Following final month’s information that Giuseppe Marsocci has been appointed as CEO and MD of the Giorgio Armani Groupwithin the wake of the demise of legendary founder Giorgio Armani in September, the corporate has now established a new board of directors.
It comes after “the successful completion of the succession procedures for Mr. Armani”, and the new board of directors has now been formally established “in accordance with the founder’s wishes”.
The board of directors contains eight members, chosen by the Giorgio Armani Foundation and the heirs, together with three representatives from the Armani household – together with Vice President Silvani Armani – 4 directors, consultants within the style and finance sectors (with out operational roles) and Marsocci, in addition to Giorgio Armani Group Chairman, Pantaleo Dell’Orco.
The board of directors will function in accordance with the ‘Founding Principles’ outlined by Giorgio Armani, that are safeguarded by the Giorgio Armani Foundation, that, it’s established might be all the time holding a stake of at least 30% within the firm’s capital, regardless of potential future developments such because the entry of new shareholders or a public itemizing.
The members of the Giorgio Armani Foundation are Pantaleo Dell’Orco and directors Andrea Camerana, Irving Belotti, Elena Terrenghi and Andrea Silvestri.
Pantaleo Dell’Orco stated: “The new board of directors of Giorgio Armani Spa contains members of the family and the CEO, all lengthy-time collaborators of Mr. Armani, alongside unbiased professionals of recognised competence and expertise.
“This provides the best assurance for continuing, enhancing and updating Mr. Armani’s vision of beauty, business model, and ethical values built over 50 years, enabling us to effectively face market challenges and opportunities.”