MILAN, Jan 21 (Reuters) - Shares in Moncler fell over 1% in early trading on Wednesday after the luxury outerwear group said its main shareholder Remo Ruffini would step down as chief executive to be
Moncler shares edge lower after CEO and senior exec step down
Impact of Leadership Changes on Moncler
MILAN, Jan 21 (Reuters) - Shares in Moncler fell over 1% in early trading on Wednesday after the luxury outerwear group said its main shareholder Remo Ruffini would step down as chief executive to be replaced by Bottega Veneta's Leo Rongone, while senior executive Roberto Eggs also announced his departure.
Market Reaction to CEO Departure
Moncler shares cut losses and were down 0.1% at 0930 GMT, underperforming a broadly positive luxury sector, as some analysts flagged concerns over the exit of Eggs, who was Chief Business Strategy & Global Market Officer.
Analyst Insights on Leadership Transition
"Robert Eggs was very well regarded by the market... however, the fact that he will remain involved with Moncler as a board member reduces the chances of him joining another listed luxury company, in our view", analysts at Barclays said.
Future Outlook for Moncler
Barclays noted that Rongone had turned Bottega Veneta into one of the most resilient brands within the Kering group.
Italian broker Equita said Ruffini’s decision to leave the CEO role should not be seen as a backward step but rather as a natural evolution of the group’s leadership structure.
"The exit of Eggs could also be read as negative news, given the significant contribution made to the group in recent years.. but we are convinced that he leaves a strong and competent team", Equita analysts added.
(Reporting by Elisa Anzolin, editing by Alvise Armellini)
