Giancarlo Galeone, Ferretti Group shareholder and director, has been appointed CEO of the company following the recent passing of Salvatore Basile.

Galeone first joined Ferretti in 1991, rising to CEO in 1995 and holding this position until 2005 when he became vice-chairman in 2006. As of July 2009, he worked closely with Basile on the Board of Directors in defining Ferretti’s reorganisation and relaunch plan, sharing the same vision and strategies.

“At a time of such sorrow for our group, which shares the profound grief of Mr Basile’s wife and family, the appointment of Giancarlo Galeone will guarantee the best company and strategic continuity for Ferretti Group,” says company chairman and founder Norberto Ferretti.

“Giancarlo Galeone’s in-depth experience of the nautical sector, the fact that he totally embraces the strategic lines of the relaunch and development plan we have been implementing over the past few years, and his comprehensive knowledge of the Ferretti Group will assure a decisive contribution to the development of our projects over the next few years.”

The Ferretti Group designs and builds motoryachts under the Ferretti Yachts, Pershing, Itama, Bertram, Riva, Mochi Craft, CRN and Ferretti Custom Line brands.