Skip to main content

Ferretti Group names new chairman

The Ferretti Group announced that it appointed Tan Xuguang as group chairman, replacing Norberto Ferretti, who becomes honorary chairman.

Ferruccio Rossi was appointed as the new managing director of the Italian luxury yacht builder.

Xuguang is chairman and CEO of Weichai Power Co. Ltd., chairman of Weichai Group Holdings Ltd. and chairman of Shandong Heavy Industry Group Co. Ltd. He also serves as vice chairman of the China Enterprise Confederation and the China Internal Combustion Engine Industry Association.

Rossi, who has been working for the group as Riva managing director and Ferretti Group country manager since 2005, will replace Giancarlo Galeone, who has ended his mandate after CEO Salvatore Basile's sudden death.

Shandong Heavy Industry Group-Weichai Group announced in January that it reached agreements with the major creditors of the Ferretti Group to acquire a controlling interest in Ferretti by participating in Ferretti’s debt restructuring.

"We would like to particularly thank Norberto Ferretti, the group's founder, for the extraordinary contribution to the management,” Xuguang said in a statement. “I am glad that Norberto will continue his work with passion in order to assure our brand’s leadership in the luxury nautical sector at an international level.

“As the honorary president, Norberto will continue to represent the group in all its activities with his incomparable experience and charisma,” Xuguang added. “Weichai SHIG-Group confirms his commitment and his pursuit for the Ferretti Group expansion in Europe, America and Asia Pacific, namely international excellence and leading role in the nautical sector."

Click here for the full release.

Related

1_ABA

ABA Celebrates 30 Years

The America Boatbuilders Association was founded in 1992 with the objective of collectively buying engines, raw materials and manufactured products at better prices.

1_YEARGIN

Who, Not How

Sometimes, to solve a tough problem, you need to get a different person in the room.

1_WHALESACTION

NMMA: Proposed Speed Rule an ‘Existential Threat’ to Industry

The association is calling on every marine brand, employee and boat owner to file public comment by Oct. 31 over a sweeping regulation to protect North Atlantic right whales.

1_AXOPAR

Axopar and Nimbus Renew Agreement

The boatbuilders have entered an agreement whereby Nimbus Group will retain exclusive rights to sell Axopar boats on the Swedish market.

1_IAN

Hurricane Ian Leaves Devastation in Florida

The storm left a wide swath of destruction, heavily impacting marine interests from Tampa Bay to Marco Island.

Norm

Email Is Your Ticket to Holiday Sales

Developing an effective email campaign can bolster sales and help fill winter coffers at your dealership.

1_NMRA

NMRA Presents Annual Awards

Edson CEO Will Keene and ComMar Sales president Tim Conroy were recognized for their contributions to the marine industry.

1_ PULSE.PING.2

DEALERS: Are Interest Rates Impacting Demand?

This month’s Pulse Report survey asks dealers whether interest rate increases are causing a downturn in boat sales. Take the survey here.

1_EPROPULSION

EPropulsion, Mack Boring Partner with Crest

Pontoon builder Crest will use an ePropulsion Navy 3.0 Evo electric outboard motor and an E175 battery for its 2023 Current model.