Italian superyacht builder Baglietto has appointed new management in charge of the company's recovery plan.

Diego Michele Deprati, former Mondo Marine managing director for over 20 years, is the Baglietto's new managing director. Angelo Giaccone, also from Mondo Marine, has been appointed production director.

The two managers will be in charge of relaunching the Baglietto brand on the superyacht market.

Baglietto, based in La Spezia, is owned by Italian tycoon Beniamino Gavio together with the Cerri shipyard.

It specialises in the construction of aluminium motoryachts from 40m-50m (131ft-164ft) and steel superyachts over 50m (164ft).

Superyacht Business, 13 March 2012