Overview

• The board appointed Marsocci CEO and added him to the board, following a unanimous proposal by the Armani Foundation.
• He will report to a board chaired by Pantaleo (Leo) Dell'Orco, with Silvana Armani to serve as vice president.
• The company said the board’s final composition will be set after formal procedures to execute Giorgio Armani’s will are completed.
• Armani’s will outlines a potential sale of an initial 15 percent stake after 12 months and within 18 months, with priority to LVMH, L’Oréal or EssilorLuxottica.
• Further options in the will include a possible larger stake sale within three to five years or considering a listing within five to eight years, with the foundation aiming to retain about 30 percent and Dell'Orco holding 40 percent of voting rights.