Overview

• Giuseppe Marsocci, 61, a 23-year company veteran and former global commercial director, was appointed CEO with immediate effect after a unanimous proposal by the Giorgio Armani Foundation.
• Pantaleo Dell’Orco was named company president and also became president of the Giorgio Armani Foundation, which holds 30% of voting rights, while he already controls 40% of the group’s voting power.
• Silvana Armani, the founder’s niece and head of womenswear style, will serve as vice president as the group consolidates its leadership structure.
• Under the will, Marsocci will oversee the sale of an initial 15% stake within 18 months, followed by a further 30%–54.9% transfer to the same buyer within three to five years, with an IPO as an alternative route.
• Preferred bidders cited in the will include LVMH, L’Oréal and EssilorLuxottica or a peer of comparable stature, as the company navigates weaker demand and a reported 5% sales decline to about $2.7 billion.