The Ferretti Group, one of the world leading companies in designing and building luxury motor yachts and sporting boats, has selected Gabriele Del Torchio as new Chief Executive Officer of the Group. Mr Del Torchio will succeed Giancarlo Galeone, current Vice Chairman of the Ferretti Group, as from 1" July 2005.
Born in Varese, 54, with two children and a degree in Economics, Mr Del Torchio is currently CEO of
Carraro, a world leading company in transmission systems, which is listed on the Italian Stock Exchange. He has previous work experience in top managerial positions in important international groups such as CIFA
and New Holland, a world leading manufacturer of agricultural machinery, and has also held the office of
Chairman and Chief Executive Officer of APS, a multi-utility company based in Padua. The appointment of Mr Del Torchio is part of the plan to enhance the growth of the Ferretti Group. This
project provides an articulated plan regarding international expansion and consolidation of the competitive
position achieved, and furthermore the re-listing on the Stock Exchange in the medium term, as already
announced in the strategic program presented during the de-listing of the Company. With approx. 2,500 employees, excluding side-line businesses, and a surface area of over 488,000 square
meters (indoors and out), 16 shipyards in Italy and 1 in the United States, the Ferretti Group forecasts
closure of the nautical year 2004/2005 with a consolidated turnover of over 600 million Euro, showing an
increase compared to the 557 million Euro of the previous year, and EBITDA value of approx. 90 million
Euro, showing an increase compared to the 83 million Euro registered at 31S` August 2004. Forli, June 2005
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