Ferruccio Rossi has been unanimously selected as the new Managing Director by the Board of directors chaired by Ferretti Group Chairman Tan Xuguang. Replacing Giancarlo Galeone finishing his mandate following CEO Salvatore Basile’s unexpected death, Ferruccio Rossi has been working for the Group as Riva Managing Director as well as Ferretti Group Country Manager since 2005.

Ferruccio Rossi has been selected as the new Managing Director of the Ferretti Group - Credit Ferretti S.p.A

Furthermore, Norberto Ferretti becomes the Honorary Chairman. Chairman Tan and Norberto Ferretti, even on behalf of the entire Group, thank Giancarlo Galeone for the important contribution he has always given to the Ferretti Group through his know-how and professionalism.

These appointments will ensure the most absolute continuity to the Ferretti Group in the course of a further development that started after the power acquisition by SHIG-Weichai Group. SHIG-Weichai GROUP will closely cooperate with Ferretti Group, ensuring new distribution channels, financial support and other resources with the objective to support the Group at the international level, with particular reference to emerging markets.

SHIG-Weichai Group, the Royal Bank of Scotland and Strategic Value Partners, Norberto Ferretti, the Administrative Council, the Executive Council, express their great satisfaction for the appointment of Ferruccio Rossi, a man of undoubted merit, with a strong financial talent and a tested experience in the nautical sector, which represents an important choice that will guarantee the Group to consolidate its leadership in the nautical sector and to continue in a process of growth that has characterized its 42 years of history.

“We would like to particularly thank Norberto Ferretti, the Group’s Founder, for the extraordinary contribution to the management. I am glad that Norberto will continue his work with passion, in order to assure our brands’ leadership in the luxury nautical sector at an international level”, said Tan Xuguang, SHIG-Weichai Group Chairman and Ferretti Group Chairman.

“As the Honorary President, Norberto will continue to represent the Group in all its activities with his incomparable experience and charisma. 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.”

“I strongly believe that Ferruccio Rossi’s appointment will mark an important phase in the Ferretti Group history: indeed, Ferruccio will put it great energy and passion and will engage himself in this new position thanks to his well-attested experience and qualities which make him the most suitable person for this role”, said the Honorary President and Group’s Founder, Norberto Ferretti.

“I would like to take this opportunity to thank, besides the Administrative Council, all those working for the Ferretti Group as well as the strategic partners for their solid support and devotion shown over the years. I would also like to thank all the Executive Committee members, starting from Giancarlo Galeone, for his great support during our critical period, since it would have been impossible to succeed without the complete support given by the all team.”

“I sincerely thank the Chairman, the Administrative Council, Weichai SHIG-Group and all the shareholders because they entrusted me with this appointment. My objective will be to continue together the process of growth undertaken by the Group during these years that will further continue thanks to Weichai SHIG Group’s precious contribution”, said Ferruccio Rossi, Ferretti Group Managing Director.

“I would like to thank all those working for Ferretti Group, our strategic partners, our suppliers and our customers. My objective is to create a future of further success. I would also like to thank Giancarlo Galeone for his enormous contribution, offering professionalism, his abilities and devotion to the Ferretti Group during the restoration phase which was completed successfully.”

A short biography of Mr. Tan Xuguang Rossi and Mr. Ferruccio Rossi

Tan Xuguang, Chairman of Ferretti Group

Tan Xuguang, Chinese, was born in 1961, senior economist and doctor of engineering.

Mr. Tan joined Weifang Diesel Engine Factory in 1977 had held various positions including chairman and chief executive officer of Shandong Weichai Import and Export Co., Ltd.; assistant chief executive officer, vice executive officer and chief executive officer of Weifang Diesel Engine Factory; chairman of Torch Automobile Group Co., Ltd, etc.

Now he is the chairman and Chief Executive Officer of Weichai Power Co., Ltd., chairman of Weichai Group Holdings Limited, and Chairman of Shandong Heavy Industry Group Co., Ltd. At the same time, he also serves as the vice chairman of China Enterprise Confederation and China Internal Combustion Engine Industry Association.

He was appointed as a Representative of the Tenth and Eleventh National People’s Congress of the PRC and was honored “National Labor Model”, “China’s Outstanding Entrepreneurs”, “the Gold Award of the 4th Yuan Baohua Enterprise Management”, “CCTV 2005 China Economic Annual Figure” and “CCTV 2010 China Economic Annual Figure”.

Ferruccio Rossi, Ferretti Group Managing Director

Ferruccio Rossi took his degree in Business Economics at “L. Bocconi” University in Milan in 1995. In 1999 he attended the Business Financial Program at the London Business School. From 1995 to 1998 Ferruccio Rossi worked as Consultant for the KPMG Consulting, gaining experience from several industrial sectors. In 1998 he was member of Investment Banking Team of ING Barings and in 1999 he became the Manager of Investment Banking Team of JP Morgan Chase &Co., coordinating a lot of fusion and acquisition operations.

From 2001 to 2005 Ferruccio Rossi was the manager of Permira firm in Milan. Here he worked in the field of investments evaluation, administrating societies that allocate public services. Furthermore, he was a member of the Ferretti Administrative Council and of Grandi Navi Veloci S.p.A. From 2005 to nowadays he was the General Manager for Riva and he became the Managing Director in September 2006. Before his new appointment as Ferretti Group Managing Director, he occupied the role of Ferretti Group America Country Manager.