Ferruccio Ferragamo to Go away Chairman Publish at Salvatore Ferragamo – WWD

MILAN  – Ferragamo Finanziaria SpA, which controls the Salvatore Ferragamo firm with a 54.28 p.c stake, deposited on Tuesday the record of members which can be proposed in the course of the common shareholders assembly for the renewal of the board scheduled on April 22, and there are a couple of surprises.

Opposite to the continuing hypothesis circulating for months right here, govt vice chairman Michele Norsa and chief govt officer Micaela le Divelec Lemmi are on the record and anticipated to remain on, whereas chairman Ferruccio Ferragamo will go away his publish, succeeded by his brother Leonardo.

The board will stay in cost till Dec. 31, 2023.

The record of members has been whittled all the way down to 10 from 13, and consists of longtime Ferragamo accomplice Peter Woo.

By mid-morning, the information had not a lot impacted the shares of Salvatore Ferragamo on the Italian Inventory Trade, which have been up 1.36 p.c to 16.37 euros.

As reported, Ferragamo Finanziaria SpA revealed in January it was cutting back the number of family members on the board of Salvatore Ferragamo and growing the variety of impartial administrators, giving a mandate to an govt search agency to finish the method.

WWD reported that market sources believed Norsa, whose contract is claimed to run out on the time of the annual assembly, would exit Ferragamo, as would Le Divelec Lemmi, who was appointed CEO on the finish of July  2018. Rumors have additionally been swirling round the way forward for artistic director Paul Andrew.


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