Groupe Beneteau: Girotti leaves after 12 years and returns to Italy

Gianguido Girotti is leaving Groupe Beneteau, where he serves as CEO. The announcement came almost unnoticed, nestled between financial figures and a recovery outlook in the annual results press release. Yet it is one of the most significant departures in recent years in the international nautical industry: Girotti was, in effect, the number two at the largest European nautical industrial group, and the only Italian to have ever held a top position in a historically French-led organization. He will step down at the end of the general meeting on June 11, 2026, and, according to reports, will return to Italy for a new, yet-undisclosed professional adventure.

He joined Beneteau in May 2015 as marketing director for the sailing sector, before taking on responsibility for motorboat marketing in 2017, becoming general manager of the Beneteau brand between 2017 and 2019. In June 2022, with the reorganization of the group's governance, he was appointed general manager and deputy CEO of the nautical division, coordinating product, brand, and innovation strategy for the group's entire commercial fleet.

"I would like to sincerely thank Gianguido," says Bruno Thivoyon, CEO of Groupe Beneteau, "for his 12 years with the Group and for the passion for sailing he has shared with our teams. The creation of the Design Center is part of this legacy and represents a strategic driver for our development. I firmly believe that Sébastien will continue to build on this momentum, coordinating the talents of our Product and Tools teams to accelerate the development of new high-quality models, efficiently and competitively." He will be succeeded at the helm of Product Development by Sébastien Nolasco, who will head the new Projects Department. Nolasco, who joined Beneteau in 2025 as Time-to-Market Project Manager, brings 20 years of cross-industry experience across French and Italian shipyards, in the sailing, multihull, and motor yacht segments. The formal appointment will take effect following a three-month transition period.

Financially, the 2025 financial year closed with consolidated revenues of €848,6 million, down 18% from €1.034 million in 2024 (-17,1% at constant exchange rates). However, the aggregate figure obscures significant internal trends. The motor yachting sector slowed its decline to 4% in the second half of the year (from -19% in the first), the sailing multihull sector to 5%, and the dayboating sector returned to growth with a +7%.

On an annual basis, ordinary operating income amounted to -€21,6 million (-2,5% of revenues), with EBITDA falling to 4,2% versus 13,2% in 2024. The structural contraction in volumes, estimated at -€59 million, concentrated in the first half of the year, was compounded by approximately €32 million in non-recurring costs. The group's net loss was -€43 million, further exacerbated by the full write-down of exposures to the charter and boat club companies Your Boat Club and Blue Sea (-€29 million), segments abandoned due to a structural lack of profitability. On the liquidity front, free cash flow remained positive at €12 million and the net cash position at €248 million.

The focus for 2026 is on an unprecedented acceleration in launches: 24 new models this year, part of a plan that calls for 66 between 2025 and 2027. At the end of February 2026, the order book for deliveries for the year was up more than 10% year-over-year: +14% for motor yachts, +5% for sailboats. With network inventories now normalized, the group expects significant revenue growth in 2026 and a return to operating profitability.

Girotti thus leaves a group in transition, but with the foundations for its relaunch already laid. His influence on the product, and on Beneteau's design culture, will remain visible for years to come in future models.

SUBSCRIBE TO FREE SUPER YACHT 24 NEWSLETTER

SUPER YACHT 24 IS ALSO ON WHATSAPP: JUST CLICK HERE TO SUBSCRIBE TO THE CHANNEL AND ALWAYS BE UPDATED