The Board of Directors of Azimut Holding SpA co-opted Mr. Sergio Albarelli onto the Board, appointing him as the Company's Chief Executive Officer and granting him the relevant powers and responsibilities starting from October 3rd 2016. The appointment was made following the resignation, during the same meeting, of Mr. Claudio Foscoli, who was appointed as Executive Director during the latest AGM on April 28, 2016 through the Timone Fiduciaria slate. The current Chairman and Chief Executive Officer ad-interim, Mr. Pietro Giuliani, will remain on the Board of Directors as non-executive Chairman.