Dec 6 (Reuters) – Italian vogue group Prada (1913.F), confirmed on Tuesday that it might title former Luxottica chief Andrea Guerra as its new chief govt officer to ease a transition on the helm to the following era of the founding household.
Present CEO Patrizio Bertelli, 76, will probably be appointed chairman of the luxurious firm at annual shareholder assembly subsequent spring. He’ll exchange Paolo Zannoni who will probably be advisable for the function of govt deputy chairman of the group and chairman of its mother or father firm Prada Holding.
Present co-CEO Miuccia Prada, 73, will stay inventive director of the Miu Miu and Prada manufacturers – the latter along with Belgian designer Raf Simons – and a board member.
Reuters reported final week that the style group was set to rent Guerra in a prime administration function to ease the succession path of the Hong Kong-listed group based in Milan in 1913 as a leather-based items store by designer Miuccia Prada’s grandfather and his brother.
After overseeing a profitable turnaround since 2017 to reverse a slide in gross sales, Bertelli mentioned a yr in the past he deliberate handy over the reins of the group he leads with spouse Miuccia Prada to their 34-year-old son Lorenzo.
“This can be a elementary step we’ve determined to undertake, whereas utterly engaged within the firm, to contribute extra to the evolution of the Prada Group and to ease the succession of Lorenzo Bertelli, the longer term chief of the group,” they mentioned in Tuesday’s assertion.
Guerra, 57, will probably be advisable as the brand new CEO at a board assembly to be held on Jan.26 by Prada Holding, which owns 80% of Prada group.
Earlier this yr he stepped down as head of the motels division at luxurious items large LVMH (LVMH.PA).
As Luxottica CEO from 2004 to 2014, the supervisor oversaw a greater than doubling in gross sales on the spectacles producer that has been producing and distributing eyeglasses beneath the Prada group’s Prada and Miu Miu manufacturers since 2003.
Reporting by Harish Sridharan in Bengaluru, Claudia Cristoferi in Milan; Modifying by Anil D’Silva and Keith Weir
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