The former CEO of Italian superyacht builder Perini Navi, Giancarlo Ragnetti, is reported to have died.
Ragnetti, 74, spent more than 20 years as chief executive of Perini Navi before stepping down in 2014 due to personal reasons. However, he continued to serve the company as a board member.
Ragnetti began his career in commercial shipbuilding on Italy’s eastern coast before moving to luxury shipbuilding and joining Perini Navi in the 1970s.
Key achievements included redeveloping Perini Navi’s brand and core team, increasing the yard’s international reach and relaunching the Picchiotti shipyard in 2007.
During his long career, Ragnetti was bestowed with a number of awards and recognitions, including the International Superyacht Society (ISS) leadership award in 2013.
A statement from Perini Navi chairman and chief executive Lamberto Tacoli said the company "mourns the loss" of Ragnetti.
"Engaged from the outset and at the helm for over twenty years, Giancarlo was synonymous with our industry's stakeholders, with the unique position he helped to create for his company. But his humility and umanità (humanity) will be the traits best remembered by all the employees, subcontractors, suppliers, industry stakeholders - and owners - with whom we share his loss.
"Our heartfelt condolences to his family and loved ones for this shared loss of a very special gentleman."