Tributes paid to Azimut-Benetti president Paolo Vitelli

An outpouring of tributes is being paid to Italian businessman and Azimut-Benetti president Paolo Vitelli, who died aged 77 at his residence in Ayas, Italy on 31 December 2024.

Born in Turin in 1947, Vitelli graduated in 1970 with a degree in economics and business. A giant of the nautical world, Vitelli started Azimut, initially a boat rental company, when he was 21 and still a student, using proceeds from his first venture, a nightclub, to finance his passion for boating. He got into boat building (through sub-contractors first) with the goal of producing economical but reliable boats. 

The yachts grew in the 80s (with the notable launch of the Failaka range, the first fibreglass yacht series over 30 metres), which is also when Vitelli acquired Benetti in 1985, a historic shipyard based in Livorno. He promised to turn the fledging custom yacht builder into an entity known globally and opened its Avigliana site in 1988. 

The group, later known as Azimut-Benetti, eventually became the world’s most prolific yacht builder and has topped the Global Order Book since 2000. According to BOATPro, it has over 140 yachts on order or actively under construction, with a staggering order book of €2.6 billion announced at this year's Cannes Yachting Festival. Azimut-Benetti has established six construction sites across Italy and Brazil, with production ranging from 10-metre sports cruisers to custom superyachts over 100 metres.

Making his company a family affair, he involved his only child, Giovanna Vitelli, early on. After a career in law, she came aboard full-time and took over as chair of the Azimut-Benetti Group, in 2023. Marco Valle, who started his career as an apprentice 28 years ago, is the CEO of the Azimut-Benetti Group.

Of Vitelli whom he called a mentor and visionary, Valle said: "The global yachting industry would not be what it is today without Paolo Vitelli's unparalleled contributions. On a more personal level, neither would I. My 28 years working alongside him embody what Paolo Vitelli represented for the entire industry on a broader scale: the trust to empower young talent and the boldness to invest in cutting-edge technologies, visionary designers, and emerging companies— provided they shared the same commitment to shaping the future. Leaders across every dimension of the industry recognise him as an inspiring mentor."

Valle continued: "Even now, it is impossible for me to imagine him still, as he was someone who never stopped exploring new horizons. Paolo Vitelli will continue to chase innovation, push boundaries, and strive for perfection because together with his daughter and our Chair, Giovanna Vitelli, we will grow and evolve, steadfastly guided by his legacy and values, and forever inspired by his extraordinary vision."

Working with the late designer Stefano Righini, Vitelli launched a range of compact steel yachts under 40 metres called B.Yond. “Everyone was building bigger boats in fibreglass, so the idea to build a smaller boat in steel was not easy to accept,” Vitelli told BOAT's editor-in-chief Stewart Campbell in 2022. “In Greece, in Turkey, in the south of Italy or Sardinia, there’s so many village harbours that big boats can’t access. If you go above 40 metres, you have to go to a properly organised marina.”

French designer and winner of the 2023 Lifetime Achievement Award François Zuretti worked with Vitelli alongside Stefano Natucci. Zuretti told BOAT International about their work together on the 65-metre Benetti yacht Ambrosia, which "helped Vitelli to create the company we know now". 

The owner behind the several Ambrosia yachts, Hong Kong businessman Ambrous Young, was involved in the builds. "It was really a very good team," said Zuretti. Young met the Azimut-Benetti president in the 90s and loved the yard so much that he bought a piece of it, investing heavily in new facilities and product design – resulting in a friendship that spanned decades.

Zuretti respected the way Vitelli worked. He said: "He was always a very reactive person, when he had something in mind, he would very quickly find a positive solution." The designer said Vitelli predicted client needs, citing how he developed the yard's yachts to have larger exterior spaces over interior spaces because he knew people preferred to be outside. Zuretti also mentioned how, even in his seventies, Vitelli was always moving the needle and referenced the open beach clubs with large platforms we are now familiar with.

Zuretti concluded: "Vitelli was someone who helped you to be better than who you are, to do better than what you do usually. I think that was very important for me. Of course, like many people, I had a lot of respect for him all along, all his career. He was more like a friend, where you have consideration, admiration, but also friendship."

Vitelli's interests extended into hospitality and politics but he tended to describe himself as an industrialist to people outside the nautical world. He founded a small chain of hotels in Italy and France, as well as being responsible for the construction of modern tourist ports in Varazze, Viareggio and Livorno in Italy, La Valletta in Malta and Lake Chimki in Russia. His work as president of Confindustria Nautica (then Ucina) from 1998 to 2006 also did much to boost the development of the industry, particularly in his efforts to approve yacht leasing in the region.

Amongst the many tributes was Fraser CEO Anders Kurtén who said: “Paolo Vitelli’s unrivalled experience and insight played a significant role in shaping Fraser into the company it is today.” 

Laura Pomponi of Luxury Projects said: "With deep sorrow, I remember Paolo Vitelli, a titan of yacht design and a personal inspiration. Like many designers of my generation, I witnessed his extraordinary leadership and passion for pushing boundaries, which encouraged creativity and precision. His mentorship shaped the paths of countless designers and professionals. In this difficult time, my thoughts are with his daughter Giovanna, who has embraced his legacy and skillfully led the group he founded while now coping with immense grief."

Carla Guilhem of Carla Guilhem Design also paid her respects. She said: "Paolo Vitelli's visionary legacy profoundly impacts the yachting industry. His innovative approach and dedication to excellence inspired a lot of our design journey. Paolo's influence extends beyond achievements, touching lives and illuminating paths for designers and innovators.”

BOAT International's editor-in-chief Stewart Campbell shared similar sentiments. He said: "Paolo was one of the originals - a true pioneer of our industry. He built the most prolific shipyard on the planet and leaves a legacy that is second to none. I always enjoyed my time in his company and I will miss him deeply, both personally and professionally."

Cecile Gauert, editor at Boat International US Edition, shared her memories. She said: "I had the pleasure of meeting Vitelli and interviewing him on several occasions. I remember the twinkle in his eyes and his personality – he could charm anyone. I also had the pleasure of attending several incredible events celebrating milestones of the family business where the closeness between father and daughter was evident."