Furla
On August 26, the Italian leather goods group Furla held a shareholders’ meeting to elect a new board of directors. Eraldo Poletto, who served as Furla’s CEO from 2010 to 2016, has returned to lead the company, replacing Giorgio Presca, who left after two years at the helm. Poletto is now Furla’s new CEO.
Before returning to Furla, Eraldo Poletto’s most recent position was CEO of the Italian luxury shoe brand Santoni. He brings extensive experience and a deep understanding of the market in which Furla operates. Previously, Poletto also held roles as General Manager and Brand President at Stuart Weitzman, a brand under the American luxury group Tapestry, and served as CEO of both the Italian luxury company Salvatore Ferragamo and Diesel, a brand under the fashion luxury group OTB.
Gaetano Terrin, Chairman of Furla’s Board of Directors, commented on the appointment, stating, “Eraldo Poletto will successfully lead the company on a path of consolidation and growth… His goals align with those of a globally renowned Italian brand.”
Industry insiders note that this appointment comes at a time of transformation for Furla. After years of losses, the group has begun formal negotiations to restructure its debt. According to the latest annual report, as of the end of 2022, Furla owed €154 million to bank creditors. The group’s revenue in 2022 was €186 million, with a loss of €27 million, requiring €25 million in financing to maintain its operations.
Mash Holdings/Frasers Group
According to The Times, Mike Ashley, the founder of British retail giant Frasers Group, has promoted his daughter Matilda Ashley to the board of Mash Holdings, a company that controls Mike Ashley’s shares in Frasers Group and other companies.
Matilda Ashley has resigned from her directorship at the personal beauty company Double Take, which Frasers Group acquired last year for £1 without notifying shareholders.
This appointment marks the entry of another Ashley family member into the Frasers Group business. Two years ago, Mike Ashley appointed his elder daughter Anna Ashley’s husband, Michael Murray, as CEO of Frasers Group. Matilda Ashley’s boyfriend, David Al-Mudallal, has also been serving as the group’s Chief Operating Officer and a board member since April.
Compass Diversified (CODI)
The American diversified business group Compass Diversified (CODI), the parent company of footwear technology company BOA and specialty textile manufacturer Primaloft, recently announced that Stephen Keller will succeed Ryan Faulkingham as CODI’s Chief Financial Officer starting August 31, 2024. Ryan Faulkingham, who has served as the company’s CFO since July 2013, will leave on August 30, 2024, but will continue to assist with the transition as an advisor.
Stephen Keller has over 25 years of experience as a financial executive, working across various industries, including automotive, healthcare, industrial, specialty materials, retail, and apparel brands, as well as media. He is well-equipped to lead CODI’s financial department, with responsibilities covering accounting, planning, finance, taxation, reporting, and investor relations.
Most recently, Stephen Keller served as Interim CFO and Vice President of Investor Relations at Envista Holdings Corporation, a $2.6 billion company and one of the world’s leading providers of dental solutions. At Envista, Keller also held roles as Vice President of Strategy and Business Development and Vice President and General Manager of the Nobel Biocare Prosthetics Business Unit.
Before joining Envista, Stephen Keller worked at Avery Dennison Corp., where he held various positions, including Vice President of Strategy and Corporate Development, overseeing multiple acquisitions. Avery Dennison is a global materials science company with a market capitalization of $8 billion.
Lenzing Group
On August 21, the Austrian fabric group Lenzing announced that Rohit Aggarwal would join the management board and assume the role of CEO starting September 1, 2024, as the current CEO, Stephan Sielaff, steps down at the end of August.
Rohit Aggarwal is a strategic business economist with decades of leadership experience in the textile and chemical industries. He has held global management positions in Europe, the United States, and Asia, with a deep understanding of international market strategies and the ability to build efficient management teams. With extensive experience in the global textile, nonwovens, and fiber markets, Rohit Aggarwal is well-acquainted with Lenzing’s core business and markets.
Cord Prinzhorn, Chairman of Lenzing’s Supervisory Board, stated, “This summer, we professionally and smoothly completed the transition from Stephan Sielaff to his successor. I want to thank Stephan for paving a path of significant improvement during challenging times for the company. Rohit Aggarwal is the right person to handle the challenging tasks we face.”
Rohit Aggarwal commented, “I want to thank Stephan Sielaff for the thoughtful transition… The market remains challenging, and we must continue to work hard to turn Lenzing’s fortunes around.”
Benetton Group
Recently, Italian media outlet Milano Finanza revealed that Italian fashion group Benetton Group announced the resignation of its Chief Financial Officer, Iacopo Martini, effective at the end of July. Benetton Group neither confirmed nor denied this news. It is reported that Cristina Girelli will replace him on September 2.
In June, Benetton Group announced in a statement that CEO Massimo Renon would leave the company after the expiration of his term, with his tenure ending on June 18.
On June 18, Benetton Group’s shareholders’ meeting approved the 2023 budget and appointed Christian Coco, Andrea Pezzangora, and Claudio Sforza as company directors. Subsequently, the Benetton Group board also appointed Claudio Sforza as the group’s new CEO.
Perry Ellis
American designer apparel company Perry Ellis International recently announced the appointment of Kim Manna as President of Global Licensing. Perry Ellis stated that with over 20 years of industry experience, Kim Manna will play a crucial role in developing strategic partnerships, expanding product categories, and driving growth in Perry Ellis International’s licensing business.
Perry Ellis International is a global fashion and lifestyle company specializing in designing, distributing, and licensing various high-quality apparel, accessories, and fragrances, with over 145 licenses in more than 55 countries and regions worldwide.
Oscar Feldenkreis, CEO of Perry Ellis International, welcomed Kim Manna’s arrival, saying, “Kim has a proven track record in building and growing consumer brands, coupled with her extensive experience in licensing, which will enhance our valuable assets… Since 1999, Perry Ellis has been a pioneer in the apparel licensing field. As we continue to expand our global reach, Kim will play a key role in managing the licensing department and identifying and leveraging new licensing opportunities within our diverse lifestyle brand portfolio.”
Before joining Perry Ellis, Kim Manna served as Senior Vice President of Retail, E-commerce, and Licensing at Hard Rock International. During her time at Hard Rock, Manna oversaw the global strategy and operations of this entertainment and hospitality brand, including merchandise sales, online retail, and licensing programs. Previously, Kim also served as CEO of the American lifestyle company Panama Jack, helping lead the company’s expansion in the global lifestyle arena through international distribution channels, licensing partnerships, and retail collaborations.
| Source: Brand and corporate websites, individual LinkedIn profiles of executives, SGB Media, Retailgazette.co.uk, Thelicensingletter.com, Daily Mail
| Image Credit: Brand and corporate websites, individual LinkedIn profiles of executives
| Editor: LeZhi
