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Weichai Group wins Ferretti board vote as Galassi exits

Ferretti shareholders backed China's Weichai Group in a board vote ending CEO Alberto Galassi's tenure. Czech investor KKCG is now appealing the decision.

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Weichai Group won a shareholder vote at Ferretti on Thursday, ousting CEO Alberto Galassi after a 12-year tenure. The Chinese industrial giant secured 52% of the vote to install a new board led by incoming CEO Stassi Anastassov. The victory ends a governance battle with Czech investor KKCG, though legal challenges regarding Italian national security rules persist.

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