Weichai wins Ferretti 52-47, Komarek sues to overturn the vote
Weichai holds the board, Galassi is out
On 14 May, shareholders in Ferretti Group backed a board slate put forward by Weichai, the Chinese industrial group that is Ferretti's largest owner with about 39.5 per cent. Reuters reported the Weichai list took roughly 52 per cent of the vote against about 47 per cent for a rival slate from KKCG Maritime, the vehicle of Czech billionaire Karel Komarek, who had built his holding to about 23 per cent through a partial tender at 3.90 euros a share. The result ended Alberto Galassi's 12-year run as chief executive. Stassi Anastassov, a former Procter and Gamble executive, was named CEO, with Tan Ning of Weichai as chairman. Piero Ferrari and Stefano Domenicali stepped down from the board on the day of the vote.
Ferretti is a group of seven brands: Ferretti Yachts, Riva, Pershing, Itama, CRN, Custom Line and Wally, the last taken into full ownership earlier this year. Whoever controls the board sets capital allocation, model programmes and yard investment across all of them. For an owner already in build, or weighing a new order at any of those yards, the near-term question is continuity, because a new chief executive and chairman inherit an order book and a delivery calendar that predate them.
The fight moves to a Bologna courtroom
KKCG did not accept the outcome. In June it filed at the Civil Court of Bologna seeking an emergency suspension of the newly installed board and of Anastassov, according to Ferretti and coverage in SuperyachtNews and Marine Industry News. Komarek's group argues that Weichai's votes should have been frozen under Italy's golden power law, Decree-Law 21 of 2012, because a Ferretti division builds patrol and security craft for the Italian navy, the carabinieri, the coast guard and the police, and because Weichai did not notify Rome of its holding as the rules require. The Italian government has its own review under way. Industry minister Adolfo Urso confirmed that Ferretti itself asked Rome to activate golden power procedures, and the relevant committee is examining whether to intervene to protect Italian technology.
Ferretti has said it will safeguard its rights with legal advice and that operations continue normally, and Anastassov told staff the group would keep its Italian identity. Both sides are stating their case, and no court or government decision had been issued as of mid-July. For a buyer, the practical point is the overhang itself. Until the Bologna court rules on the suspension request and Rome decides whether to use golden power, the identity of the group's controlling board is contested rather than settled.
What owners and buyers should watch
The battle lands on a softer market. Ferretti reported first-quarter 2026 revenue down 8 per cent to 302 million euros, with quarterly order intake off 33.6 per cent to 179.6 million euros, while the total order backlog held near 1.718 billion euros. The company guided full-year revenue of roughly 1.25 to 1.265 billion euros. The trading business is still large and still building, even as fresh orders slow and the ownership question runs through the courts.
For an owner mid-build, the backlog and existing contracts are the anchor, because deliveries and warranties sit with the operating companies rather than with whichever shareholder wins the vote. For a prospective buyer, the sober read is to separate the yacht from the boardroom. Ask the yard to confirm slot dates, milestone payments and the delivery guarantee in writing, and track two dates that are outside Ferretti's control: the Bologna ruling on KKCG's suspension request and any golden power decision from Rome. Both could shape who steers Riva, Pershing and CRN next.