Ferretti shareholders to vote as KKCG, Weichai clash over board control

Ferretti SpA

14/05/2026 09:25

MILAN, May 14 (Reuters) - Ferretti's two top shareholders, Czech investment firm KKCG Maritime and China's Weichai Group, will contest control of the yacht maker's YACHT.MI board at its annual meeting on Thursday, having each submitted rival slates of candidates.

KKCG Maritime wants to confirm CEO Alberto Galassi, who has headed the group since 2014, in his post and reshape a board currently dominated by representatives of Weichai. The latter has put forward former Procter & Gamble executive Stassi Anastassov to take over from Galassi.

The list that secures the most shareholder votes will appoint all but one board member.

Earlier this year, KKCG Maritime raised its stake in Ferretti to about 23%, while Weichai holds around a 39% stake in the group.

KKCG Maritime said on Wednesday it had notified the government of possible breaches of Italy's so-called "golden power" rules, after Italian business daily MF reported that China-linked investors had stepped up share purchases in the yacht maker.

It was not immediately clear whether Ferretti and its current shareholding structure fall under Italy’s “golden power” system, however, which gives Rome the right to veto or set conditions on corporate deals involving companies deemed strategic to national security.

Ferretti controls seven different yacht brands, including Riva and Wally. It also has a small security division producing patrol vessels, which the company has deemed non-core and sought to sell.

KKCG Maritime’s chairman told Reuters two weeks ago that the group aims to expand in defence, adding that he sees the yacht maker as a potential "consolidator" in the leisure boating market.

(Reporting by Elisa Anzolin; Editing by Hugh Lawson)

((elisa.anzolin@thomsonreuters.com; 0039 0266129692;))