Business
Ferretti S.p.A. Shareholders Elect New Board of Directors at Annual General Meeting; FIH and Weichai Group Reaffirm Full Support for the Company's Future Development
Ferretti S.p.A. Shareholders Elect New Board of Directors at Annual General Meeting; FIH and Weichai Group Reaffirm Full Support for the Company's Future Development
About this update from Ferretti S.p.a.
HONG KONG and MILAN, June 5, 2026 /PRNewswire/ -- The Annual General Meeting of Ferretti S.p.A. (HKEX stock code: 9638; Euronext Milan stock code: YACHT) ("Ferretti" or the "Company") was successfully held on 14 May 2026. At the meeting, shareholders approved by majority vote the slate of board nominees submitted by Ferretti International Holding S.p.A. ("FIH"), electing a new Board of Directors.The new Board comprises nine directors, including executive, non-executive and independent non-executive directors, one of whom was elected from the minority shareholders' slate. Mr. Tan Ning has been appointed as Chairman of the Board, and the Board has subsequently appointed Stassi Anastassov as Chief Executive Officer of the Company, with immediate effect. The members of the Board bring extensive experience across yachting and precision manufacturing, brand management, industrial operations, international management, investment and M&A and capital markets, and reflect a strong commitment to diversity, independence and gender balance.In the period since the Annual General Meeting, the new Board has completed an orderly transition and is now fully operational, and the Company's day-to-day business has continued in a stable and orderly manner. FIH again expresses its sincere appreciation to all shareholders for their trust and support.Long-Term Shareholder Commitment and SupportSince investing in Ferretti in 2012, FIH and its parent company, Weichai Group, have provided sustained industrial and capital support, helping the Company weather a challenging period, restore stable operations and complete dual listings in Hong Kong and Milan. With the new Board in place, FIH will remain a long-term strategic investor, leveraging Weichai Group's industrial experience and global resources to help Ferretti build on the strengths of its Italian production base, shipyard operations and manufacturing know-how, while further reinforcing the brand's reputation for engineering excellence, product quality and Italian craftsmanship.Governance and Strategic DirectionFIH believes that, with the new Board in place, the Company's governance framework will be further strengthened, with more open and efficient decision-making and enhanced communication with shareholders. FIH will support management in shaping a sound medium to long term business strategy, continuing to optimise its capit...