The Italian Sea Group S.p.A. (“TISG” or the “Company”), global player in luxury yachting with brands Admiral, Tecnomar, Perini Navi, Picchiotti, NCA Refit, and Celi 1920, announces that, following the resignation from office by Mr. Filippo Menchelli – notified on 7 June 2024 – and the unavailability to hold the office by Mr. Massimo Bianchi, the Board of Directors, in today’s meeting, resolved to co-opt in the Board of Directors, pursuant to Article 2836 of the Italian Civil Code, Ms Simona Del Re, appointing her as Chairwoman of the Company until the next Shareholders’ Meeting.

A professional with an international profile, Ms Del Re boasts twenty years of experience in luxury across several industries - from fashion to luxury retail and yachting – having held managerial positions of growing responsibility with prestigious global brands. With a degree in Business Administration from Bocconi University in Milan, Simona Del Re has held, among others, the role as Worldwide Corporate Communications Manager at Gucci and, successively, the role as Strategic Communications Director at The Lane Crawford Joyce Group, Asian leader in luxury retail based in Hong Kong. Having joined TISG in 2022, Simona Del Re has established and led the ESG & Corporate Affairs department, and then she took on the responsibility of Corporate Governance and Investor Relations. Ms Del Re currently holds the role of Investor Relations & ESG Director.

Considering her international profile, sound background in the luxury industry working for structured companies, and the experience gained on Corporate Affairs and Governance matters, the Board of Directors considered Ms Del Re to be the ideal candidate for the office of member and Chairwoman of the Board of Directors.

Mr. Menchelli will maintain his role as the Company’s Chief Business Officer, with an even higher focus on the strategic and technical activities that he has been managing until now and which, in light of the significant growth experienced by the group in the latest years, will require an even higher level of dedication.

The Chief Executive Officer and the Company’s entire Board of Directors sincerely thank Mr. Filippo Menchelli for the successful activities carried out in his role as member and Chairman of the Board of Directors and wish him and Ms Del Re the highest achievements in their respective roles.