Ferretti Group appoints new Chief Executive Officer

Ferretti Group, founded in 1968 by Ferretti brothers as a family shipyard, has become one of the world leaders in design, construction and sale of premium yachts, and currently operates seven Italian shipyards: CRN, Custom Line, Ferretti Yachts, Pershing, Riva and Wally

At present, the majority shareholder of Ferretti Group is Chinese industrial conglomerate Weichai Group. The next largest shareholder is the Czech investment company KKCG Maritime, which, in the three years since joining Ferretti, has already increased its stake from 5% to 23% and recently announced its plans to increase it to 29.9%. 

In recent months, the two largest shareholders have been engaged in open, public disputes over Ferretti Group policy, with significant differences of opinion on both development strategy and management. Both proposed their own list of management candidates: KKCG Maritime wanted to retain Alberto Galassi as CEO but replace Weichai executives on the board, while the other side advocated for Alberto Galassi's resignation. 

The situation was further exacerbated by the resignation of two board members, Piero Ferrari and Stefano Domenicali, the day before the crucial shareholders' meeting. They had both expressed clear support for KKCG Maritime. Ferrari, who had chaired the group's product development committee for many years and owned 13.2% of the shares, accompanied his resignation with a high-profile public letter expressing his disappointment and dissatisfaction with the Ferretti Group board of directors. 

During the vote at the annual shareholders' meeting in Milan on May 14, 2026, over 52% of the votes were cast to retain Tan Ning as Chairman of the Board of Directors. Nine other members were also appointed to the board of directors and are to hold their positions until December 31, 2028.

The very next day, Weichai's nominee, Stassi Anastasov, was confirmed as the new CEO of Ferretti Group. 

A native of Bulgaria and a dual Swedish and Swiss citizen, Anastassov spent most of his career in FMCG companies (home appliances and batteries). He served on the boards of technology companies in China and France, spent thirty years working for Procter & Gamble worldwide, rising to become strategic advisor to the CEO for global asset sales, and, before joining Ferretti, was president and CEO of Duracell. 

Addressing the shareholders, Tan Ning expressed his gratitude to Alberto Galassi for the accomplishments during his 12 years in office. He also assured them that the new board of directors represents continuity, stability, and growth, and is committed to continuing the course outlined in 2012. 

Stassi Anastassov has made an official statement, too: “It is an honour to be appointed Chief Executive Officer of a unique company built on extraordinary brands, exceptional craftsmanship and talented people. Italy is and will remain the heart of Ferretti Group. Our responsibility is to protect and strengthen that heritage while continuing to develop the Group as a truly global leader in luxury yachting. Our commitment is first and foremost to the strength, stability and long-term success of the Company. By serving the business well, we serve all shareholders, employees, customers and partners who contribute to Ferretti Group’s future.” 

Alberto Galassi has not yet given any comments on his resignation at the time of publication of this material.