Michele Norsa to Exit Salvatore Ferragamo Company – WWD

MILAN Ferragamos is saying goodbye to a trusted executive who helped support their luxury company as a Coronavirus The pandemic has shaken the industry for the first time – but he will still support the family in their other activities.

Michele Norsa has resigned as executive vice president of Salvatore Ferragamo and will leave the Florence-based company on December 31. His departure is not surprising given the expected arrival of Burberry CEO Marco Gobbetti

Gobbetti has been appointed a member of Ferragamo’s board of directors and, as reported, will join the company on January 1 as chief executive officer and general manager.

Also effective January 1, Angelica Visconti, daughter of the late Fulvia Ferragamo, will assume the role of vice president of the company.

The management structure was revealed at the end of the transaction on Tuesday, following a meeting of the board of directors major shareholder Ferragamo Finanziaria SpA.

In a statement, president Leonardo Ferragamo emphasized Norsa’s “commitment, dedication and practical contribution in creating value” for Ferragamo. His return at the end of May 2020 after the first wave of the COVID-19 pandemic was “fundamental” in the relaunch of the company, which has seen profitability return and “laying the groundwork for a future that will allow Ferragamo to realize its full potential. ”

Norsa, he concluded, will continue to “pause shareholders in relation to other Ferragamo family activities”. Leonardo Ferragamo Appointed President of the company last April, succeeding his brother Ferruccio.

Norsa, who does not hold any shares in the publicly listed company on Tuesday, will leave with €868,000 to consider ending his duties at the group.

Norsa was given all the usual administrative powers during the transition following the departure of CEO Micaela le Divelec Lemmi on September 7, when she reported that Ferragamo for the six months ended May 30. 6 registered net profit, including minority interests, of 33 million euros. This compares to a loss of 86 million euros in the same period last year. Le Divelec Lemmi was appointed CEO in 2018, joining the Gucci Group.

According to the most recent figures, in the first nine months of the year, sales increased by 33.9% to 785 million euros.

Norsa first joined Ferragamo as CEO in 2006 and left the company in 2016. His appearance played a key role in the company’s public listing in 2011. His experience with the IPO process was one reason he was included in the company because he played a role. important role in the stock market of Marzotto SpA. Valentine Fashion Group. Norsa becomes CEO of Valentine SpA in 2002, when Marzotto bought the fashion house from the now defunct parent company HdP. He is also General Manager of Licensed Brands of VFG USA Missoni and Marlboro Classics. Prior to that, the executive had worked at other family-owned companies such as Benetton, Sergio Tacchini and Rizzoli.

He is a member of the board of directors of the Ermenegildo Zegna Group, among others. He is also a partner of the Italian fund FSI and he has served as vice president of Missoni.

https://wwd.com/business-news/human-resources/michele-norsa-exit-salvatore-ferragamo-1235017699/ Michele Norsa to Exit Salvatore Ferragamo Company – WWD


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