The Azimut Benetti Group created the position of CEO and named Ferruccio Luppi to fill the role.
The decision that Azimut president Paolo Vitelli made was with full support of the board and is part of the company’s recently adopted strategic development plan.
Luppi was a close collaborator with Fiat CEO Sergio Marchionne during the relaunch of the automotive group. He will help implement the three business lines of the group — yachts, megayachts and Yachtique. He will report directly to Vitelli.
"I am convinced that the human and professional qualities of Ferruccio Luppi, along with the commitment and passion of all my collaborators, starting from CEOs of the business line, and the continuity of my presence as president and main shareholder of the company, will allow [us] to better express the enormous capabilities of our group, which must continue to maintain the market leadership that belongs to the company since the beginning," Vitelli said in a statement.