Tan Xuguang: Our Global Family’s Shared Dream and Joy is Elevating Ferretti

On May 20, 2024, Ferretti Group Chairman Tan Xuguang conducted a thorough review of the management’s work following recent on-site research at the Milan headquarters. He systematically analyzed the company’s operations, global industry competition, strategic benchmarks, future business plans, international market development, and other critical areas. Tan also engaged in face-to-face discussions with both first-line and second-line managers, delivering a keynote speech to outline the company’s future development at the Ferretti Operations and Decision-Making Committee meetings.

Tan Xuguang emphasized that operational safety remains the company’s top priority. He stressed the need to enhance operational control, improve risk prevention, and manage costs effectively to navigate economic cycles with high quality.

Tan announced plans to accelerate the establishment of a “China + Europe” dual supply chain system, aiming for the seamless integration of “Designed in Italy + Made in China.” During the first-line and second-line managers symposium, Tan highlighted Ferretti’s status as a world-class company. He urged the team to adopt a global perspective, safeguard each brand, and align with global market dynamics.

He stressed the importance of recognizing both competitors’ strengths and Ferretti’s own weaknesses, advocating for respect and humility. Tan encouraged deep collaboration within the group to unlock immense value and urged management to overcome any inflated mentality, maximizing personal value through the company’s platform. He also emphasized customer satisfaction as the team’s primary goal.

At a Ferretti Group board communication meeting, Tan reiterated his responsibility to inform directors and supervisors of his findings, address identified issues, and ensure compliance with legal duties. His goal is to establish Ferretti as a world-class “pearl-of-the-crown enterprise.”

Tan called for improved corporate governance, stronger links between the board of directors and management, and the establishment of a scientific, standardized, and efficient modern governance system. The on-site research and discussions clarified Ferretti’s strategic concept and governance structure, earning full recognition from management and employees, and laying a solid foundation for the company’s sustained and rapid growth.

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