Business
Ferretti shareholders file rival board slates ahead of May 14 showdown
Ferretti shareholders file rival board slates ahead of May 14 showdown
About this update from Ferretti S.p.a.
The two largest shareholders of Ferretti MIL:YACHT on Monday filed rival slates of candidates for the renewal of the Italian yacht maker's board, setting the stage for a battle at the company's annual meeting on May 14.Czech investor KKCG Maritime submitted a list of nominees including KKCG's founder Karel Komarek for president and proposing to confirm Alberto Galassi as chief executive.The Czech firm, which last month increased its stake to around 23% of Ferretti's capital, said it wanted to overhaul the firm's board, currently dominated by representatives of China's Weichai Group which has a 39.5% stake.Weichai's slate contains no explicit nominee for the chief executive role, and proposes Tan Ning as chair.