After more than a decade and a half shaping Monaco’s maritime landscape, Giovanni Battista Borea d’Olmo is stepping aside from port management. The 75-year-old, who served as director general of Monaco Ports for 15 years and later oversaw the Cala del Forte project in Ventimiglia, formally ended his tenure on July 31, 2025.
His successor, Marco Cornacchia, 59, is no stranger to the site. Having managed Cala del Forte since 2018 alongside Borea d’Olmo, he will now lead the harbour’s continued development. The port, Monaco’s third and most recent, was acquired in 2016 for around €112 million and inaugurated in 2021 with 178 berths designed to ease congestion at Port Hercule.
Cala del Forte has already attracted buyers for nearly half of its long-term berths, sold on 40-year leases priced between €120,000 and €4 million depending on vessel size. The site operates under an 85-year concession granted to the Société Monégasque Internationale Portuaire, running until 2101.
Cornacchia, a former professional sailor who lifted the Louis Vuitton Cup in 1992 before moving into yacht and marina management, is tasked with maximising the port’s profitability and reinforcing its role in Monaco’s maritime strategy. His previous experience includes directing the Marina di Loano in Liguria between 2011 and 2017.
