MILAN \u2014 Giorgio Armani has appointed deputy managing director Giuseppe Marsocci as chief executive with immediate effect, the Italian fashion house said on Thursday, confirming media reports.<\/p>\n
Marsocci, who has been with the company for 23 years, serving as global chief commercial officer for the past six years, steps into the role previously held by founder Giorgio Armani, who died in September.<\/p>\n
Armani kept a tight grip on the fashion empire he set up 50 years ago, but a new structure is emerging for its next phase.<\/p>\n
Marsocci will oversee the planned sale of a 15% stake, with priority to be given to the luxury conglomerate LVMH.PA, beauty heavyweight L\u2019Oreal OREP.PA, eyewear leader EssilorLuxottica ESLX.PA or another group of \u201cequal standing,\u201d as outlined in Armani\u2019s will.<\/p>\n
\u201cHis international professional experience, deep knowledge of the sector and the company, discretion, loyalty, and team spirit, together with his closeness to Mr. Armani in recent years, make Giuseppe the most natural choice to ensure continuity with the path outlined by the founder,\u201d said Armani\u2018s partner and head of men\u2019s design, Pantaleo Dell\u2019Orco, who has taken on the role of chairman.<\/p>\n
Dell\u2019Orco has also recently been appointed to chair the Giorgio Armani Foundation, which controls 30% of the voting rights of his business empire. Dell\u2019Orco already controls 40% of the luxury group\u2019s voting rights.<\/p>\n
The appointment of Marsocci, 61, was unanimously proposed by the Giorgio Armani Foundation, the luxury group said.<\/p>\n
Giorgio Armani\u2019s niece Silvana, head of women\u2019s style, will be appointed vice president, according to the statement.<\/p>\n<\/p>\n
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MILAN \u2014 Giorgio Armani has appointed deputy managing director Giuseppe Marsocci as chief executive with immediate effect, the Italian fashion house said on Thursday, confirming media reports. Marsocci, who has been with the company for 23 years, serving as global chief commercial officer for the past six years, steps into the role previously held by…<\/p>\n","protected":false},"author":1,"featured_media":4181,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-4180","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/thetradingdictionary.com\/index.php\/wp-json\/wp\/v2\/posts\/4180","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thetradingdictionary.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thetradingdictionary.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thetradingdictionary.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thetradingdictionary.com\/index.php\/wp-json\/wp\/v2\/comments?post=4180"}],"version-history":[{"count":0,"href":"https:\/\/thetradingdictionary.com\/index.php\/wp-json\/wp\/v2\/posts\/4180\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thetradingdictionary.com\/index.php\/wp-json\/wp\/v2\/media\/4181"}],"wp:attachment":[{"href":"https:\/\/thetradingdictionary.com\/index.php\/wp-json\/wp\/v2\/media?parent=4180"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thetradingdictionary.com\/index.php\/wp-json\/wp\/v2\/categories?post=4180"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thetradingdictionary.com\/index.php\/wp-json\/wp\/v2\/tags?post=4180"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}