Chinese shareholder Weichai has successfully ousted management at Italian yachtmaker Ferretti after winning a shareholder vote. Weichai, which owns 39% of the luxury boat builder, secured a board victory against Czech investor KKCG Maritime, ending months of boardroom turmoil. The new board will replace CEO Alberto Galassi with former Duracell chief Stassi Anastassov.

KKCG Maritime, with a 23% stake, alleged potential breaches of Italy's golden power rules designed to limit foreign control of strategic assets. The Czech firm notified Italian officials after reports of increased Chinese share purchases ahead of the vote. This battle reflects growing tensions between local management and Chinese investors over strategy and governance.

Two directors resigned including chair Piero Ferrari, who cited frustration over the boardroom conflict. Weichai defended the management change as necessary to improve the company's performance. The victory strengthens Chinese influence over the Italian luxury yachtmaker despite concerns about governance and strategic direction.