Paolo Vitelli, founder of the Azimut Benetti Group, has tragically passed away

Paolo Vitelli, founder and president of the Azimut|Benetti Group, a global leader in luxury yacht production, passed away today at the age of 77 following a domestic accident at his residence in Ayas, in Valle d'Aosta.

Born in Turin on October 4, 1947, Vitelli graduated in Economics and Commerce in 1970. As early as 1969, during his university studies, he founded Azimut, initially focused on the trade and construction of leisure boats. Under his visionary leadership, the company experienced exponential growth, becoming a benchmark in the international nautical sector.

In 1985, Vitelli acquired the Benetti shipyard, a historic symbol of Italian excellence in yacht construction, establishing the Azimut|Benetti Group. Today, the group operates through six shipyards in Italy and one in Brazil, producing motorboats ranging from 9 to 110 meters under the Azimut and Benetti brands. The production value for the 2023-2024 nautical year amounted to €1.3 billion, with approximately 2,500 employees and a permanent workforce of about 5,000 people.

His passing represents a significant loss for the global yachting industry, which has lost a pioneer and innovator who elevated Italian excellence to the pinnacle of the sector.