Anastassov, no plan to move Ferretti production to China

The rumors surrounding Ferretti, from managers leaving the company to conflicts between shareholders to the fear that production will move to China, push the CEO Stassi Anastassov to put a point: 10 questions and 10 answers, in a letter to his first line of managers and a reminder to "not make excuses" in a second letter to all employees.

"There is no plan to move the production of Ferretti yachts to China" is a firm point. "Italian design, Italian craftsmanship, Italian production" and recalls the recent investment in Ancona where the shipyards obtained authorization to expand the capacity to build superyachts from 90 to 100 metres, with greater production capacity and more opportunities for Italian suppliers. On the Tisg match, in which Ferretti did not participate, he recalls that "every acquisition must make sense: strategy, brands, price, risks, economic return and people. Saying no to an operation does not mean saying no to Italy". Equally explicit is the answer on who is in charge: "The board of directors governs; the management manages in the interests of the company and all the shareholders" i.e. Weichai which holds approximately 39.5%, Kkcg approximately 23.2% and the minorities. “Shareholder disputes will not dictate our strategy,” he clarifies, “I answer to the Board, not to an individual shareholder.

And in my head I have three bosses: our customers. our people. our business" replies Anastassov. The exit of the managers, already four (Niccolò Pallesi, Matteo Cecada, Enrico Sgarbi, Margherita Sacerdoti), is linked to "several changes and the suppression of some positions, part of a precise plan".

Anastassov is redesigning the internal organization: "We are eliminating layers, simplifying decisions and giving more autonomy to people." It seems that he has found a 'plastered' company because once again he reiterates "too many hierarchical levels, too many authorizations, too many good ideas left standing still" while "faster decisions. Better execution" are needed. "We are strengthening Sales, Marketing and After Sales, especially in the United States, the Middle East and Asia; we are improving Purchasing, Finance, systems and internal controls" he underlines.