Finance
Armani names new board to steer company through succession plan
Published by Global Banking and Finance Review
Posted on November 28, 2025
2 min readLast updated: January 20, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on November 28, 2025
2 min readLast updated: January 20, 2026
Armani appoints a new board to guide its succession plan, including a 15% stake sale, while ensuring the Giorgio Armani Foundation retains significant ownership.
FLORENCE, Italy (Reuters) -Italian luxury group Armani said on Friday it had appointed a new eight-member board, keeping three seats for representatives of the family and bringing in veteran industry executives Marco Bizzarri and John Hooks, and Milanese businessman Angelo Moratti.
The enlarged board will steer the fashion house as its owners prepare to sell a 15% stake following the death of founder Giorgio Armani in September, at a time when the broader luxury industry faces strong headwinds.
The previous, seven-strong board included more family members: Armani's sister Rosanna, nieces Silvana and Roberta, and nephew Andrea Camerana along with Armani's long-time partner Pantaleo Dell'Orco.
The current board is chaired, as the previous one, by Dell'Orco. The other two seats for family members are occupied by Silvana Armani and Andrea Camerana.
Armani confirmed Federico Marchetti, founder of e-retailer Yoox, in the role of director.
Another seat is occupied by Armani's former deputy managing director Giuseppe Marsocci who joined the board last month when he was named chief executive of the group.
Armani's will instructed heirs to gradually sell the fashion house he created 50 years ago or seek a market listing, starting with a 15% stake within 18 months. It gives priority to luxury conglomerate LVMH, beauty group L’Oreal, eyewear maker EssilorLuxottica or another group of "equal standing."
The group reiterated that the Giorgio Armani Foundation will retain a stake of no less than 30% in the company's capital, regardless of potential future developments such as the arrival of new shareholders or a public listing.
(Reporting by Elisa AnzolinEditing by Keith Weir)
Corporate governance refers to the systems and processes that direct and control a company, ensuring accountability, fairness, and transparency in a company's relationship with its stakeholders.
An investment stake refers to the ownership interest or share that an individual or entity holds in a company, which can represent a percentage of the company's equity.
A board of directors is a group of individuals elected to represent shareholders and oversee the activities of a company, making key decisions on corporate policy and strategy.
Succession planning is the process of identifying and developing new leaders who can replace old leaders when they leave, retire, or die, ensuring the continuity of leadership in an organization.
A luxury brand is a brand that is associated with high quality, exclusivity, and premium pricing, often appealing to affluent consumers and emphasizing craftsmanship and prestige.
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