Ferretti Group CCO steps down
Italian boating giant Ferretti Group has announced a change in its management structure. Stefano de Vivo, who has been with the company for over a decade, will step down from his roles as chief commercial officer of Ferretti Group and managing director of Wally.
De Vivo will assume a new role as CEO at his own family office, starting 1 November. He will continue to be involved with the Ferretti Group as a technical consultant for the development of Wally Sail, utilising his expertise in the sector.
In a statement, Ferretti Group acknowledged Stefano de Vivo’s contributions to the expansion of the Wally brand, known for its innovations in yacht design and technology.
The company says De Vivo’s ongoing consultancy role with Wally Sail aims to ensure continuity in the brand’s development, maintaining the standards that have characterised Wally in recent years.
The news comes after Ferretti Group published its consolidated financial results for the first half of 2024, showing an increase in both growth and profitability.
In the first six months of 2024, Ferretti Group reported net revenues of €611m from new yacht sales, representing a 7.7 per cent increase compared to the same period in 2023. The company also reported an adjusted EBITDA of €96.7m, which reflects a 15.9 per cent increase year-over-year. The EBITDA margin for this period was 15.8 per cent, the highest in the company’s history.
