The Ferretti Group named Italo Valenti as its new chief financial officer.
The group said Valenti's appointment is part of a project to further grow and develop the organization on a worldwide level by reinforcing its managerial structure.
Valenti, 49, graduated in economics from Bocconi University in Milan. His career path included roles of increasing responsibility in major multinationals such as ABB and Beretta before he took on the role of CFO at Ferrari in 2009.
Valenti will report directly to Ferretti Group CEO Ferruccio Rossi.