A visionary leader, Vitelli revolutionized the luxury yacht industry, growing Azimut-Benetti into a global powerhouse with a legacy of innovation, excellence, and dedication to craftsmanship. His achievements spanned yachting, hospitality, and public service, leaving an indelible mark on multiple industries and inspiring future generations.
Born in 1947, Vitelli founded Azimut in 1969 while still a university student studying economics and business. Initially established as a yacht charter company, Azimut rapidly transitioned into yacht manufacturing under Vitelli’s leadership. Significant milestones included the launch of the AZ 43’ Bali in 1975, one of the first mass-produced fiberglass boats. In 1985, Vitelli acquired the historic Benetti shipyard, established in 1873 and renowned for its luxurious craftsmanship. This acquisition marked the creation of the Azimut-Benetti Group, which quickly became a global leader in yacht production.
The group expanded its footprint with the opening of a production site in Avigliana in 1988 and has since grown to operate six state-of-the-art construction facilities across Italy and Brazil. The company’s offerings range from 10-metre Azimut Atlantis sports cruisers to custom-built gigayachts exceeding 100 metres in length. The flagship of the Benetti fleet, the 108-metre IJE, stands as a testament to Vitelli’s vision and the group’s engineering prowess.
Under Vitelli’s leadership, Azimut-Benetti solidified its dominance, maintaining the top position in the Global Order Book since 2000 for both the overall length of production and the number of yachts under construction. At this year’s Cannes Yachting Festival, the group announced an impressive order book valued at €2.6 billion, with over 140 yachts on order or under construction.
Vitelli’s influence extended beyond the yachting sector. He was a trailblazer in the hospitality industry, establishing a boutique chain of hotels in Italy and France and developing modern tourist ports in iconic locations such as Varazze, Viareggio, and Livorno in Italy, as well as La Valletta in Malta and Lake Chimki in Russia. His contributions to the nautical sector included his tenure as president of Confindustria Nautica (formerly UCINA) from 1998 to 2006, during which he championed yacht leasing and fostered industry growth.
A statesman as well as a businessman, Vitelli served as the Consul of Norway from 1974 to 2018 and was a member of the Italian parliament from 2013 to 2015. His legacy is one of innovation, leadership, and dedication, both to his industry and to public service.
In 2023, Vitelli passed the baton to his daughter, Giovanna Vitelli, appointing her as chairwoman of the Azimut-Benetti Group. Giovanna has been instrumental in the company’s strategic direction and growth and now carries forward her father’s vision.
Paolo Vitelli’s impact on the yachting and hospitality industries, as well as his contributions to Italian public life, will be remembered for generations. The global yachting community extends its deepest condolences to his family and loved ones.
Looking for your dream Azimut or Benetti yacht? Explore our complete collection of Azimut Yachts for Sale worldwide, tracked in real-time by YachtBuyer MarketWatch. We scan the entire market to ensure access to all genuine listings, saving you time. Alternatively, you can view all Benetti yachts for sale globally.
