MILAN (Reuters) -The Giorgio Armani foundation, set up in 2016 and the key pillar of the Italian designer's succession, will propose the name of the group's new CEO, Armani's executive committee said
Giorgio Armani Foundation to Recommend New CEO While Retaining 30% Stake
Giorgio Armani Foundation's Leadership Transition
MILAN (Reuters) -The Giorgio Armani foundation, set up in 2016 and the key pillar of the Italian designer's succession, will propose the name of the group's new CEO, Armani's executive committee said on Friday.
Role of the Executive Committee
"The Fondazione .. shall never hold less than 30% of the capital, thereby acting as a permanent guarantor of compliance with the founding principles", the committee said in a statement.
Commitment to Founding Principles
The committee, established to oversee the succession after Armani's death, includes the designer's business and life partner Pantaleo Dell'Orco, members of the Armani family and senior managers.
"We affirm.. our commitment to supporting this path in full respect of his wishes, united by the shared goal of securing the best possible future for the company and the brand", the committee added in the statement.
(Reporting by Elisa Anzolin, editing by Gianluca Semeraro)
