Fincantieri Taps New U.S. CEO Amid American Shipbuilding Revival

By Alberto Brambilla, Antonio Vanuzzo and Laura Curtis (Bloomberg) —

Fincantieri SpA is set to appoint George Moutafis as head of its US unit, according to people familiar with the matter, betting on an American shipbuilding revival under President Donald Trump. 

As chief executive officer of Fincantieri Marine Group, Moutafis will oversee an expansion set to include hundreds of hires, according to the people, who asked not to be named discussing private information. He previously held senior strategy and program roles at the US unit, and is returning after a stint as chief operating officer of Beretta US.

A representative for Fincantieri declined to comment.

The Italian state-controlled shipbuilder employs more than 3,000 people in the US, where it owns four shipyards and holds contracts with the US Navy. Fincantieri has invested $800 million in US activities since 2009; half of that sum was allocated to its Marinette Marine location in Wisconsin. The company has tentative plans to hire hundreds at the site, the people said, where it manufactures a range of naval vessels including frigates, littoral combat ships and tug boats.

Fincantieri plans to resume building icebreaker ships at Marinette, aligning its interests with the Trump administration’s plans for a greater Arctic presence and counter Russian influence. The region has attracted growing attention as melting ice opens up shipping channels and the potential for energy and mineral resource exploration. The president has called for adding dozens of icebreakers to the American fleet.

The US hasn’t produced ocean-going vessels in large numbers since the 1970s. But interest in maritime security has grown in Washington under former President Joe Biden and Trump, who has called for the return of US shipbuilding as part of a wider effort to boost American manufacturing and jobs.

Fincantieri joins a handful of other foreign shipbuilders seeking to capitalize on that push. 

Hanwha Shipping vowed to turn out the first US-built LNG tanker at its Hanwha Philly Shipyard, purchased last year by the South Korean conglomerate. HD Hyundai recently announced plans to build medium-sized container ships at Edison Chouest Offshore’s Tampa Ship facility. And Chantier Davie Canada Inc. is in talks to buy assets in Galveston and Port Arthur. 

In Italy, Fincantieri is making plans to devote more of its production capacity to making warships, while moving some civil shipbuilding to other locations, Bloomberg reported this week.

Shares of Trieste-based Fincantieri have more than doubled this year, amid a rally in European defense stocks.

© 2025 Bloomberg L.P.

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