Forlì, Italy, 08 January 2014 – Ferretti Group, one of the global leaders in the design, construction and sales of luxury motor yachts, with a unique portfolio of prestigious brands that are among the most exclusive in the world boating industry, today announces that Italo Valenti is to be the Group's new Chief Financial Officer.

Valenti's appointment is part of a project to further grow and develop the Group on a worldwide level, by contributing to further reinforcement of the managerial structure.

Italo Valenti, 49, graduated in Economics from Bocconi University in Milan. His career path included roles of increasing responsibility in major multinationals such as ABB and Beretta, before taking on the role of Chief Financial Officer at Ferrari in 2009.

Valenti will report directly to Ferruccio Rossi, Chief Executive Officer of the Ferretti Group.

“We extend a warm welcome to Italo Valenti, wishing him all the best in his new position. We are sure we will enjoy great success together,” Ferruccio Rossi, the Group CEO, stated. “The appointment of Italo Valenti, who will bring his valuable experience in Ferrari to the ‘Ferrari of the seas’, Ferretti Group, is part of our project to further strengthen our organisational and managerial structure which began when the Weichai Group came in as shareholder. Thanks to his proven experience in major multinationals, I am sure that Valenti will make a significant contribution in this important phase for the growth of our company and for our future projects.”