s future, utilizing Weichai Group’s extensive resources and expertise to enhance Ferretti’s heritage of Italian craftsmanship and innovative engineering.

FIH emphasizes the importance of active shareholder engagement and is committed to facilitating efficient decision-making processes while enhancing communication channels. These initiatives are expected to bolster a robust medium- to long-term business strategy, optimize capital structure, and refine dividend policies, thereby ensuring sustainable growth.

Operational Management and Priorities Ahead

With Mr. Anastassov at the helm, the focus is on sustaining Ferretti's operational continuity while fostering growth. This approach acknowledges the vital contributions of the company’s Italy-based management and workforce, who uphold high standards in manufacturing and craftsmanship. FIH expresses confidence in these teams, whose dedication is crucial in maintaining daily operations and enhancing overall business efficiency.

FIH’s ongoing support also includes improving employee incentives and benefits, creating an environment conducive to productivity and innovation. There is a shared belief that the company is well-positioned for future success, with a clear path mapped out for stable operations and the pursuit of sustainable long-term goals.

Commitment to Excellence

As Ferretti S.p.A. navigates its new chapter under the guidance of a renewed Board, both FIH and Weichai Group remain optimistic about the company's trajectory. They aim to further strengthen its market position by emphasizing the essence of luxury yachting—quality, innovation, and an unparalleled customer experience.

This transition is not just a governance change; it represents a fresh commitment to redefining excellence in the industry and building on the legacy of one of the foremost names in luxury yacht manufacturing. Stakeholders, including shareholders and employees, are encouraged by the vision laid out by the new Board, marking a promising outlook for Ferretti’s future in the luxury yacht market.