Benetton will name Marco Airoldi
the new CEO of the Italian clothing retailer as it prepares to
split into three branches.
The announcement came in a statement Friday by Edizione
Ltd, the holding company of the Benetton family and majority
shareholder.
Taking over from Biagio Chiarolanza, Airoldi's position
will be made official at a May 8 shareholders meeting renewing
the board of directors, whose mandate expires with the approval
of the 2013 budget.
The Treviso-based company, whose lines include United
Colors of Benetton, Sisley and Playlife, has said it plans to
branch off into separate units for clothing, manufacturing and
retail businesses by the beginning of 2015.
Airoldi, 54, is set to take over Benetton's fashion
division.
He is the senior partner at Boston Consulting Group and has
worked with Edizione for 20 years, the holding company said in a
statement, including as general manager of highway restaurant
chain Autogrill, which is owned by Edizione.
With Benetton's restructuring, Edizione is set to claim
100% control of the group, following the Benetton family's
controversial move to take the clothing maker private for 276.6
million euros in 2012 amid signs that its market value was
shrinking.
Sales have been hit during the recession, especially in the
company's core market in southern Europe, where cheaper
competitors H&M and Zara have cut into profits.
The company has said it plans to cut around 25% of its
6,500 franchises in 120 countries it no longer deems strategic.
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