Piero Formenti takes the helm at Confindustria Nautica following temporary resignation of Saverio Cecchi

10 May 2024 • by Dea Jusufi

Piero Formenti, previously vice president of Confindustria Nautica, has now assumed leadership of the association responsible for representing the Italian yachting industry and its supply chain. The Association's General Council ratified the appointment as per the association’s statute yesterday (9 May).

This follows President Saverio Cecchi's decision to "temporarily step away" from office following accusations of corruption. The president of Italy’s Liguria region and the former head of Genoa port have already been arrested as a result of the anti-corruption probe (7 May).

The Italian Marine Industry Association plans to continue activities without interruption and prioritise the consolidation of the Genoa International Boat Show, which reported a record number of yachts and visitors last year

Signs of an "economic slowdown" following a three-year period of unprecedented growth have also incited the association to focus on administrative simplification, flag competitiveness, regulations on new green fuels and professional training opportunities in the hopes that it will "continue upholding a competitive Italian system overall".

"I regret reading a number of comments in the press on the value of public funds provided to what is the second largest industry event in Italy and the third largest worldwide for the yachting sector," said Formenti. "Every year, the show pumps €65 million into the local economy alone and yet it remains the least financially backed sector event compared to competing events overseas."

He concluded: "For this very reason, the Italian Trade Agency’s events plan has continued to increase its support for the Genoa International Boat Show, demonstrating the growing awareness that Italy must work as a system when supporting the country’s international trade fairs. These world-class showcases are a cross-industry reference point for the Made in Italy brand. In this respect, there is still work to be done."

Formenti has held the position of vice president for two consecutive terms from 2015 to the present, representing the small craft industry within the association. 

He has also served as president of the European Boating Industry (EBI) for two consecutive terms from 2015 to 2019, and currently holds the position of vice chair supporting the EBI president for the two-year period between 2023 and 2025.

Read More/President of Liguria region and former head of Genoa port arrested on corruption charges