Ferretti Group CEO Salvatore Basile passed away suddenly after suffering a heart attack on Sunday. He was 58. The group released the following statement:
“The entire Ferretti Group team, chairman Norberto Ferretti, the board of directors and the executive committee, deeply shaken by his premature death, share the sorrow that Mrs Basile and family bear. He will always be remembered for the great love he had for his work, his strategic vision and strong, sensitive personality, qualities he managed to convey instantly to all group employees, with enthusiasm, motivation and strength.”
Italy’s Ferretti Group is a leader in the design, construction and sale of luxury motor yachts. Its brands include: Ferretti Yachts, Pershing, Itama, Bertram, Riva, Mochi Craft, CRN and Ferretti Custom Line.
The Ferretti Group is also in Asia, with a branch of representation and promotion in Shanghai, as well as in the United States with Allied Marine.
Basile began his career in the late 1970s and worked for companies including ZF, Saeco, De Longhi and Baxi. He was appointed CEO at Ferretti Group in 2009 and managed the group’s re-organization and re-launch project, during a turbulent time for the company, which had been left with a debt burden of over €1 billion following a private equity takeover in 2006.
Privé Group extends its deepest condolences to Basile’s family and colleagues.